Ottawa Condo Market Statistics - December 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for December 2021 in the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Every month we break down the numbers for the top downtown areas for condos, but I have started including the Ottawa Real Estate board overall stats for the month to paint a picture of the overall condo market. Also interesting to note is that the average sale price year to date for condominiums across the city increased 16 percent over 2020, hitting $419,683.

One important thing to note as you look at the numbers below is that they are based on smaller data points that might not properly indicate that specific properties have increased or decreased. For example, both Westboro and Hintonburg had only one condo sold during the month, which makes the “average” sold price look like a HUGE jump over last year. Compare that to Centretown which had 23 sold units, the average sold price is much more inline with what the market is seeing.

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call us directly 613-900-5700 or fill out the form at the bottom of the page.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Claridge Icon - Now Occupying

** For more information about Claridge Icon, visit our Claridge Icon page, with all of the renderings, floorplans, detailed information, etc. CLICK HERE.**

Claridge Icon has officially entered the occupancy phase as its first owners have started moving in. The building is still being completed, and there are still a few units available for purchase. Pricing starts at $528,000 for the Adler floorplan which is 740 sqft on the 6th floor.

Sales originally started in the summer of 2013 and feature 318 units over 45 stories. Located at 805 Carling, the development is located at the base of Little Italy alongside Dows Lake, the LRT, etc.

For more information about Claridge Icon, or pre-construction condos in Ottawa, fill out the form below!

Kensington Lofts Hintonburg - Over 60% Sold Out

**For more information about Kensington Lofts Hintonburg visit our Kensington Lofts Hintonburg page which Includes everything about Kensington Lofts in one place, floorplans, renderings, pricing, etc.**

Kensington Lofts Hintonburg has done amazing and we are proud to announce the building is already 60% sold and we only have ten units remaining. These brand new loft units are designed by KODA Interiors and built by Orange Design Build. Kensington Lofts Hintonburg consists of a mix of one-bedroom, two-bedroom, and private entrance loft units. The most significant thing to note is that these units are already under construction and will be ready for immediate occupancy! Unlike traditional projects, this brand new building is available to view in person, and move-in right away. Pricing starts from the mid-$300k’s and goes up to $731,900 for the largest remaining two-bedroom penthouse unit.

Fill out the form below to learn more and to schedule a private viewing.

Ottawa Condo Market Statistics - September 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for September ‘21 in the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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September is a great month … typically. School is back, life is back, and things start to feel normal as we move into the fall market. This year we had the election which always creates uncertainty in the market. However comparing September of 2021 to September of 2020, is not a fair comparisson to due the impact that COVID had on the market in 2020. See the graph below (provided by the Ottawa Real Estate Board) which gives you an idea….

Looking at the data below for September, the average selling price for every area is over $500,000. To me, this is the beginning of the new reality as we see average freehold prices rise across the city, we will start to see the pricing of lower entry-level condo units also rise with increased demand.

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call us directly 613-900-5700 or fill out the form at the bottom of the page.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Ottawa Condo Market Statistics - August 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for August ‘21 in the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Traditionally speaking, August is one of those months that gives everyone a break between the spring and fall craziness. Last year, this was thrown out the window due to covid, but this year we are starting to get back to a more normal market expectation. Usually, when I am writing these I am also looking at last month’s numbers to help compare not only year-over-year but month-to-month. CLICK HERE For July 2021 stats. One thing we easily noticed was that every area saw - month over month - a decrease in the average selling price, lower list to sold price, and more days on market (with the exception of Westboro - which still saw a lower list to sold price ratio). Nothing dramatic, but exactly what we were expecting going into the month. 

I asked Husnain Ali - to break down what he is seeing in the market right now. “Right now I am seeing more inventory on market, less holding off of offers, multiple offers are less common but still prevalent. Certainly seeing a larger buyer pool than the last couple months, and we are moving more towards a more balanced market”

Spoke with Aly Ball for her take. “The market after a slight lull in August has started to strengthen and we are seeing multiple offers again. Prices are holding strong.”

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call us directly 613-900-5700 or fill out the form at the bottom of the page.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Claridge Moon - Construction and Sales Update - August 2021

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction updates, news articles, pricing, etc. **

Claridge has continued to move units and make progress with construction on Claridge Moon. Located at 340 Queen Street in Centretown, Claridge Moon will be the first condo building in Ottawa located directly attached to an LRT transit stop. The building is current 69% sold out (183 sold out of 266). The average size for the remaining units is 830sqft, with the average price per sqft for the remaining units at $749/sqft. Prices start at $441,000 for an Ariel Floorplan on the 2nd floor - 630sqft.

For more information about pre-construction condos in Ottawa, fill out the form at the bottom of the page.

Ottawa Condo Market Statistics - July 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for July ‘21 in the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Ahhhhhh the start of summer. Cottages, sun, patios, and parents looking at places for their children who are headed back to school in September. The time in which real estate starts to ease off the gas and start to balance out for a few weeks. While properties are still selling - most of the areas are seeing a reduced number of sales, with a lower list price to sale price. We are seeing fewer listings that are priced below market value and holding off offers, instead, many are now listing at market value. While some listings are still holding off offers until a set date, there is no guarantee that they will receive any. While these listings might seem ripe for a quick underpriced buy from a buyer, the seller is often holding a certain price in their head and if they don’t get an offer to their satisfaction, we usually see them list around that number. That being said, there are still a bunch of good options for buyers who are looking to secure something before school starts, or while the market is slightly eased.

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

The Charlotte - Construction and Sales Update - July 2021

**For more information about The Charlotte visit The Charlotte page HERE, which has everything about the building in one place. This includes the floor plans, pricing, renderings, sales updates, etc. **

Richcraft Homes has been working hard and construction is coming along for The Charlotte. Located at 560 Rideau Street, the construction is currently pouring the 8th floor of the 14 floors and is on track for a late April or early May 2022 occupancy.

The building is roughly 40% sold out of the 197 units with pricing starting at $379,000 for the SB floorplan which is 389sqft on the 9th floor. Pricing for studio units is averaging about $1,000sqft and $800sqft for one bedroom units.

For more information about The Charlotte condos, or other pre-construction condos in Ottawa, please fill out the form at the bottom of the page.

Claridge Royale - Sales and Construction Update

**For more information about Claridge Royale, visit our Claridge Royale page here. Includes everything about Claridge Royale in one place, floorplans, renderings, etc.**

Claridge Homes continues to dominate the (pre-construction) condo market in Ottawa, and Claridge Royale is one of their projects currently under construction. Located at 180 George Street in the Byward Market, construction is well underway now and “at grade” or at street level. The building will consist of 237 units that are spread over 26 floors. The building is still on track to take occupancy on September 2023.

As of today, Claridge Royale is 66% sold out. Pricing for remaining units start at $346,000 for a “modified” Jewel floorplan - 490sqft studio unit on the 2nd floor. The most expensive unit remaining for purchase is the Paramount floorplan - 980sqft two bedroom two bathroom unit on the top floor (26 or PH2), priced at $978,000. The building average price per sqft for all units combined is $776sqft, with the lowest unit priced at $678sqft (Plush floorplan 645sqft on the 3rd floor).

For more information about Claridge Royale, or pre-construction condos in Ottawa, fill out the form below.

St Charles Market - Sales Update

**For more information about St Charles Market, visit our St Charles Market condo page here. Includes everything about St Charles Market in one place, floorplans, renderings, etc.**

Modbox Developments has come a long way with its stunning Beechwood project, St Charles Market. They are down to their last remaining unit (out of the 38 units and four penthouses) a gorgeous penthouse that is listed at $4,550,000. Penthouse #3 is a four-bedroom three-bathroom, custom-designed with 270-degree views, 3,923sqft of indoor space, and 426sqft of outdoor space. The unit includes two parking spaces and a storage locker.

https://stcharlesmarket.ca/

For more information visit the St Charles Market condo page here, or fill out the form at the bottom of the page. Questions about pre-construction condos in Ottawa? Let’s chat.

Ottawa Condo Market Statistics - June 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for June ‘21 in the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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If you are currently a buyer or seller in the Ottawa condo market (not intending to solicit if currently signed), I am willing to bet that you are pretty frustrated. Some units are selling for $100-200,000 over the asking price while others are sitting - 30+ days on market with no offers. It can certainly be difficult to navigate this market, especially without any guidance.

For Buyers: Hands down, understanding the market value of properties will give you a massive upper hand. The first tip we often give is to view more properties. The more properties that you see firsthand, the better understanding of where the market is and the value of comparable properties. Over time, you are able to walk in and tell where a unit should be priced. And while it can still be difficult in this market to predict sold price, having a solid market foundation is the best place to start. Working with an agent who has this market knowledge will give you a massive advantage, especially when they sell regularly in the building and area.

For Sellers: Working with an agent that understands the pulse of the market and can help you navigate your options along with ways to meet your goals. Not every seller’s goals are the same, not every building is the same, and then add in a multitude of other variables (unit finishes, occupants, views, neighbouring buildings, etc) and you have a ton of different options to navigate selling. Pricing below market and holding offers to a set time and date - is not everyone’s cup of tea. The best thing to do is have a discussion with an expert, someone who knows your building and knows the market.

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Kensington Lofts Hintonburg - Sneak Peek

**For more information about Kensington Lofts Hintonburg visit our Kensington Lofts Hintonburg page which Includes everything about Kensington Lofts in one place, floorplans, renderings, pricing, etc.**

We are getting close to launch, and Orange Design Build is doing an amazing job finishing up some of these units at Kensington Lofts Hintonburg. Take a look at some of the sneak peek photos to give you an idea of what is coming.

Kensington Lofts Hintonburg will consist of 26 premium lofts - a mix of one-bedroom, two-bedroom, and private entrance loft units. Units will feature 10’ ceilings and interior design from KODA Interiors. The most significant thing to note is that these units are already under construction and will be ready for immediate occupancy! Unlike traditional projects, this brand new building will be available for moving-in in 2021! Pricing will start from the mid-$300k’s and launch to the public in summer 2021.

Register now to be first in line. Fill out the form below.

CLICK HERE TO REGISTER

Kensington Lots Sneek Peek

Kensington Lofts Hintonburg - Launching Summer 2021

**For more information about Kensington Lofts Hintonburg visit our Kensington Lofts Hintonburg page which Includes everything about Kensington Lofts in one place, floorplans, renderings, pricing, etc.**

The registration website is now ready for Orange Design Build’s latest development, Kensington Lofts Hintonburg. The project will be located at 99 Pinhey in Hintonburg, and consist of 26 premium lofts - a mix of one-bedroom, two-bedroom, and private entrance loft units. Units will feature 10’ ceilings and interior design from KODA Interiors. The most significant thing to note is that these units are already under construction and will be ready for immediate occupancy! Unlike traditional projects, this brand new building will be available for moving-in in 2021! Pricing will start from the mid-$300k’s and launch to the public in summer 2021.

Register now to be first in line. Fill out the form below.

For more information about Kensington Lofts Hintonburg - fill out the form below.

Ottawa Condo Market Statistics - May 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for May ‘21 in the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Ottawa Condo Market Statistics - March 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for March 2021 in the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

James House - Urban Capital - Taking Reservations This Saturday

**For more information about James House, visit our James House by Urban Capital page which Includes everything about James House in one place, floorplans, renderings, pricing, etc.**

Everyone is very excited for this news to finally break - James House is coming! We will have floorplans, pricing, and the ability to submit worksheets (on a first-come basis) starting this Saturday the 20th. If you have any interest in the project, please fill out the form below and we will be in contact with the information Saturday morning (or earlier).

Please note - we are a Platinum VIP agent with Urban Capital and have first access to this project. If you are interested in the project or securing a unit please fill out the form below. There are numerous agents with fake websites claiming to have early access - and do not have the ability to reserve units.

James House - Urban Capital - Signage Up + Launch Update

**For more information about James House, visit our James House by Urban Capital page which Includes everything about James House in one place, floorplans, renderings, pricing, etc.**

Urban Capital is getting putting the finishing touches on the sales center and getting ready to launch the HIGHLY anticipated James House project. Located at 390 Bank street, the corner of Bank Street and James Street in Centretown, James House will be comprised of 128 units over nine floors and set for occupancy in 2023.

Note: We are going to have early access to the project and we will be able to secure units on a first-come basis before the public. If you are interested in securing a unit, fill out the form below.

Ottawa Condo Market Statistics - January 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for January 2021 in the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Matt Richling Chosen As 2021 Inman Brand Ambassador

Growing up in real estate you idolize certain peers and organizations for the work they do. Inman News and the Inman ambassador teams are perpetually at the top of my list. Year after year, they are made up of a highly respected group of global leaders in the real estate space. This is an incredible honour to be chosen amongst my peers, especially in this massive industry. Add to it that I am a kid from Canada. I am humbled and proud to be an Inman Ambassador. - Matt

Here is a link to the press release: https://www.inman.com/2021/01/19/inman-announces-the-inman-brand-ambassadors-of-2021/

“Inman Ambassadors have played a huge role beyond Inman events to nurture and support our industry. We’re bringing a greater cross-section of our industry’s brightest in real estate sales, tech and data, marketing, training and coaching, and abroad from Canada and Australia. They have been invited to the program based on their knowledge, high standards of experience in the industry, their elite networks, passion for giving back and building relationships.” — Laura Monroe, Inman’s global head of community

Ottawa Condo Market Statistics - November 2020

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for November 2020 in the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Well the crazy year that is 2020, is certainly keeping up with its craziness. The good news is that buyers are getting a prime opportunity to buy right now before things pick back up in the spring. Our number of new listings continues to be high, but not as crazy as last month. While our number of new listings are still double (Centretown) or even triple (Byward Market/Sandy Hill) what they were this time last year, they are trending downward from last month. Which is certainly good for sellers. Keep in mind we also need the number of sold properties to continue or to grow, which it isn’t - mostly staying similar to last year (Aside from Westboro - but I will get into that below). We are already seeing the days on market, and list to sold price, both relax in most areas. Which is mainly a by-product of increased supply.

Let’s play a quick game…

OTTAWA CONDO MARKET FACT CHECKER

TRUE OR FALSE? Ottawa condo dwellers are selling and moving to the country! They are selling their overpriced shoeboxes and moving to the rural farmland - buying chickens and preparing for the COVID apocalypse. They woke up one morning and realized they couldn’t survive downtown being in walking distance to everything and needed to move further so they had a lawn (to mow and weed - FUUNNNNN!), extra rooms to do zoom meetings, and even rooms to store avocados for their toast.

FALSE - I have seen a dozen articles in the past month focused on the Ottawa condo market that come to the conclusion that “Millenials moving out of the downtown to have land”. This is based on a guess from senior-level members of the Ottawa Real Estate Board when they broke down the monthly statistics - which caused a small avalanche of reporters to run with the headline. While our team certainly can’t speak to all of those that sold their condo since March 12th, I can guarantee that this is the furthest thing from the truth. Condo living is about lifestyle. This lifestyle seems foreign to non-condo dwellers. While a very small segment of sellers have made this move, the majority of sellers have either moved to another large city/back home, sold their investment property, or have moved into a larger condo to suit their growing needs. Keep in mind, if everyone is selling to move out of the city, then why are people still buying? This narrative is also growing tiring as we get closer to a vaccine.

I am going to do a follow up to the Ottawa Condo Market Fact-Checking where I will go further in-depth to debunk these lies that we are hearing.

WESTBORO aka ” The Unicorn?”
Looking at the stats, it is clear that Westboro is trending in a different direction than the rest of the city. The largest reason is because of the demand for more space by Ottawa condo dwellers. We have seen a huge increase in sellers moving into larger spaces (not for pet chickens), and Westboro is tailored to larger, more expensive, owner-occupied units. A condo building located in Westboro (or an area further from the downtown core) has fewer studio units and an increased number of larger two bedrooms.

Buyers
If you are thinking of buying in the next six months, keep in mind you might have the perfect storm to acquire prices before the spring rush hits. Many of our buyers decided to hold off this fall after hearing about a possible “second wave” which Ottawa has been able so far somewhat avoid. Over the next two to three months, you will have the ability to buy a condo without being in multiple offers which will most likely disappear when the spring market hits. Plus as a buyer, you have more options now, with less pressure. C’est parfait!

Sellers
The headlines make it sound like our condo market is collapsing - which is not true. Most of our neighbourhoods are on par with the number of sold units that we saw last year. If you need to sell now, price correctly, do what you can to show the full potential of the condo, and listen to the market. If you are able to wait, then do it. We are getting to the time of year that holding off listing until early in the new year is part of every listing appointment conversation.

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.