on November 26, 2015 by test_editor in Archive_2015, November, Print Articles, Comments Off on November 26, 2015: As We Change, So We Grow…; Real Estate by the numbers.

November 26, 2015: As We Change, So We Grow…; Real Estate by the numbers.

November 26, 2015: As We Change, So We Grow…;
Real Estate by the numbers.

By Doug Herbert Royal Lepage Gale Real Estate.

Neighbourhoods throughout Kitchissippi Ward, have seen many changes in recent years, with more in the offing. As the old adage says, change is growth. Neighbourhoods that were flat out scary twenty years ago have become safe and desireable locations today. With these advances come demographic changes, architectural evolution, and a renewed interest in property values.

Homeowners in the Newswest circulation area continue to enjoy high resale values and below average selling times on the market. The townhomes and semis being sold in local neighbourhoods tend to be new builds — which explains the median selling prices and longer times on market.

“Ottawa’s resale market continues to be a stable environment. Inventory has continued to decline since the busy spring market last May, bringing us back into balanced territory.” says David Oikle, president of the Ottawa Real Estate Board.

Also in October, the Ministry of Municipal Affairs and Housing confirmed to the Ottawa Real Estate Association, that they plan on giving municipalities the ability to charge a second municipal land transfer tax. In response, OREA launched a campaign against burdening homeowners with these additional land transfer taxes. If implemented, these additional taxes could add an average of $10,000 to a typical Ottawa home, making home ownership less attainable for the average family.

You can visit http://www.DontTaxMyDream.ca , and tell your MPP how you feel about more taxes.
2 tables (below) of figures as a graphic.
Photo Caption: Starting this month, Newswest will take an occasional look into current real estate listings and recent property sales across Ottawa’s west end.

Table 1:

CURRENT LISTINGS – Newswest Reader Area**
House Style Newswest Area
Active Units # Median List Price
Detached 78 $ 649,450.00
Rows / Semis 58 $ 724,450.00
Condos 107 $ 389,900.00

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Table 2:

OCTOBER 2015 SALES – Newswest Reader Area compared to Ottawa Area* Ottawa Real Estate Board
House Style Newswest Area Ottawa Area
Sold Units # Oct 2015 Median List Price Days on market Sold Units # Oct 2015 Median List Price Days on market
Detached 21 $ 545,000.00 42 687 $ 360,000.00 66
Rows / Semis 10 $ 747,500.00 90 265 $ 305,000.00 50
Condos 9 $ 395,000.00 30 143 $ 214,200.00 65

 

* The statistics are derived from the Ottawa Real Estate Board’s Multiple Listing Service. Plrase Note: statistics are useful in establishing trends but should not be used as indicator of an increase nor decrease in value of specific properties. If you are curious about the value of your home, and/or specific neighbourhood statistics, contact your favourite reat estate agent for assistance.

** Newswest Area is defined by Woodroffe Avenue to the West, O-Train / Bayview to the East, Car5ling Avenue to the South, and the Ottawa river to the North.

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