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OTTAWA’S REAL ESTATE MARKET – 2019

OTTAWA REAL ESTATE MARKET 2019 - CHRIS STEEVES REALTOR

 

Good morning, Ottawans!

Whatta year we had in 2019!   HUGE GROWTH in so many areas, sales records being set, vacancy rates at all-time lows, and a buying frenzy for anyone trying to get into the market.

As a Realtor, I would say the most common question I hear is, “where’s the best place to buy real estate in Ottawa?”   Everyone wants to know where the ‘cool’ area is, and where the smartest investment opportunities are.   So here’s a snapshot of a few neighborhoods and how they performed over 2019 (disclaimer: these numbers will vary in each neighborhood, street, and property. It’s not an exact science, and buyers are urged to consult a professional  :))

2019 - SALES STATS - OTTAWA.JPG

If you were buying or selling real estate in Ottawa this past year, then you know how hot it was. Bidding wars became the norm, and it was a battlefield for buyers trying to get their hands on anything decent.   Realtors in Ottawa also had their work cut out for them trying to find deals.   And as you can see, some neighborhoods performed exceptionally, while there were a few that were surprisingly just kinda average (I was surprised to see Centertown at the lower end!).

Another common realtor question I get is, ‘where’s the best place to buy now?’.   The quick and dirty answer is really, ‘anywhere in Ottawa‘ (remember the expression; all ships rise with a rising tide)  but I figure we can be more specific.

– The burbs will continue to perform well (Kanata, Barrhaven, Orleans).  They’re growing fast, and will do well this year.   I see them slowing down slightly in a couple years after more inventory is introduced.

– Any family-friendly areas with ‘reasonably priced’ homes are going to boom.  When you’re buying a decent freehold house at the lower end of the price spectrum, you almost can’t lose.

– To name a few of my top picks, I’d say Woodpark, Braemar & Bel Air Park, Mckellar Park, Elmvale Acres, and Carson Grove.    These are good areas, that are affordable, and are central, and are close to LRT stations.

– And most areas near an existing or future LRT station will be a smart move.

In case I haven’t said this before, investing in a property is a complex process that depends on many criteria, so consult with an expert before diving in.

If you want more info and feedback on where/what to buy, definitely reach out as I’m always happy to have a chat 🙂

 And if you’d like more data on 2019 sales stats, you can find them here at the OREB website.

 

CHRIS STEEVES

Sales Representative. Residential & Commercial.
Capital Homes Realty
217-1419 Carling Ave, Ottawa, ON
Office: 613 744 0356

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