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OTTAWA’S MARKET – MAY 2018

OTTAWA SPRING 2018 - CHRIS STEEVES REAL ESTATE - HOMES

Good morning Ottawa!!

 What can I say, it’s an exciting time for Ottawa and it’s hot real estate market.    And why wouldn’t it be; we have a very beautiful city here  :)

Quick Stats:

Prices are up once again, while sales volume has dipped slightly.  Again, this is mainly due to lack of supply (we just don’t have enough listings!)   The market is still quite hot in many areas, and homes, when priced well, tend to sell very quickly and often over asking price.

“In the first 5 months of 2018, the value of a single-family home has increased about 8% and approximately 6.5% for condominiums,” according to the Ottawa Real Estate Board.   Clearly the demand for homes in Ottawa is strong, with the spring market staying very hot.

 Ottawa Developments:

 Always interesting to look at the economic factors behind a city’s growth.  There are a couple announcements recently that should substantially affect Ottawa’s job & population sectors.

 1.  Amazon to open 1,000,000 sqft office in the east end of Ottawa.   This projected to create another 1,000 jobs for this city (this promises to be a major boost to the east end).     More info here.

 2.  DND announces a new facility near their Moodie Dr buildings.   The proposal is for 4,500 new employees, and approx 800,000 sqft (75,000 square meters).   Another huge development to boost Ottawa’s economy and housing demand!     More details here.

 That’s it for this month.  As always, I welcome all questions about anything real estate related.  Please don’t hesitate to call me anytime.   And there are a handful of exciting investment opportunities out there if anyone is interested in learning more.

CHRIS STEEVES

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

Visit our website:
WWW.CHRISSTEEVES.CA
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