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November 2021 - monthly market snapshot
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Good morning all,

Yes, I know, I know, this month's newsletter is a little tardy! But I wouldn't want to leave you hanging with no October stats! Better late than never right?? So, here you have it, a mid-month surprise ;)

The days are getting shorter and the holiday season is fast approaching, but activity in the Ottawa real estate market continues at a heightened pace, as buyers compete for what remains to be historically low inventory levels, particularly for centrally located single family homes....

In this month's edition:
  • As always, we'll look back on the Sales and Inventory Stats for the past month and also look a little closer at how this October compared to October 2020.
  • I have a fabulous new Featured Listing to share with you this month, in one of Ottawa's most sought after neighbourhoods, scroll on to find out where and get all the details!
  • While still historically low, we did see an increase in Mortgage Rates over the last two weeks, see below for a current rate overview.
  • Last but not least, we'll check out the Photo of the Month - which this month actually includes several photos, along with a little recommendation for a fun outdoor activity in nature...
October 2021 vs. October 2020
  • In October 2021 members of the Ottawa Real Estate Board sold 1,677 residential properties, a decrease of 21.3% compared to the 2,132 properties sold in October 2020
  • There were 1,960 new properties listed for sale in October which is a 25.9% decrease compared to October 2020, leaving the total number of residential properties for sale at 1,776 a decrease of 7.6% from October of last year.
  • There is currently 1.1 Month of inventory on the market and a new listing sales rate of 85.6%, low inventory levels persist and it is still a strong seller's market in Ottawa.
  • It took an average of 26 days for properties of all types to sell in October which is 7 days longer than the average in October 2020 and 1 day longer than September 2021.
October 2021 Home Sales
*click to enlarge*
  • Of these 1,677 sales, 1,263 were freehold houses.
  • The average sales price for a freehold house sold in October 2021 was $716,378, which is an increase of 18.9% compared to this time last year.
October 2021 Condo Sales
*click to enlarge*
  • Of these 1,677 sales, 414 were condominiums.
  • The average sales price for a condominium sold on October 2021 was $404,760, which is an increase of 9.6% compared to this time last year.
Featured Listing

69 Second Avenue - a historic townhome in the heart of the Glebe!
This charming three bedroom, plus den townhome has wonderful bones; boasting high ceilings, bright rooms with large windows and stunning historic touches throughout. You will find a lovely front garden to welcome you home and out back there's a peaceful oasis, including a pond frequented by frogs in the summer! This home has been well loved and is ready for a new owner to come in and create their own perfect space and new memories.
The Glebe is truly one of the most exceptional neighbourhoods in Ottawa as it simply has so much to offer; surrounded by countless parks and just steps away from the Rideau Canal, where you can enjoy beautiful summer walks and winter skates, or grab a coffee and browse the boutiques along Bank Street, or catch a game at TD Place - all within walking distance. The Glebe is also home to some of Ottawa's best schools and a quick commute downtown.

Follow this link to view the full listing on Realtor.ca!
Click to view the video tour of this wonderful home!
Current Mortgage Rates - via MortgageBrokersOttawa.com
* click for more info *
Photos of the Month - making friends at Mud Lake!
If you are looking for a fun activity in nature without leaving the city, head on over to Mud Lake! Located just east of Britannia Bay, you will find lovely walking trails and adorable animals, who will eat right out of your hand! Be sure to bring some seeds! Note that our 4 legged friends are not permitted - only the ones who already live there :D
 
That's all for this month friends!

If you, your friends or your family have any real estate related questions or needs, please don't hesitate to reach out to me, it would be my pleasure to help however I can,

 
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Copyright © 2021 Kayla Meyer, All rights reserved.

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Kayla Meyer, Sales Representative · REMAX Hallmark Realty Group, Brokerage Independently Owned and Operated · 610 Bronson Avenue · Ottawa, On K1S 4E6 · Canada

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