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December 2022 - monthly market snapshot
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Good morning everyone,

I hope your December is off to a great start and that you are not too overwhelmed with what is always a very busy time of year. With that in mind, let's get right to it!

In this edition:
  • Of course we will kick things off with a look back at the past month of stats in the Ottawa real estate market.
  • I've got a beautiful featured listing to share with you, as well as a second look at last month's feature, which is still up for grabs!
  • As usual, we'll wrap up with a photo of the month, featuring some sparkles for the festive season.
  • PS scroll to the very bottom to check out the first iteration of my new business card. I have new headshots and am in the process of integrating them across my media. I'd love to know your thoughts on the card, as it's a work in progress!
November 2022 Sales Stats
  • Last month, in November 2022, members of the Ottawa Real Estate Board sold 846 residential properties, which is a decrease of 41.9% compared to the number of properties sold in November 2021. 
  • Year to date, 14,690 homes and condos have been sold in Ottawa, which is 24.4% less than the January to November of 2021.
  • There were 1,598 new properties listed for sale in November, leaving the total number of residential properties for sale at 2,933, an increase of 118.9% from the end of November 2021.
  • There is currently 3.5 Months of Inventory on the market and a new listing-to-sales ratio of 52.9%. 
  • It took an average of 49 days for properties of all types to sell in November, which is 22 days longer than November 2021 and 6 days longer than the previous month.
  • In summation, these factors continue to indicate balanced market conditions in Ottawa.

Freehold home sales stats for the past 12 months:
*click to enlarge*
  • Of these 846 sales, 658 were freehold houses.
  • The average sales price for a freehold house sold in November 2022 was $680,031, showing a decrease of 5.2% over November 2021.

Condominium sales stats for the past 12 months:
*click to enlarge*
  • Of these 846 sales, 188 were condominiums.
  • The average sales price for a condominium sold in November 2022 was $415,533, showing a decrease of 3.8% over November 2021.
Featured Listing: 531 Markdale Terrace
Located on a large corner lot, this end unit town home will win you over immediately with its stunning finishes and the amount of space it offers! The large side yard wraps around to a fully fenced backyard, ready for family fun. A custom interlocking stone pathway leads to your front porch, while also creating additional driveway parking.
With three sides of exposure and large windows, this home is absolutely filled with natural light (every window has custom blinds!). You will love the kitchen - tons of storage, beautiful granite counter tops, large island with bar seating - overlooking the living/dining area, perfect for entertaining. Cozy up to the fire in the second living space that leads out to the back yard. Upstairs, you will find a bonus rec room on the landing and a grand primary bedroom with double doors, stunning en-suite and huge walk-in closet. Still need more space? The basement is fully finished and if you need an additional bathroom there is a rough-in ready to go!
Located in Riverside South, you will find yourself in close proximity to great outdoor spaces as well as all the amenities you need; Get your groceries at the nearby Independent, Metro or FreshCo. Prefer not to cook? Check out Broadway Bar & Grill, Bento Sushi or Black Dog Bistro. If you like staying active, the Four Seasons Park, Riverside South Community Centre and Rideauview Community Centre are all close by, offering a wealth of activities. If you have any students at home, there are plenty of great schools nearby like St. Jerome School, Ecole Elementaire Michel Dupuis and St. Francis Xavier High School just to name a few. 

For additional photos and information about this stunning home, check out the listing on the Tulip Team's feature page!
A Second Look: 568 Malahat Way
Welcome to 568 Malahat Way, which you might remember as last month's featured listing! If you didn't have a chance to check it out yet, please visit the listing page on Realtor.ca , where you can view all of the photos, the video tour, and plenty of additional information!
Photo of the Month
I pulled over to snap this shot of a wonderfully festive tree outside the Museum of Nature. I must admit, what's really missing in this photo is some snow!
That's all for this month friends! As always, don't hesitate to reach out to me with any real estate related questions or needs you may have, and please share my contact information freely with your friends and family.

Sincerely,

 
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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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