October 2022 - monthly market snapshot
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Happy Thanksgiving everyone,

I hope you are having a lovely weekend, whether you are enjoying it with family, friends, or taking some much needed time for yourself... and in the spirit of enjoying the long weekend, I've got a quick update for you this month, so 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 few shout outs to some recently sold properties!
  • It's time for my annual tulip bulb deliveries!
  • Finally, as usual, we'll wrap up with a photo of the month, with a fall theme of course.
September 2022 Sales Stats
  • Last month, in September 2022, members of the Ottawa Real Estate Board sold 1,080 residential properties, which is a decrease of 32.5% compared to September 2021. 
  • Year to date, 12,882 homes and condos have been sold in Ottawa, which is 21% less than the number of properties sold from January to September 2021.
  • There were 2,371 new properties listed for sale in September, leaving the total number of residential properties for sale at 3,254, an increase of 60.7% from the end of September 2021.
  • There is currently 3 months of Inventory on the market and a new listing sales rate of 45.6%, showing a definitive switch into a balanced real estate market in Ottawa.
  • It took an average of 41 days for properties of all types to sell in September, which is 16 days longer than September 2021 and 5 days longer than last month.

Freehold Houses: Sales stats for the past 12 months:
*click to enlarge*
  • Of these 1,080 sales, 816 were freehold houses.
  • The average sales price for a freehold house sold in September 2022 was $706,658, showing an increase of 0.5% over September 2021.

Condominiums: Sales stats for the past 12 months:
*click to enlarge*
  • Of these 1,080 sales, 264 were condominiums.
  • The average sales price for a condominium sold in September 2022 was $450,987, showing an increase of 6.0% from September 2021.
Featured Listing : 320 Parkdale Avenue, Suite 402
Inside this two bedroom, two bathroom suite, you will find pride of ownership throughout: Gleaming hardwood floors, 11ft ceilings, large south facing windows with custom blinds, and a space that is warm and inviting. From the spacious kitchen, you look out over the bright, open concept living/dining room leading out to a large, private balcony. The principal bedroom is truly a retreat, including a huge walk through closet with built-in storage and a full ensuite bathroom. The second bedroom is also a great space for a home office.
For anyone in love with the neighbourhoods of Hintonburg and Wellington West, here's your chance to live in both! This highly sought after building straddles two of Ottawa's favourite neighbourhoods, where you can walk to some of the best parks, shops, breweries, cafes and restaurants the city has to offer! A stones throw from the Parkdale Market, steps from Tunney's LRT Station and the Ottawa River pathway, this location cannot be beat for anyone who wants to live without the need for a car.

This building is 1/2 converted warehouse (45 Spencer Street) and 1/2 unique, modern lofts (320 Parkdale Avenue), which together include two rooftop decks with BBQs, a well appointed gym and a party room, and every other amenity you could possible need is just a short walk away!
For more info, you can vew the full listing here: 402-320 Parkdale Avenue
Just Sold!
318 Everest Private, D

The price was right for this charming, two bedroom condo in Elmvale Acres! The market slow down couldn't keep a new buyer from scooping it up.
31 Springfield Road, C

I knew this one wouldn't last long! After a week of showings and a very busy open house (my first one since March 2020!), this home received two offers and is sure to make the lucky buyer happy for years to come.
Tulip Bulb Deliveries
It's time to plant your tulip bulbs and patiently wait for some beautiful spring blooms. Being that we are The Tulip Team, this is something we love to help with! If you bought or sold a home with me this year, you can expect a visit from me this week with a bag of tulip bulbs! If you are a past client, you might just get lucky and receive a visit too. Finally, if you are reading this newsletter and think "hey, I'd love some tulip bulbs!" let me know and if I have any extra I will be sure to bring them your way. 🌷🌷🌷
Photo of the Month
The most stunningly red tree! All dressed up for the change of seasons...
That's all for this month friends!

As always, 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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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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