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Ottawa Real Estate Market Snapshot – July 2020

The numbers are up again as this past months unit sales increased 19% from this time last year! Ottawa’s resale market offers solid returns for many Sellers, while Buyers continue to feel the squeeze. Those most impacted are especially those attempting to enter the housing market. Multiple offers are a common occurrence with over 57% of properties selling over the listing price compared to 33% of transactions last July. If you’re considering a move we’re here to help answer any questions you have, in this market you’ll want a qualified, professional real estate company protecting your interests.

Coolest Luxury Upgrades (and what they cost!)

Wine Cellar

Luxury homes offer just that – luxury – and many of them feature a variety of amenities to make life easier and add convenience. Here are the top 10 sought-after amenities for luxury homes compiled from interviews with Royal LePage agents across the country. Just in case you’re interested in upgrading your current home, estimated costs for each item is also included.

Car Lifts and Indoor Car Washes

Estimated Cost – Car Lift – $2,500 to $6,000Indoor Car Wash – $30,000+ If you have a luxury home, it only makes sense to have space to park your luxury cars. If space is limited, car lifts add capacity and an indoor car wash will ensure that your vehicles always look clean and shiny. 

Walk-in Refrigerators

Estimated Cost – $7,000 to $20,000 Let’s face it, we could all use a little more fridge space. A large kitchen with plenty of storage is a must for any luxury home but a walk-in fridge adds something extra special to appeal to the luxury home buyer. 

Spas, Gyms, and Yoga and Pilates Studios

Estimated Cost – $50,000+ This is not your standard home gym! A spa, massage rooms, and high end equipment ensure the ultimate fitness and relaxation experience right at home.

Wine Cellars and Tasting Rooms

Estimated Cost – $60,000 – $150,000 Exquisite taste and luxury go hand in hand and the same is true for wine. Some homes feature individual cellars for red and white wines, tasting rooms, and custom designed cabinet to provide optimal conditions for enjoying, storing, and aging fine wines.

Concierge Services

Estimated Cost – $50-$75 per hour To ensure that everything is taken care of in the home, a concierge service is just the thing for those who have the money to outsource time and energy consuming tasks. A concierge service will manage your domestic affairs, take care of the chores and errands, and even offer assistance.

Custom Theatres & Media Rooms

Estimated Cost – $50,000+ Take your TV, streaming, and movie viewing up a notch with lavish leather reclining seats, theatre sized screens, surround sound or even movie theatre style seating. All you need is the popcorn!

Wrapping & Sewing Rooms

Estimated Cost – $5,000+ Wrapping and sewing are both projects that require a little bit of space. Instead of clearing space at the dining room table, assign a room and put in optimal furniture and equipment to ensure that you have the space you need in a quiet and inspirational place.

Structure Wiring and Security

Estimated Cost – $25,000+“Smart wiring enables smart living.” By integrating home theatres, audio systems, communications, lighting, heating systems, appliances, and security systems, it is possible to control an entire home from your computer or smart phone. You will never be left wondering if you locked the door after you leave home, as you can always just check on your phone.

Home Elevators

Estimated Cost – $30,000 for equipment and installation; renovation costs, if needed, are extra While elevators may be a necessity for some people, they are certainly a convenience for all. They take luxury to a whole new level, literally.

Heated Driveways

Estimated Cost – $5,000 for a 600 square foot driveway + installation In Ottawa we get some pretty miserable winters. To make shovelling snow easier, or not even necessary, consider adding a heated driveway. With the flick of a switch, watch that white stuff melt away!

Whether you’re in the market to purchase a luxury home or just like to dream, these are some of the most unique and sought after amenities in luxury properties in Canada. Did we miss any? We’d love to hear what you think!

Ottawa Real Estate Market Stats June 2020

Market Snapshot: A dramatic upswing in the number of sales this past month with unit sales within 2% of this time last year! While it didn’t come as a surprise that the number of properties sold dropped by 55% in April, and 44% in May, in dramatic contrast the June figures are a welcome sign of things getting back on track in our marketplace. Prices continue to rise in both the condo & residential market and we are seeing increases in the double digits compared with last year, with less than one month’s supply currently available, we are still in a strong Seller’s Market. According to the Ottawa Real Estate Board’s latest statistics approximately 56% of properties sold over asking price and multiple offer situations are common. If you’re considering a move we’re here to help answer any questions you have, in this market you’ll want a qualified, professional real estate company protecting your interests. Message us anytime!

How to Move Safely During the COVID-19 Pandemic

Moving is a task that few find pleasure in, as it requires countless hours of organizing, packing, and lots of heavy lifting. Unfortunately, when doing this through a pandemic with travel restrictions in place and physical distancing measures still active, it may feel like there could not be a more inconvenient time to relocate. However, with closing dates getting closer, putting off your move may not be an option to your avail, but you should consider a few things before you go:

  1. Is your new town a hot-spot for COVID-19?

  1. Will you be coming into close contact with others during your trip?

  1. Are you or your co-travellers considered high risk for COVID-19?

All of these questions are important to consider when planning out your move to keep you, your family, and your new community safe by minimizing your risk of exposure. To ensure your move goes well despite these current circumstances, it is important to arrange things with more care than you may have originally thought to. Here are some steps you can take to make sure your move goes smoothly and safely during this unusual time.

Touch Base With Your Moving Company Businesses in Ontario are taking precautions to protect their customers as well as their employees, and moving companies are no exception. Many of these companies are taking a different approach to the way they work in respect to social distancing measures, this includes: estimates based on photos and videos; truck and equipment sanitation; and wearing masks and gloves while working with your belongings. While planning your move, you should make sure to touch base with your movers to ensure you understand the guidelines that they are following. In being aware of the processes beforehand, you can organize yourself to ensure the movers have the time and space they need to get the job done efficiently, while remaining physically distanced when you can.

Packing Supply Calculations Ensuring you have enough packing supplies while minimizing your trips to the store can be a tricky thing to do. Fortunately, companies such as U-haul have a free packing calculator right on their website to help you make an accurate estimate of all of the supplies that you will need to pack everything in your home. You can order directly from their website to receive all supplies at once, and choose between shipping and pick-up services. 

Pack Your Own Stuff. While packing can be a dreaded task that we would much rather outsource to someone else, by doing it yourself you can reduce contact with moving personnel. As we are aware, the novel-coronavirus can live on cardboard for up to 24 hours, so plan ahead to ensure your boxes are packed and untouched for this time frame before the movers arrive. Once you make it to your new house, try to avoid any unpacking for the same amount of time to reduce your risk of exposure. 

Be Courteous Of Others If you are moving from or into an apartment or condominium, try your best to inform your neighbours so that they can avoid movement throughout common areas, elevators, and stairways during this time. Use doorstops to keep doors open and reduce contact with high-touch surfaces, and have hand-soap, sanitizer, paper towels, and disinfectant in a marked box to ensure they are the last on and first off the truck, making them readily available for everyone to use. 

Welcome Home! Once you make it to your new home, be sure to disinfect all high-touch surfaces including door handles, cabinet and drawer pulls, light switches, and appliances both before and after your movers arrive, if possible. Secondly, set up your soap dispensers to ensure you have hand-washing stations available for use right away. Last but certainly not least, relax! You moved during a pandemic, and there is nothing you deserve more than a little downtime in your new abode.

Ottawa Real Estate Market Snapshot – May 2020

Image may contain: ‎text that says '‎OTTAWA AREA REAL ESTATE MARKET SNAPSHOT MAY 2020 residential TOTAL PROPERTIES SOLD MAY 1 345, % condo AVERAGE SALE PRICE $548,140 11.2 % GHL VERAGE PROPERTIESSOLD $343,589 15.5% YTD HIGHLIGHTS year date average prices $546,177 for residential and $348,458 condominiums, these values 13.8 per 17.8 percent increase over 2019, respectively. over 1,066 43 % 2019 cent ov2019 PROPERTIES SOLD 279 /////////////ااااا ROYAL LEPAGE ///ااااااا www.teamrealty.ca Team Realty info@teamrealty.ca 49 % 2019 Questions? We're always here to help‎'‎

Real Estate Market Snapshot May 2020:

Buyers are still on the hunt and would love to have more inventory to choose from. Typically we see a boom in the spring market in terms of number of available listings and sales but, as with many other things these days, 2020 is not like any other year we’ve experienced. The unit sales in May dipped significantly which is no surprise, as our industry has quickly and wisely adapted to the new guidelines and measures, while actively assisting buyers and sellers. A 44% decrease in sales is significant, however compared to the 55% decrease in April, many experts in our industry see that it as a positive sign that as our economy gets back on track and people feel more comfortable and confident in the future, our real estate market will quickly follow suit. Thinking of making a move? There are several new practices, both in our policies and in our use of technology that are helping to minimize the health risks, if you have any questions we are always here to help. Let’s chat!

What You Need to Know

Recreational cannabis has been legal in Canada for just over one year now, but Ontario has been the slowest of the provinces and territories with the implementation of the new laws regarding The Federal Cannabis Act. What has been the impact of these laws on the Real Estate market, and what will it be in the future? It is important to work with a knowledgeable, professional and trustworthy Real Estate professional to ensure your questions are answered.

To stay up to date and informed, here is what you need to know about the cannabis legislation in Ontario as it pertains to homeownership, buying and selling.

Time to Buy a Year-Round Cottage!

With many people working from home for the foreseeable future, the thought of a year-round cottage has become an option that more and more homeowners are considering. Here is how your own private retreat is even more practical now than ever before: LINK.

Having a comfortable and quiet place, with a great view, and a strong wifi connection will only be part of the reason you won’t want to leave. For any questions on how to plan accordingly to purchase your dream cottage, contact The Agent DK Team today.

Ottawa’s Most “Luxurious” Neighbourhoods

Ottawa’s neighbourhoods are diverse and most offer something for everyone. If you are looking for luxury, it’s all around us with little pockets throughout the city. Large lot sizes in rural areas and even within the city allow for beautiful large custom homes and these opportunities are popping up everywhere! Below you will find a list of some of Ottawa’s most “luxurious” neighbourhoods but it’s also important to remember that just like there are luxury homes all over, there are more moderately priced opportunities to own in these neighbourhoods as well. Each of these neighbourhoods offer unique opportunities and homes. It’s important to work with your agent to ensure that you find the right property, no matter what you are looking for!

Rockcliffe Park

Close to the center of the city, Rockcliffe Park is one of Ottawa’s most prestigious neighbourhoods. The area is zoned as a Heritage Conservation District which will ensure that its charm is maintained for years to come. The community is made up of primarily large and opulent 19th Century residences on large properties. The area is also home to a variety of political residences including the Governor General’s residence and Stornoway, the residence for the leader of the opposition. In 2016, the population of Rockcliffe Park was 1932 people and the benchmark price for a single family home in August 2017 was just over $1.5M.

Cedarhill Estate

Located directly adjacent to Barrhaven, Cedarhill is an enclave of stunning luxury homes in Ottawa’s west end. It is comprised of approximately 100 custom built homes, all sitting on 1 acre lots and it was established in 1979. The area has a strong community association who ensure community flower beds and common areas are maintained. Homes in this neighbourhood can be some of the priciest in the entire city!

Manotick 

Manotick is a larger community of almost 5000 people located in the city’s south-west end. Property values are high in comparison to other parts of the city but there are a variety of options outside of the luxury market as well. Manotick is home to some of the city’s most stunning luxury homes, specifically along the Rideau River. With a combination of large old historical homes and new modern mansions, there is something for everyone.

Westboro

Up until the turn of the century, Westboro was largely an industrial neighbourhood but given it’s proximity to the city’s core and the significant gentrification that has occurred, Westboro has become a hub for luxury and style. With high end boutiques, new condos, and trendy restaurants now lining Richmond Road, Westboro homes have seen a significant increase in value. Most homes in the area were built between 1900 and 1970 but more and more infill properties are popping up as the lot sizes can be large in some parts of this area. 71% of the houses are detached. With a total population of over 22,000, this area continues to grow year over year! These are just a few of some of Ottawa’s more luxurious areas but there are lots of opportunities for luxury in most areas of the city. To see what’s available in your area, Contact Ottawa Top Realtor Agent DK at 613-883-5555