January 2020

Welcome to a new decade everyone!

I hope your 2020 started off a bit better than mine, as I write this post 9 days of flu misery… It was terrible, I truly hope you are all able to avoid it this season… But, I made it through and I’m ready to hunker down and get back to work!

First things first, I have some exciting news to share with you all:

After 5 years in the Real Estate business, the past 4 of which I was doing double duty as a public servant, I have officially broken free from my golden handcuffs and have made the leap to 100% Realtor! In addition to this, I have officially teamed up with Re/Max Hallmark’s Home Team Ottawa, one of the top Real Estate teams in the city, where I will have the resources to even better serve the needs of my clients! These are exciting times my friends! I look forward to being able to help even more people achieve their Real Estate buying, selling and Investing goals in the year ahead – so if you know of anyone I could help in this way, please let me know!

Now, it’s that time in newsletter land where I get to do a deep dive into the numbers from the year that just past, so get ready for a hefty helping of 2019 Stats! Capped off with a glamour shot of my new car because she is just too shiny and pretty not to share πŸ˜€

A Year of Stats

*All metrics were “up” in 2019, meaning that homes and condos were selling for more and selling faster than ever before.*

Home Sales in 2019

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  • Residential Home Sales were up 4.7% despite inventory being historically low, meaning that homes spent significantly less time on the market in 2019 – 22% less time to be exact – and, conversely sales prices were up 8.9% year over year.
  • Ottawa’s average, monthly home sales price went over $500,000 for the first time ever this year, breaching this bench mark in June, November and December.
  • The inventory to sales ratio continues to shrink, a trend that can be seen even more distinctly by comparing 2017, 2018 and 2019 levels (see graph below).
  • When looking at 2019 overall, there was an average of 2.3 months of home inventory at any given time, which is significantly less than the historical trend.
*click to enlarge*
(the first bar of each colour is the monthly inventory, the second is the monthly sales)

Condo Sales in 2019

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  • The same trend can be seen in the Condominium Property Class which saw sales raise 13% over 2018 levels and likewise a historically low inventory meant that condos spent 36.3% less time on market and sold for 9.3% more than the previous year.
  • Ottawa’s average, monthly condo sales price went over $300,000 for the first time ever this year, breaching this bench mark seven times! It did so the months of April, June, August, September, October, November, December. Finishing the year off in this way there is no slowing in pace expected for condo sales in the new year.
  • The inventory to sales ratio continues to shrink, a trend that can be seen even more distinctly by comparing 2017, 2018 and 2019 levels (see graph below).
  • When looking at 2019 overall, there was an average of only 1.8 months of condo inventory at any given time! In the final five months of the year where sales prices were strongest, this inventory was even lower at only 1.3 months on average.
*click to enlarge*
(the first bar of each colour is the monthly inventory, the second is the monthly sales)

Current Market Conditions

Blue was ready for her close-up!

That’s all for this month friends!

Don’t forget to follow me on Instagram @KaylaMeyer613!

And, as always, if you know of anyone who may be interested in buying or selling a home in Ottawa, please feel free to send them my way, it would be my pleasure to assist – your referrals are what keep me going strong!

Until next month,