Hi everyone, I hope you are enjoying this beautiful weekend!
Well, it’s beautiful to me because I am partial to the heat… For those of you who are not, I hope you have found a place to stay cool and relax…. PSA – don’t forget to water your plants and flowers, they are thirsty!
While life has not returned to normal, there are some outdoor activities beginning again, patios are opening up, and I will finally be getting a hair cut soon! So, along these lines I have also noticed an uptick in real estate activity over the past few weeks. That being said, this newsletter is a recap of May (the last full month for which there are stats), so you will see a similar story to April in terms of inventory and sales, however price increases year over year have grown at a greater rate, more like increases seen pre-COVID… All this and more in the stats section below.
* I’m a little late this month, so if you are keen to see the stats for June, stay tuned for the July edition to come out on time in just a couple short weeks.
Speaking of the uptick in activity, I’ve got two great new listings to bring to your attention this month – a beautiful condo for sale at the SOHO Lisgar and a stunning townhome for rent in Greystone Village – more info and links below!
I had a lovely summer Fridaythis past week and took a little poolside photo with our new Tulip Team mascot! I’ve included the selfie below for fun – you can of course always find me on Instagram @kaylameyer613.
Home Sales in May 2020
1,066 freehold houses were sold in May 2020, with an average sale price of $548,140 showing an increase of 11.2% over May 2019. Price increases year over year are once again into the double digits, after a smaller increase was seen in April as the largest impact of COVID was recorded.
Condo Sales in April 2020
To sum it all up…
- In May 2020, amid the lockdown in Ontario, 1,345 residential properties were sold in Ottawa, compared to 2,410 in May 2019, a decrease of 44.2% in the number of properties sold vs the previous year.
- It took an average of 37 days for properties of all types to sell in May 2020, which is the same as the average in May 2019 and 11 days longer than the month before, April 2020.
- 1,650 properties were newly listed for sale in May 2020, which is a 48.8% decrease compared to May 2019.
- Much like we saw in April, while sales were cut in half so too were the number of properties on the market, maintaining the balance of the market and stimulating the average price index to continue to rise.
- Ottawa was in a low inventory, high competition market before COVID, and this trend continues.
403-300 Lisgar Street
Welcome to your your personal oasis in downtown Ottawa! This 2 bedroom, 2 bathroom corner suite offers a practical layout and superb features throughout – hardwood flooring, 9′ ceilings, open concept living, oversized windows, in-suite laundry, the list goes on. The kitchen includes European appliances & a custom extended breakfast bar. The second bedroom includes a custom Murphy bed to maximize the space while still allowing for guests. Luxury boutique style amenities feature concierge services…
67 Oblats Avenue
Nestled between the Rideau River and the Rideau Canal, this Barry Hobin designed 2 bedroom, 3 bathroom, plus Den, end unit townhome is located in the newly developed, luxurious community of Greystone Village, where you can not only walk to go for a paddle along the river but also to all the urban amenities of Old Ottawa East, the Glebe, Elgin, uOttawa, or hop on the light rail to get anywhere you need to be! Spread over three levels, this townhome is urban living at it’s finest…
Poolside with the Tulip Team’s Tulip
—Wishing you a beautiful sunny Sunday!