Oasis Realty Brokerage, Ottawa Real Estate
Gord McCormick Ottawa, ON K2S0H6
Phone: 613-435-4692 Mobile: 613-371-9691
 

Think summer is "dead" in Ottawa real estate? ...think again!


Old wives tales abound:
There are many myths around real estate and one we hear quite often concerns summer being  a “slow time” in Ottawa real estate:  “schools out and everyone goes on vacation or to the cottage…” or  “…the weather is too nice/summer is too short and everyone is enjoying outdoor activities and festivals” and so on.

We have had many customers over the years thinking they should defer listing their properties “until things pick up in the Fall/after Labour Day”…..big mistake!

Peak market has crested…but…
April, May and June are the peak season for Ottawa real estate in terms of unit sales, as well as the number of listings.  Both unit sales and new listings have started to ease off somewhat now that we are at the end of June but summer is still a hugely important time in the real estate year. Serious buyers and sellers are very active in the market and in fact, may be under some pressure to make a purchase &/or selling deal if they have not been successful during peak season.

July is likely the biggest unit sales month until next April!
Based on unit monthly sales over the last several years, our sales in the month of July will not be exceeded until April 2017…so bottom line: there is no better time to be selling before next spring than right now! July is the 4th biggest sales month in terms of unit volume and August is 5th....so don't "wait for the fall market"

Take a look at the numbers:

Month

2012

2013

2014

2015

2016

Jan

682

602

589

627

626

Feb

1008

914

870

853

911

March

1388

1167

1189

1208

1166

April

1568

1573

1420

1570

1714

May

1890

1804

1792

1926

1921

June

1662

1594

1661

1694

        1985

July

1376

1339

1445

1436

        1491

August

1145

1219

1203

1279

 

Sept

995

1119

1133

1244

 

Oct

1021

1069

1121

1161

 

Nov

928

891

893

990

 

Dec

615

610

640

703

 

While it is true that unit sales drop 20-25% in the 3rd quarter vs the 2nd quarter, it is still much, much better than the 4th quarter where sales drop 45-50% in terms of units sold.

So talk to your Realtor® or call us at 613-435-4692 if you would like some help getting your housing objectives met this summer.  Sellers working with us save 20-40% in commission and HST compared to typical 5% real estate fees and get our full service! (not intended to solicit those with existing representation agreements)

Gord McCormick, Broker of Record
Oasis Realty Brokerage
613-435-4692 or direct 613-371-9691 mobile/text

www.oasisrealtyottawa.com  @oasisrealtyOTT   https://www.facebook.com/oasisrealtyottawa/


May 2016 sales bloom in Ottawa real estate


May unit sales are typically the largest of the year in Ottawa real estate and this year was no exception! (June is the #2 sales month with April #3)

Sales results were about the same as May 2015 and slightly better than the 5 year average.  Overall average prices seem to be fairly flat but that can vary by area and price point.  Key sales ranges were in the $300K-$400K range, followed by the $400-$500K range.

On a year to date basis through May: residential unit sales are up 2.4% this year with an average selling price of $398,745 and condo unit sales are slightly ahead by .8% vs 2015 with the average selling price slightly lower at $257,816 (-1.7%)

Builders are reporting fairly strong sales this year (although this can be influenced by # of new units released), so be sure to engage your Realtor to help you find the right new construction home for your needs.

June is a key sales month but summer is also very important to our real estate year.  July-Sept is the 2nd largest quarter after April-June and July is typically the largest unit sales month sellers will experience until next April.  There is a bit of a myth that "summer is slow in real estate and things pick up in the Fall" ...not true!


Seller tips for summer showings in Ottawa


(updated blogpost from June 2014 and one of our most popular posts!)

Late spring and early summer should be the best time to sell a residential property, as most properties will look their best and we experience peak sales volume during these months.  Peak season goes by quickly; however-so sellers are reminded of a few basics to make sure their listing is as ready as can be:

1. Remember:  buyers shop online first, so make sure your house and property are 100% ready for listing and that you get the best photos possible. A professional real estate photographer is recommended.
2. Curb appeal counts!  How does your property look from the street?  What could be done to make it more appealing?
3. Lawns, gardens and trees should be well maintained and be an attractive accent not an eyesore.  Buyers will assume the whole home is poorly maintained if the exterior property has not been looked after.
Hire a lawn service, gardener or landscaping company if necessary.
Replace any dead, damaged or diseased plants, limbs or branches.
Fertilize lawn in early spring and again late spring. Cut grass at least once weekly.  Though costly, don't be afraid to water your lawn if Mother Nature does not!
4. Paint, stain and caulking: decks, fences, trim, garden sheds and caulking should be reviewed and updated where necessary.
5. Stage your outdoor space front and rear! Replace faded furniture or cushions or buy new furniture to highlight your best outdoor spaces. Key features like decks, patios and verandahs should get special attention and investment if required.
6. Check roof shingles, flashing and eaves trough.  Clean and repair as required.
7. Seal your driveway.
8. Organize your garden shed and garage so buyers can see there is lots of room for their “stuff”.
9. Make sure garbage cans or composting does not produce any odour.
10. Indoor temperature at 21-23 C. (70-75F) One wants visitors to know the AC works well but don’t make it too cold or contrasting with the outside temperature.
11. Basement dehumidifier may be required as dampness and poor air circulation can produce a stale even musty odour in basements during this humid time of the year. Portable fans may also help or one can run the furnace fan if it is not too noisy.
If you have them, make sure your HRV (heat recovery ventilator) and your furnace humidifier are turned off, so you are not allowing additional moisture and humidity in the home.
12. Check window wells for drainage and remove any clutter or debris.
13. Clean all windows inside and out or have a professional company do it.
14. Check for unwanted wildlife, insects or pests and take remedial action i.e. remove wasp or yellow jacket nest.
15. Make sure all pet damage or droppings are attended to.
16. Remove any surplus or extraneous material that may be cluttering any portion of outdoor space.  When in doubt…move it out!
17. check your front door and surrounding area to make sure it is clean, well maintained and dust and debris free-this is the entry to the property and reflects the care taken with the whole property in the eyes of buyers.
18) encourage friendly neighbours to keep up their yard work and property maintenance-after all; what you sell your property for will have an impact on what they sell theirs for in future!

Happy selling!

Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage
613-435-4692
www.oasisrealtyottawa.com  oasisrealty@rogers.com

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