As most will know, we have been experiencing a sellers' market for some time now, as demand far exceeds available supply and prices are being pushed up. (approx 9% for the year 2019 on average)  The table below really quantifies the problem, as it shows the number of actual properties listed at the end of January over the last 5 years.

Listing inventory: total residential and condo properties listed
End January        2020: 1,670  -41.7% vs 2019
                            2019:  2,866 
                            2018:  3,732
                            2017:  4,636
                            2016:  5,621  buyer’s market to start 2016 to balanced market by year end.
                            2015:  5,754  We were in a buyer’s market in 2015, hence this elevated level.

So while this makes selling generally easier...buying in this market is anything but.....

Gord McCormick of Oasis Realty helped us sell and buy our homes six years ago.  Our experience working with Gord, both as seller and buyer was great.  So when leaving Ottawa meant it was time to sell again our first choice for realtor was Gord McCormick.

Gord did not disappoint.  He gave generously of his time and in-depth knowledge as we prepared to sell.  Then he carried out a marketing strategy that was a perfect fit for the market.  Having received multiple offers, our home sold over list price with no conditions within the first week.  To have such a successful conclusion in such a short time was the best of all worlds.

Gord is a true professional that puts the best interests of his clients first.  He has a consultative style and is always tactful, never pushy and wise in counsel.  Combined with his most effective marketing strategies, you have a realtor that we can most heartily recommend.

Judy & Kerry

November 2019

The average residential selling price topped $500,000 year to date in November, up almost $40,000.
Where could this go in 2020?  
What is the average condo selling price right now?
Is listing inventory still in short supply?
What effect will the City Airbnb decision have on Ottawa real estate?
For answers to these questions and more, check out our November results post on our blog here: http://wp.me/p8m8ue-6X

A super listing popped up recently and we are very proud to have helped our buyers secure their dream home!

This late in the year listing was properly priced for a quick sale by the listing agent, so we found our buyers competing with many other buyers for this property.  Our buyers were aggressive and came in with a sound offer price and with appropriate conditions for this well maintained country residential property.

With expert help from mortgage broker par excellence, Leo Maiorino and uber inspectors Steve Ott and Moe Rayyes, the buyers were able to firm up the purchase and start packing for a timely move.

Congratulations and thanks to all involved!

Gord McCormick, Broker of Record

Dawn Davey, Broker

Now sold! MLS 1170371 Lovely split level 3+1 bedroom  home nestled in the woods only 12-15 minutes from Kanata or Stittsville.  Recently used as an organic farm (non-certified) and artist studio.  Many recent updates done.  Attractively priced at $429,900 1162 Upper Dwyer Hill Rd.

Our lower fixed overhead and independent broker status has allowed us to help sellers optimize their selling costs, without giving up any service levels.

We say “optimize” because too often, sellers feel they must either brave the “for-sale-by-owner” challenges or pay a 5% Realtor a large chunk of their accrued equity to get their home sold.  We believe we offer a great middle of the road approach that may be “just right” for many sellers, especially those that are also buying. 

Here are some programs for suburban residential properties currently available: 

Full MLS® listing including buyer representative commission: 3.5% +HST

Buy and Sell with us and pay only 2.5 or 3% full service commission +HST

Exclusive (non MLS®) listing: 2.0% +HST

some conditions apply, not intended to solicit those with existing representation agreements.

You can do the math on what you would save by dealing with us compared to a 5% Realtor but our sellers routinely save $10,000-15,000 by working with us.  Oh yes, and we have been doing this for over 13 years now with hundreds of satisfied customers.

If you wish to see the level of support provided for our MLS® listings, you can click here and we are sure you will see that you get the same level of excellent Realtor support, you expect. https://www.oasisrealtyottawa.com/Sellers_What_we_do_for_you/page_2526954.html

Give us a call and we would be happy to schedule an introductory meeting to discuss your housing plans and to see if you feel there is a good fit for working with us.  You can also check us out further online via our social media sites and blog below.

Gord McCormick, Broker of Record
Principal Broker, Ottawa Real Estate Board
Dawn Davey, Broker
Oasis Realty Brokerage
513-435-4692  613-371-9691
oasisrealty@rogers.com
http://blog.oasisrealtyottawa.com/
www.facebook.com/oasisrealtyottawa
https://twitter.com/OasisrealtyOTT

Many sellers must be asking themselves this question after watching “ For Sale” signs go up and then get marked “ Sold”  in just a few days or seeing endless online posts about how fast a listing has sold and for over asking price.

Seller’s Market:
We are in a sellers’ market in Ottawa in 2018 and listing inventory is scarce, prices are rising and things are selling much more quickly than in a typical balanced market. (a balanced market is one where there are roughly equal numbers of buyers and sellers)

Agents earn their keep…but..
A sellers’ market brings different challenges and experienced Realtor expertise is still important in getting the marketing strategy right and managing the complexities of offer dates, bully offers and multiple offers to a successful result.  Clearly however, the marketing time and cost has to be lower, so shouldn’t the seller get a lower rate?  After all with average prices increasing (8% in March 2018) the Realtor is getting an automatic raise, since their remuneration is based on a % of the selling price?

Why not save $7,000-$14,000?
Our programs offer full MLS® service by two experienced brokers and most of our sellers will save the above commission and HST using our 3.7% or 3% commission programs. (not intended to solicit those with existing representation agreements)

Example provided is based on current residential average selling prices and savings will vary by property being sold.

Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage

613-435-4692  oasisrealty@rogers.com

For real estate news and information at one of Ottawa’s best liked facebook pages, check us out at: https://www.facebook.com/oasisrealtyottawa/