Ottawa Real Estate: key questions for 2014

Published 22 January 14 09:41 AM | Gord McCormick 

2013 was certainly a slowing year in Ottawa real estate, with residential prices inching up only at an inflation level and the average condo price actually decreasing.  This was a significant difference from the results over the last decade where more bullish results were recorded.  So where does that leave us for 2014?  Here are some of the key questions we are asking ourselves:

Listing Inventory:

Will the current excess listing inventory ease or will we see a further increase in the # of listings heading in to spring which could threaten the supply/demand balance?

How many seller listings which did not sell in 2013 will be recycled as “new listings” in 2014? (New listings:sales ratio was poor in 2013 and a lot of listed properties did not sell)


Will the resale condo market continue to suffer versus new construction?  Will there be as many project announcements this year as we have seen in recent years?

Will we see more suburban condo projects on the horizon?

Will expected revisions to the Condo Act help address some of the issues plaguing condo owners? See:  

Local Economy:

Will Federal budget restraint play a detrimental role in the local economy? Particularly, in the case of DND which accounts for a large % of government relocations and spending?

Will job losses/headcount reductions in the Federal Government and larger high tech companies continue to be offset by job growth in the private sector and tech start-ups?

Will local or provincial governments add more taxes affecting real estate to help pay for large transit and other infrastructure projects?


New Construction:

 Will condo sales and actual building/completions keep pace with project approvals? Will we see less new projects announced?

Will builders of new construction homes continue to be as aggressive with their building plans and buyer incentives?

Has demand eased for high end “infill” construction properties in high demand urban areas?


Buyers and Sellers:

Were some buyers sitting on the sidelines in 2013 waiting for a market dip or correction?  If so, will these buyers now return to the market given that a correction did not occur?

Were buyers and sellers even further apart on price expectations than normal in 2013, given the wide range of industry headlines during the year?


 Regardless of which way the market trends, we suggest that active buyers or sellers stay close to their REALTOR® and therefore stay up to the minute on market conditions affecting their plans, as market conditions can change on a daily and weekly basis. For boutique level service and big savings on listing fees, please feel free to consider us if you are not already committed to working with another real estate professional.

* not intended to solicit those with existing representation agreements


Gord McCormick, Broker of Record

Dawn Davey, Broker

Oasis Realty Brokerage



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