One of the ultimate question for a buyer when looking at real estate is when is the best time to buy? When considering the optimal time to purchase a home in Ottawa, Ontario, it's beneficial to examine recent market data provided by the Ottawa Real Estate Board (OREB).   Market Activity and Pricing Trends Sales Volume: In November 2024, 1,059 homes were sold through OREB's MLS® System, slightly down from 1,179 units in October. This figure is 3.1% below the five-year average and 0.5% below the ten-year average for November. OREB Average Home Prices: The average home price in Ottawa for November 2024 was $667,098, marking a 0.2% decrease from the previous month but a 5.4% increase compared to November 2023. WowA Property Types: Breaking down by property type, the average price for freehold houses was $757,814 (up 4.5% year-over-year), while condominiums averaged $445,843 (up 3.3% year-over-year). Inventory Levels Active Listings: At the end of November 2024, there were 4,036 active residential listings, representing a 38.2% increase from November 2023. This level is 72.8% above the five-year average and 30.5% above the ten-year average for November, indicating a growing inventory. OREB Months of Inventory: The months of inventory stood at 3.8 at the end of November 2024, up from 2.9 months in November 2023, suggesting a shift towards a more balanced market. OREB Days on Market Time to Sell: In November 2024, freehold houses took an average of 36 days to sell, compared to 31 days in November 2023. Condominiums averaged 35 days on the market, up slightly from 34 days the previous year. Seasonal Considerations Spring and Summer: These seasons typically experience higher market activity with increased listings, offering buyers more options but also leading to heightened competition and potentially higher prices. Fall and Winter: Market activity generally slows during these months, resulting in fewer listings but also less competition among buyers. Sellers during this period may be more motivated, potentially leading to better negotiation opportunities. Conclusion Analyzing OREB's recent data indicates that Ottawa's real estate market is experiencing increased inventory levels and a slight moderation in price growth, suggesting a shift towards a more balanced market. While spring and summer offer a broader selection of homes, fall and winter may provide advantageous conditions for buyers seeking less competition and more motivated sellers. Ultimately, the best time to purchase a home depends on individual circumstances, financial readiness, and personal preferences. The first step to buying a home is the intention to buy. If you have any questions about market conditions or anything relating a purchase of a home, our team would love to be part of that journey.  If you are actively looking, we recommend registering to our website to get the latest market trends and updates. Register here.  Give us a call anytime at 343-804-9117 or use our Booking Link to get started.   

Welcome to James House, the epitome of modern luxury living in the heart of Ottawa. Located at 10 James Street #512, Ottawa Centre, ON K2P 1Y5, this stunning new condo building offers a unique opportunity to experience contemporary urban living at its finest. With a recently reduced listing price of $2500, this never-before-lived-in 2-bedroom unit is an exceptional find that combines elegance, convenience, and comfort. A Thoughtfully Designed Space Step into this bright and airy apartment and be greeted by an open-concept layout that exudes sophistication. The hardwood flooring throughout adds warmth and style, while the gourmet kitchen is a chef's dream come true. Featuring sleek quartz countertops and a spacious island, the kitchen is perfect for both everyday meals and entertaining guests. The attention to detail in the finishes and fixtures ensures that every aspect of this home feels luxurious. The unit boasts two comfortable bedrooms, each designed with relaxation in mind. Whether you need a serene space to unwind after a long day or a quiet area to work from home, these bedrooms provide the versatility you need. The spa-inspired bathroom is another highlight, featuring a built-in linen toilet for added convenience and a touch of elegance. Unparalleled Amenities Living at James House means enjoying the ultimate modern conveniences right at your fingertips. The unit comes with in-suite laundry facilities, making daily chores a breeze. Step out onto your private balcony and take in breathtaking city views—an ideal spot for morning coffee or evening relaxation. Residents of James House have exclusive access to an array of premium amenities that elevate their lifestyle. Take a dip in the saltwater pool, stay active in the fully equipped gym, or enjoy the peace of mind that comes with professional concierge service. With internet and water included in your rent, living here means simplicity and luxury combined. Prime Location on Bank Street One of the standout features of James House is its unbeatable location on vibrant Bank Street. This bustling area offers the best of Ottawa's shops, dining, and cultural attractions right at your doorstep. From trendy cafes and gourmet restaurants to boutique stores and entertainment venues, you'll never run out of things to do and explore. Why James House is One of the Best Places to Live in Ottawa for 2025 As we look ahead to 2025, it's clear that James House is set to become one of Ottawa's most sought-after addresses. Here are just a few reasons why: 1. Modern Design: The contemporary architecture and high-end finishes make James House stand out as a beacon of modern design. 2. Convenience: With essential services like internet and water included, residents can enjoy hassle-free living. 3. Amenities: The exclusive amenities cater to a variety of lifestyles, from fitness enthusiasts to those seeking relaxation. 4. Location: Situated on Bank Street, residents have easy access to everything they need within walking distance. 5. Community: Living at James House means being part of a vibrant community where neighbors become friends. Ready to Move In This exceptional 2-bedroom unit at James House is ready for you to move in and start experiencing all it has to offer. With its reduced price, it won't last long on the market. Don't miss out on this opportunity—call now to book your showing and take the first step towards making James House your new home. In conclusion, if you're looking for modern luxury living in Ottawa with unparalleled amenities and an unbeatable location, look no further than James House at 10 James Street #512. Experience a new standard of living today!

Ottawa, the capital city of Canada, is known for its rich history, diverse culture, and stunning natural beauty. But did you know that Ottawa is also home to a thriving real estate market? If you are considering buying or investing in real estate in Ottawa, here are five reasons why you will love the market. 1. Stable and Predictable MarketOne of the top reasons to love Ottawa’s real estate market is its stability and predictability. Unlike some other major cities in Canada, Ottawa’s real estate market is not prone to major fluctuations or booms and busts. The market has remained steady over the years, with moderate growth and healthy demand for properties. 2.  AffordabilityCompared to other major cities in Canada, Ottawa’s real estate market is relatively affordable. While prices have increased in recent years, they still remain lower than those in Toronto and Vancouver. This makes Ottawa an attractive option for first-time homebuyers, investors, and those looking for a more affordable housing market. 3. Growing DemandOttawa’s real estate market has been experiencing growing demand in recent years, thanks in part to the city’s thriving tech sector and growing population. With the federal government and other major employers in the city, there is a steady stream of new residents looking for homes, which helps to keep the market stable. 4. Diverse Property OptionsOttawa’s real estate market offers a diverse range of property options to suit different needs and budgets. From cozy condos and townhomes to spacious single-family homes and luxurious estates, there is something for everyone in the Ottawa market. Additionally, the city offers a range of neighbourhoods and communities to suit different lifestyles and preferences. 5.  Strong Rental Market Finally, for investors looking to buy rental properties, Ottawa offers a strong rental market with high demand and stable rental rates. With the city’s growing population and thriving economy, there is a consistent demand for rental properties, making it a great option for those looking to generate passive income through real estate investing. In conclusion, Ottawa’s real estate market offers a stable and predictable market with affordable prices, growing demand, diverse property options, and a strong rental market. Whether you are looking to buy your first home, invest in a rental property, or simply enjoy the benefits of living in a thriving city, Ottawa’s real estate market is definitely worth considering. Get in touch today! 613-804-9117 Original Post Date: March 30, 2023 Updated: Dec 13, 2024