While the market remains balanced, homes are taking longer to sell—often 30 to 60 days—unless they’re well-priced and in good condition. Sellers holding out for last year’s prices are finding they need to make significant price reductions. Also,  an important update on capital gains tax: properties over $250,000 will soon see a tax increase to 66%. This change, effective June 25th, affects many, particularly investors relying on real estate as part of their retirement planning. This policy could prompt investors to sell before the tax hike impacts their returns. Dive deeper with Chris’s ..read more

We recently had the pleasure of handling the sale of a luxury home in Westboro. It was the second time I had the pleasure of working with these wondeful clients.  In a market where similar high-end listings often sit unsold for extended periods, we were able to successfully list and sell this property in just a few short weeks. Our success was due to a combination of strategic marketing and thorough preparation by the home owners. Here’s a detailed look at the methods that led to this achievement. Staging with Kids: Staging a home can be a challenge, especially with young children around ..read more

In Ontario’s real estate market, staying one step ahead is crucial, especially with recent legislative changes making exclusive listings—homes not advertised on the public market—more private than ever. But accessing these hidden gems just got easier for our clients, thanks to our partnership with Knokd. Exclusive listings offer a unique advantage: they benefit sellers seeking privacy and buyers eager for less competition and early access to unique properties. With Ontario’s new legislation tightening rules around advertising these properties, they’ve become even more elusive. That’s where Kno ..read more

Here’s the newest Suburban Statistics Series update. We’re highlighting stats for the five biggest urban neighbourhoods in Ottawa. Since Ottawa is pretty spread out, it’s interesting to see how things vary in each area. These stats are all based on MLS OREB sales from January 1, 2023, to March 31, 2023, compared to the same period from January 1, 2024, to March 31, 2024.     The post SUBURBAN STATISTICS UPDATE MARCH 2024 appeared first on Chris Scott - Ottawa Real Estate ..read more

As the temperatures rise, so does the activity in the Ottawa real estate market. Buyers are emerging again, actively making offers on properties that are well priced and present well. While some sellers are hanging on to 2022 inflated prices they tend to remain sitting on the market. The Bank of Canada’s target inflation rate stands between 1-3%, with our current standing at 2.9%. Although we’re within the target range, we’re not at the lower end, which is why we did not see an interest rate adjustment this past week. If we get that closer to 2% we might see some rate relief by June. Despite ..read more

Here’s the newest Suburban Statistics Series update. We’re highlighting stats for the five biggest urban neighbourhoods in Ottawa. Since Ottawa is pretty spread out, it’s interesting to see how things vary in each area. These stats are all based on MLS OREB sales from January 1, 2023, to February 28, 2023, compared to the same period from January 1, 2024, to February 29, 2024.     The post SUBURBAN STATISTICS UPDATE FEBRUARY 2024 appeared first on Chris Scott - Ottawa Real Estate ..read more

Spring is approaching, and the real estate market, after a unique start in 2024 with hesitant buyers and sellers, is showing signs of optimism. Check out why we expect a pickup in activity as confidence grows, anticipating a dynamic and bustling season ahead. If you have questions about what’s happening in your neighbourhood, please don’t hesitate to get in touch. My team and I would love to have a chat with you.               The post Predictions for Spring Market appeared first on Chris Scott - Ottawa Real Estate ..read more

Welcome to our Client Contest! This contest is designed to reward our valued clients who help us grow by referring new clients to our services. Participation in this contest is subject to the terms and conditions outlined below. 1. Eligibility The contest is open to all existing clients and supporters except for family members of employees of our team. Participants must be 18 years of age or older. 2. How to Enter Participants enter the contest by referring new clients to our company who enter into an agency relationship with our firm. The clients must reference your name to get a ballot for t ..read more

Here’s the newest Suburban Statistics Series update. We’re highlighting stats for the five biggest urban neighbourhoods in Ottawa. Since Ottawa is pretty spread out, it’s interesting to see how things vary in each area. These stats are all based on MLS OREB sales from January 1, 2023, to January 31, 2023, compared to the same period from January 1, 2024, to January 31, 2024.     The post SUBURBAN STATISTICS UPDATE JANUARY 2024 appeared first on Chris Scott - Ottawa Real Estate ..read more

  The Ottawa real estate market underwent notable changes in the past year, transitioning from a seller’s market to a more balanced one. This shift was influenced by multiple interest rate hikes by the Bank of Canada, which promptly led to a slight decrease in home prices and demand as they adjusted to the rising rates. The heightened cost of living and escalating mortgage costs caused many individuals to delay their plans for buying or selling homes. Thus, you can see a large decrease in houses sold in 2023, down 11% from 2022. Let’s look at the key indicators of our market.   Ave ..read more