May 2014 - The Ottawa housing spring market forecast

May 2014 - Hammer Home News

Dear Friends,

 

Finally, we are experiencing the weather we have all been waiting for, and with that the real estate market begins to boom. I must admit as soon as it started to get hot outside, the housing market followed pretty quickly and so did the mortgage market with the announcement last week of a new 1.99% low rate mortgage.  This month I thought I would share with you the overall April calculations of sales in the Ottawa housing market from the Ottawa Real Estate Board. Everyone is talking about the changes in our market, here is a quick summary of numbers and forecasts of this year’s spring market.

 

In April, Realtors in Ottawa sold  1,420 residential properties through the Ottawa real estate board’s Multiple Listing Service® system, compared with 1,569 in April 2013, that is a decrease of 9.5 per cent in one year.

 

“There has been a decrease in units sold on a year-to-date comparison of 3.9 per cent, but the Ottawa market continues to remain relatively stable,” says Randy Oickle, President of the Ottawa Real Estate Board. “With typical ‘spring’ weather beginning a lot later this year, it is not unexpected to see the market have a later upswing than normal. That being said, properties sold in April were on the market an average of 45 days, a few days less than what was indicated in March.”

 

I am confident our market will remain stable, it is clear we all see more homes on the market today however the prices of homes remain strong, sellers are keeping firm on their price and buyers, once they know its the perfect fit are ready to pay the asking price. There are more options today but selection can be a good thing.

 

As always friends, I welcome you to share with your friends, family or someone you know who are simply looking for a Real Estate Broker they can trust, my contact information. It would be my pleasure to assist in any home buying and selling process and I always appreciate your referrals, it is the biggest compliment to me and my team.

 

I wish you and your loved ones all the best,

 

Sincerely,



Rachel Hammer

 


Canadian Home sales rise in April, but spring still lacklustre: CREA
The Canadian Press ~ OBJ


Canadian home sales were up from March but down from a year ago in April, signalling the lacklustre spring market will continue.

The Canadian Real Estate Association said home sales were up 2.7 per cent from March to April, boosted by the Vancouver and Toronto markets, but sales through the Multiple Listings Service were down 0.3 per cent compared with a year ago and one per cent below the 10-year average.


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This Month's Trivia Question:
 
Which home am I currently listing above has a garage for the car enthusiast? Give me the address only please.

The first five individuals to respond correctly will win a $10.00 gift card to Starbucks.

Email your answers to 
rachel@rachelhammer.com
.

Only one winner per household will be awarded a gift card and all previous winners must wait a minimum of 30 days before being able to win this trivia question.

Thank you and good luck!

 

 
Last Month's Trivia Question:
 
What is the world's most expensive Monopoly set? Please provide details of the board.

The Answer was: An exclusive $2 million (£1.4 million) Monopoly set was created by the jeweller Sidney Mobell, San Francisco, USA in 1988. The board is made from 23 carat gold, rubies and sapphires top the chimneys of the solid gold houses and hotels and the dice have 42 full cut diamonds for spots.

Congratulations to: Robert R., Jamie G., Chantal W., Rebecca R., Noah H.,  were the first to correctly answer last month and win a $10.00 gift card to Starbucks.
 
 

Rachel Hammer, Broker
www.rachelhammer.com


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Our mailing address is: 1749 Woodward Drive, Ottawa ON K2C 0P9

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Hammer & Associates Brokerage · 4 - 3101 Strandherd Drive · Ottawa, Ontario K2G 4R9 · Canada

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Thanks Rachel for all your amazing work in getting in getting our home sold. You and all of your staff have just been incredible to work with. You think of every detail and are so passionate about what you do.
• Brenda