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OTTAWA’S MARKET WARMS UP WITH MORE LISTINGS AND CAUTIOUS BUYERS 

February 2025 ■ The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 617 units in January 2025. This was a 4.2% decrease from January 2024. Home sales were 13% below the five-year average and 9.6% below the 10-year average for the month of January.

“Ottawa’s market is seeing increased activity as more listings hit the market and buyers start to re-engage,” says OREB President Paul Czan. “Many buyers and sellers had been waiting for more conducive market conditions, but with the recent rate cut and potentially lower interest rates on the horizon, optimism is growing. While there’s more supply, the availability of suitable properties in various market segments remains tight. This is reflected in some homes selling quickly while others linger on the market. Sellers should be prepared to price competitively and present their homes in the best light to capture buyer interest in this evolving market."

“The recent Bank of Canada rate cut, introduction of U.S. tariffs, along with upcoming provincial and federal elections, introduce factors of variability,” adds Czan. “That said, confidence is growing, and more buyers are expected to return to the market in the coming months, leading to an increase in transactions.”

By the Numbers – Prices:

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.

·         The overall MLS® HPI composite benchmark price was $649,900 in January 2025, an increase of 5.2% from January 2024.

o The benchmark price for single-family homes was $713,000 up 2.3% on a year-over-year basis in January.

o By comparison, the benchmark price for a townhouse/row unit was $448,000, down 3.9% compared to a year earlier.

o The benchmark apartment price was $436,900, up 4.5% from last year.

·         The average price of homes sold in January 2025 was $670,258, increasing 5.8% from January 2024.

·         The dollar volume of all home sales in January 2025 was $413.5 million, up 1.3% from January 2024.

By the Numbers – Inventory and New Listings:

 ·         The number of new listings saw an increase of 3.0% from January 2024. There were 1,359 new residential listings in January 2025. New listings were 14.1% above the five-year average and 9.3% above the 10-year average for the month of January.

·         Active residential listings numbered 3,312 units on the market at the end of January 2025, a gain of 57.3% from January 2024. Active listings were 90.6% above the five-year average and 48.9% above the 10-year average for January.

·         Months of inventory numbered 5.4 at the end of January 2025, compared to 3.3 in January 2024. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

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January is brimming with a special kind of energy—the promise of a fresh start. It’s a time to dream big, set meaningful goals, and envision the possibilities in our personal lives, health, and careers.

There’s something empowering about taking those first steps toward turning aspirations into reality.

Of course, change often comes with mixed emotions. It can feel exciting yet uncertain, hopeful yet bittersweet. But it’s through change that we discover our resilience and unlock our potential. I see this time and again in real estate—whether it’s a family downsizing for simplicity or a first-time buyer taking the leap toward homeownership, every step is an opportunity to embrace the future with hope and optimism.

The New Year brings excitement, but it also comes with its share of questions, particularly about the economy. None of us can predict exactly how shifts in the political and economic landscape will impact interest rates or the real estate market. What we can do, however, is stay informed and rely on expert insights to guide our decisions.

 Market analysts suggest that 2025 could bring a more balanced real estate market. After years of rapid changes—whether in interest rates, home prices, or inventory levels

—the outlook is cautiously optimistic. Interest rates are expected to stabilize or see gradual adjustments, and demand for housing, particularly in the Ottawa area, is likely to keep the market active.

For buyers, this might mean an opportunity to secure a property at a fair price without the competitive frenzy of recent years. For sellers, it’s a chance to position your home strategically to attract prepared and motivated buyers.

 While uncertainty can feel unsettling, it’s also a powerful reminder of the importance of planning and staying proactive. Whether you’re considering a move, exploring your options, or simply curious about how 2025’s trends might affect you, I’m here to offer clarity and guidance every step of the way.

 The best decisions start with the right information and a trusted partner. Let’s connect to ensure your plans align with the market and your goals for the year ahead.

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Helping Seniors Embrace the Next Chapter with Confidence

Selling your home and embracing a new adventure can be a thrilling journey, yet, it's common to hesitate. Let's address some key concerns and benefits, and even discuss the role of your beloved kids in the process. We're here to make it all feel like a breeze!

Why Seniors Delay Moving?

  • Comfort & Familiarity: Your home is filled with cherished memories, making it tough to say goodbye.
  • Fear of Change: Moving can be daunting, but it can also bring exciting new experiences.
  • Family Dynamics: The thought of involving kids in your decisions can be complex. But remember, they want what's best for you!

Benefits of Moving Sooner: ✨

  • Streamlined Lifestyle: A new, downsized home means less upkeep, more time for you.
  • Safety & Accessibility: Modern homes often offer senior-friendly features, like step-free entry and grab bars.
  • Community & Amenities: Independent living options provide social activities, and local facilities offer full-service amenities, from dining to healthcare.

Kids in the Decision:

  • Your kids are your biggest fans. Involving them can ensure they understand your needs and preferences. Together, you can make the best choice for your future.

Independent Living Options:

  • Condos: Maintenance-free living in a vibrant community.
  • Apartments (Buy or Rent): Flexibility to suit your budget and lifestyle.

Local Senior-Friendly Facilities:

  • There are several options across the city offering Independent Living, Assisted Living or Memory Care. The key is to plan ahead if possible and visit a few of these facilities to decide which one offers the little touches you are looking for. Natural settings, access to shopping or dining, pet friendly? Having a clear sense of what will best suit your needs will help in your selection.

Your new adventure awaits, and we're here to help you make the move, stress-free and light-hearted. Explore Ottawa's vibrant senior living options.

Ready to embrace your next chapter? Contact us today, and let's make it happen together!

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Putting the Homeowner First: A Realtor's Perspective

In the world of real estate, it's easy to get caught up in the glitz and glamour of the industry—the accolades, the listings, and the charismatic real estate agents. However, amidst the excitement, it's crucial to remember that the heart of real estate lies not in the agents themselves, but in the homeowners and their unique needs. As a dedicated realtor, my utmost priority is to connect with my clients and ensure that their biggest investment decision is not only sound but also the least stressful experience possible.

Understanding the Homeowner's Perspective: When it comes to buying or selling a home, homeowners are driven by a myriad of factors, ranging from financial aspirations to personal circumstances. As a realtor, I firmly believe in taking the time to listen and understand my clients' individual needs, goals, and concerns. By putting the homeowner at the center of every transaction, I can tailor my services to create a personalized and seamless experience that addresses their specific requirements.

Building Trust and Connection: Establishing a strong rapport and fostering trust is fundamental to a successful client-realtor relationship. I strive to go beyond the mere transactional nature of real estate by genuinely connecting with my clients on a personal level. By taking the time to understand their unique preferences, lifestyle, and long-term vision, I can offer informed guidance and support throughout the entire process.

Guiding Through the Decision-Making Process: Navigating the real estate market can be overwhelming, especially for those making significant investment decisions. As a realtor, my role is not just to provide expertise and knowledge but also to act as a steady guide, offering valuable insights and advice. I am committed to empowering my clients with the information they need to make informed choices, ensuring that their best interests are always at the forefront.

Reducing Stress and Facilitating a Smooth Transaction: The process of buying or selling a home can be filled with stress and uncertainty. Recognizing this, I make it my mission to alleviate as much of that burden as possible for my clients. From conducting thorough market research to streamlining paperwork and negotiations, I handle the intricate details, allowing homeowners to focus on what matters most—their own lives and aspirations.

A Holistic Approach to Real Estate: Real estate is not merely about transactions; it is about people and their stories. I believe in taking a holistic approach that goes beyond the confines of a single transaction. By building lasting relationships and maintaining open lines of communication, I aim to be a trusted advisor for my clients, even beyond the immediate real estate needs. Whether they require assistance with home maintenance, renovations, or future investment opportunities, I am there to provide ongoing support.

In a world where real estate can sometimes overshadow the true essence of the industry, I am committed to recentering the focus on what truly matters—the homeowner and their needs. As a realtor, I understand that my success lies in helping my clients achieve their goals and make sound investment decisions. By placing the homeowner at the forefront of every transaction, I strive to create a seamless and stress-free experience that exceeds expectations and builds lasting trust. Let me be your guide on this exciting journey, as we work together to make your real estate dreams a reality.

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Is it time to downsize?

Seniors may choose to downsize for a variety of reasons, including financial benefits, lifestyle changes, and health considerations. By downsizing, seniors can reduce their housing costs, minimize maintenance expenses, and free up equity that can be used to fund their retirement or to enjoy their golden years. Here are some specific reasons why seniors may want to downsize:

  1. Financial benefits: Downsizing can help seniors save money on housing expenses, including mortgage payments, property taxes, utilities, and maintenance costs. This can free up cash that can be used for other expenses, such as travel, hobbies, or medical bills. Additionally, downsizing may allow seniors to unlock equity in their homes, which can be used to supplement retirement income or to leave a legacy for their children or grandchildren.

  2. Lifestyle changes: As seniors age, they may find that their current home no longer meets their needs. For example, they may have difficulty climbing stairs or maintaining a large yard. Downsizing to a smaller, more manageable home or a retirement community can offer a more relaxed and convenient lifestyle, with less stress and more opportunities to socialize with other seniors.

  3. Health considerations: For seniors with health issues, downsizing to a smaller, more accessible home or a retirement community can provide a safer and more supportive environment. Many retirement communities offer amenities such as health care services, wellness programs, and transportation, which can help seniors maintain their independence and quality of life.

Regarding Ottawa's housing market, the past 10 years have seen significant changes in real estate values. According to the Ottawa Real Estate Board, the average sale price of residential properties in Ottawa has increased well over 65% over the past decade. This growth has been driven by a number of factors, including population growth, low interest rates, and a continued low inventory of available homes.

Despite rising home prices, downsizing can still be a financially savvy choice for seniors. Smaller homes and retirement communities are generally more affordable than larger homes, and they often offer a range of cost-saving amenities, such as maintenance services and energy-efficient features.

In terms of lifestyle benefits, downsizing can offer seniors more freedom, less stress, and more opportunities to pursue their interests and hobbies. By living in a smaller home or a retirement community, seniors can spend less time on home maintenance and more time enjoying their retirement years. Additionally, many retirement communities offer social activities, fitness programs, and other amenities that can help seniors stay active and engaged.

Overall, downsizing can be a smart financial and lifestyle choice for seniors. By freeing up cash, reducing expenses, and enjoying a more relaxed and convenient lifestyle, seniors can make the most of their retirement years and enjoy their golden years to the fullest.

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