Glencairn semi-detached homes post huge gains in 2019

sold by bully offer in 2 days

Kanata’s Glencairn neighbourhood had suffered a bit of a stigma after enduring 3 “storms of the century” resulting in flooded basements a decade or more ago.  The city has invested many millions to solve the problem and so far, this seems to have worked.  Many homeowners were able to take advantage of a City program that reimbursed those in the most flood prone locations to install sump pumps, to mitigate any future flooding.  Also, city infrastructure has been significantly improved, with a total investment of some $35M.  But “time heals all wounds” and Glencairn has shone in real estate in 2019, especially the semi-detached home category.

By far Kanata’s most affordable neighbourhood:
Glencairn is home to relatively more moderate priced housing and has been a bit of a bargain for many years due to the flooding stigma previously noted.  Many bungalows are available and it also boasts a huge variety of semi-detached homes in all varieties from bungalows, to hi-ranch style, to splits to 2 storey.

The average price of all homes sold this year, has not broken through the $400K barrier, so we can expect more growth in future.

90.9% sold at list price or above!
As house prices generally  have risen over the last couple of years, Glencairn has drawn more attention from price point conscious buyers and sales of semi-detached homes have been fiercely competed in 2019, which has produced a very strong average price increase of 11.4% .  In fact, 50 out of 55 semi-detached homes sold in Glencairn up to the end of November, were sold at list price or above which generally means multiple competing offers, reflective of significant demand.

Note: The Ottawa Real Estate Board quoted 36% of all sales were above list price in October and Glencairns’ 90.9% year-to-date ratio in the semi-detached category may be the highest in the city.

Still affordable?
The average selling price for Glencairn semis is up to $341,846 but this is still very affordable when townhomes across the city have averaged over $400,000 this year and the average semi across the Board is pushing the $500K mark at $484,549.  So we can expect further growth and competitive bidding for the foreseeable future.

Glencairn offers:
Most of Glencairn was built in the 1960s and there were no townhouses or other multiple dwelling units in the initial phases, therefore it does not have the density of newer neighbourhoods.  Larger lots, mature trees, wider streets, lots of parks, schools and the Trans-Canada Trail plus a wide variety of services and recreation are all appreciated in this neighbourhood.  Proximity to the Kanata technology business and the new DND HQ and express transit are also key features.  Commuters also have pretty quick access to highway 417.

You can read some interesting facts about Glencairn’s history on the Community Association webpage here: http://kanatasouth.com/?page_id=6

 

Gord McCormick, Broker of Record
Dawn Davey, Broker Oasis Realty Brokerage
613-435-4692  oasisrealty@rogers.com
www.oasisrealtyottawa.co

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