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

Stittsville real estate soaring through October 2019

Stittsville real estate outpaces market in 2019

Stittsville has experienced a building and population boom in recent years and is now approaching 35,000 inhabitants.  Quite a leap from being “just beyond the fringe” that was a popular radio commercial tagline back when Stittsville was a quiet village removed from both urban and suburban Ottawa with a population of 3,000 or so.  In fact, when combined with Kanata, the area has the largest population and number of residences in the Ottawa metro area and is the fastest growing.  Stittsville is projected to have close to 60,000 residents within the next decade!  So with all the new construction going on, it is no surprise that real estate has made strong gains in 2019.

This year’s residential numbers:
We are using the residential resale numbers for the 3 main Stittsville MLS® zones, though October 2019.(does not include any condo sales)

Stittsville North MLS® zone 8211 for sales north of Hazeldean Rd

Stittsville Central MLS® zone 8202 for properties between Hazeldean Rd and Abbott St.
Stittsville South MLS® zone 8203 for properties south of Abbott St.

For comparison purposes, the Ottawa MLS® as a whole has recorded sales increases of 3.8% in unit sales and an average selling price increase of 8.4% for residential properties to a price of $484,891.

North Stittsville (8211) is rocking!
This area closest to highway 417 has had and continues to have growth and new construction with a good variety of residential housing to cover many price points.  It also offers best access for commuters who rely on the 417 for commuting purposes.

Unit sales are up a strong 20.1% this year and the average selling price is up 11.9% to $473,866

Central Stittsville (8202) sees strong price growth but inventory limits unit sales:
Unit sales in Central Stittsville are actually down this year by 3.2%, perhaps reflecting the lack of listing inventory available.  Still, good demand has pushed the average price in this area up 13.6% to $552,472.

South Stittsville (8203) unit sales up 7.1% and the average price sold this year is $579,098, up 8%.
Most of these unit sales are resale homes and we have no visibility in to the numbers of new homes being sold in Stittsville but it is obviously significant at the present time, with most of this growth in the eastern section of Central Stittsville and in South Stittsville.

Outlook for 2020:
Expect to see continuing sales  and price growth as all the fundamentals continue to look good with the local economy and the pace and range of new home construction in the area is significant and pretty compelling for a lot of homebuyers, who may also feel that they should buy now, before prices escalate any further.  Those who have existing homes to sell then of course, offer that existing property for sale to co-ordinate with the new home possession date.

So it should continue to be “all systems go!  For Stittsville real estate in 2020.

 

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