Stittsville sales strong out of the gate in 2019

Stittsville sales hot in winter 2019

Stittsville real estate continues demonstrating strong sales activity, despite the listing limitations and the presence of significant new construction activity in the Stittsville and South Kanata areas.

Overall residential unit sales on MLS® through February were up 51.9% (82 sales vs 54), it’s early yet and these are two of the three lowest sales months of the year!

Stittsville North of Hazeldean Rd. (MLS zone 8211) leads the way in units sold, with 38 sales this year vs 15 a year ago.  Prices in Stittsville North were also up strongly, with an average selling price of $429,530 up 12% vs 2018.

Kanata, meanwhile, also moved ahead with a 9.7% unit sales increase through February and an average selling price of $473,558, an average increase of 8.2%.

Barrhaven posted a unit sales increase of 16.9% at an average selling price of $465,043 which represented an average selling price increase of 11.1% vs last year at the same time.

Ottawa overall:
For comparison, the total Ottawa area unit sales are up 8% and average selling price is $451,446, (up 5.4%)  so the 3 suburban communities noted above are certainly ahead of the overall average thus far this year.

Key trends:
Listing inventory remains extremely low and we have seller’s market conditions.  So while this makes selling a home somewhat easier, the buying side can be a real challenge!

We are seeing listings sell faster and though we do not have definitive stats, it would appear it is another year that will feature many “offer dates” in listings and correspondingly, more multiple offers.

Strongest activity and demand is in the $300-$450K price segment which accounts for over 42% of sales.

Builder sales continue to be strong and prices are also advancing.  Buyers can expect lineups for new lot releases and diminished sales incentives, as builders continue to record strong sales.  Delivery timelines may also be pushed out, as builder resources may be strained in some cases, as they are recording strong sales on top of existing orders for homes under construction or to be built.

Expect to see fewer open houses, (and more cancelled ones) as properly priced homes in the midrange category sell very quickly.

Tips:
Very fast paced market and probably not one a buyer or seller wants to navigate without a Realtor on board.

Existing homeowners may want to consider a “listing readiness” evaluation, just in case the next “dream home” happens to hit their radar this year.  Even if you have no plans to move this year, be aware that prices could rise as much as 7 or 8%, given the current listing inventory shortage.  This means the average dream home could be going up as much as $30K-$40,000 this year!

We suggest you contact your Realtor to obtain a market evaluation and listing readiness review done, even if you don’t have immediate plans.  Doing so, may help decide on reno’s, updates or repairs that can be researched and completed over the course of 2019.  When one finds the dream home, there is no time for any of these activities.

Feel free to give us a call with any real estate question and we would be happy to assist, if you are not already working with another Realtor, You can also find us online at our website, blog and social media sites below.

Regards,

Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage 613-435-4692

oasisrealty@rogers.com  oasisrealtyottawa.com

@oasisrealtyOTT  https://www.facebook.com/oasisrealtyottawa/

 

Stittsville real estate report: midyear 2017

Stittsville landmarks

We are having the best year since 2010 in Ottawa real estate, with unit sales and prices up nicely and listing inventories dropping significantly from some historical highs in 2015.

Overall unit sales are up 10.8% and average prices are up 7.2% to $398,872 across the Ottawa Real Estate Board (OREB)

Builders are reporting an extraordinarily strong year with one report indicating a 44% hike in unit starts and one builder reporting that sales have doubled in the first half of the year!

So how is Stittsville doing?
Stittsville market is keeping pace with overall growth with the exception of areas north of Hazeldean Rd which is fairly flat in both sales growth and price increases.

Desperate need of more listing inventory north of Hazeldean Rd!
MLS® zone 8211

Unit sales are down 7.6% compared to midway in 2016 and average prices are pretty flat with an increase of .5% to $393,237.

Very limited listing inventory may be the cause of relatively fewer sales, for example, this area has only 22 total listings at time of writing and that is barely one month’s worth of sales! So this is a great time to be selling in Stittsville North (Fairwinds, Jackson Trails, Bryanston Gate, Timbermere, Poole Creek) especially.

One would have thought that this should push average prices higher but is not the case thus far. The other two Stittsville zones below have a more reasonable 3 months’ worth of listing inventory, although still much lower than in previous years.

Central Stittsville: (MLS® zone 8202 between Hazeldean Rd. and Abbott St.)

Unit sales are up 25.6% and average prices up 8.2% to $468,745. 55 residential properties currently listed.

South Stittsville: (MLS® zone 8203)

This area is also seeing strong results with unit sales up 21.7% and the average price up 5.8% to $512,666. 50 residential properties currently listed.

Key Factors:

Builder competition:
With so much new construction in Stittsville and Kanata, the resale market is always competing with builders. This can have an effect on those selling, particularly if the home is less than 5 years old and the builder still offers that particular model for sale.

Builders have been raising prices this year, along with the market overall.

Construction disruption:
Some streets/neighbourhoods may have resale affected by new construction in adjoining parcels of land, particularly where that development may change the ambience or traffic patterns.

The military invasion continues!
With the migration of DND HQ to DND Carling Campus at Moodie Dr., Stittsville and Kanata continue to be very popular for military families.

If you would like more information on this or any other neighbourhood and are not currently working with another Realtor by all means give us a call 613-435-4692 or check us out at our online co-ordinates below.

Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage
oasisrealty@rogers.com
www.oasisrealtyottawa.com
@oasisrealtyOTT
http://blog.oasisrealtyottawa.com/

One of Ottawa’s best liked real estate pages: https://www.facebook.com/oasisrealtyottawa/

 

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