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.