Ottawa Condo Market Statistics - June 2019

Each month we take a closer look and brake down the sales data of downtown condos from the previous month. Here are the statistics for June and the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Wow, things keep getting hotter and hotter in the Ottawa condo market. The average selling price, days on market, list to sold price, - all keep getting more intense.

Sellers: While things are doing well for you, we are still seeing properties that don’t sell above asking, and are taking quite a while to sell. It is not as much of a sellers market as one would think. Pricing and how a unit is shown, is more important than ever. I am seeing condos listed both over and under market value (by lack of experience), and seeing condos priced correctly while also zero effort put into preparing for showings. If you had looked at selling over the last few years, but decided to put a tenant inside instead, this might be the time to review the market and data.

Buyers: Patience, preparation, and persistence. Be patient - supply is low right now and the best units will come on the market (maybe not in your price point anymore, but they will list, I promise). This isn’t a crazy sellers market. You have to be able to say no if the unit isn’t what you are looking for. Preparation - Get that mortgage pre-approval now. Know your numbers and what exactly you can afford. Being able to walk into the offer process with shorter timelines will make you stand out and give you more confidence with your offer. Persistence - Again, there is a supply shortage. The best units will come on the market, will just need to wait it out. We are also seeing more and more multiple offer scenarios, which means that you have a larger chance of loosing out if you don’t act quickly or are not prepared. If you do loose out, don’t give up!

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Claridge Moon - Choosing Units + Views

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Pre-construction condo buying can be very exciting but also intimidating. You are trying to choose the best unit, with the best view, with out spending over your budget. Last thing you want to do is to purchase a unit, thinking that the view is going to be unobstructed to move in and find out that you are facing another building.

We have gone through all the leg work to track down heights and make things easier for you.

The Building

The building is one of three in the development. The condo building is 27 floors, located at the north east corner of the lot. The rental building will be 27 floors, located at the south west corner of the lot. The podium block will be three floors, and then the third tower will be nine floors and located the at the south east corner of the lot.

North Facing

Directly to the north of the condo building is a 13 floor building plus mechanical rooms on the roof (located across the street). To clear this building you would need to be roughly on the 14th floor, or 15th floor to be safe. There is no planned development that would affect the north facing view. The north facing units would be Hydra, Ariel, Luna, Equinox, and the Atlas floorplans (North west corner).

North facing view from the 19th-20th floor (58 meters).

North facing view from the 25th floor (73 meters).

South Facing

Directly south of the condo will be the nine floor tower (plus possible mechanical units). Further from the building (across the street) you are currently looking at a parking lot. They owner has applied to use the lot as a parking lot for the next three years. Previously Brocolini had started moving forward on a mixed use project, and then most recently a hotel and rental building that would consist of two towers both 27 floors.

To have the best unobstructed views facing south you would want to be located on the 10th or 11th floor and above. South facing units would include the Titan, Elara, Calypso (1,2,3), Vesta (South west corner), and the Portia floor plans (South east corner).

South facing view from the 15th floor (44 meters).

South facing view from the 25th floor (73 meters).

West Facing

Directly west of the project is a 14 floor building, however the rental building as part of this project will also be located to the south west of the condo tower. In order to have the best views, you would want to be on the 15th or 16th floor. West facing floor plans would include the Atlas (North West) and the Vesta (South West).

West facing view from the 20th floor (58 meters).

West facing view from the 25th floor (73 meters).

East Facing

Directly to the east of the building is a 25 floor building (plus roof structures), which is located across the street. East facing floor plans would include the Callisto and the Portia (south east).

Trying to sort out the best unit that is within your budget? We can chat about your goals and help you find the best fit. Fill out the form below and let’s chat more.

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Claridge Moon - Sales Update

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Claridge launched its latest project called Claridge Moon which will be located at the corner of Queen and Lyon street. The project will consist of 266 units over 27 stories. As of today, Claridge has sold firm 33 units with another 10 units currently held reserved for signing. Pricing has not yet increased, yet we are told to expect an increase soon.

Richcraft's The Charlotte - Launch Update

Richcraft has provided a soft update for when to expect the launch of their next project, The Charlotte, which will be located in Sandy Hill at 560 Rideau Street. They don’t have an exact date yet, however expect the project to launch later this fall. The building (currently as per plans) consists of 212 units inside the 14 stories, with pricing advertised to start from the mid $200’s. Richcraft says it will be “Stylishly crafted with a modern outlook and cutting edge amenities and finishes, The Charlotte will be Ottawa’s premier condominium residence.”

Echo Canal - Uniform Developments - Launching June 22

**For more information about ECHO Canal by Uniform, visit the ECHO Canal page here**

Uniform Developments has quietly announced the launch for it’s highly anticipated boutique building called ECHO. Uniform will be accepting only 27 appointments on a first-come, first-served basis, which will begin on Saturday June 22nd, 2019 at the sales center.

ECHO will be located at 115 Echo Drive, with 32 units over 6 stories. Launch pricing ranges from $846,000 up to $2.968M with units ranging from 920sqft up to 2,461sqft. The units will feature high end finishes with custom kitchens featuring custom millwork, Miele kitchen appliances, large format gas fireplaces with stone mantels, etc. The building is mostly made up of two bedroom units, with only one 1 bedroom. (one 1bed +den, two 2bed, 26 2bed +den, three 2bed +den penthouses).

For more information about ECHO, including floorplans, pricing, or questions about pre-construction condominiums in Ottawa, fill out the form at the bottom of the page.

The Bowery - Sales Update

“O7” Floorplan at The Bowery

The Bowery has only 20 units remaining including four model suites, that are available for purchase. There are 246 suites (250 if you include the two guests suites, sales office, and the superintendents unit) in the building in total. Pricing beings at $276,000 for the S5 model, a 493sqft studio. The largest unit that is currently available is the F4 model which is a one bedroom plus flex, 686sqft, for $381,000. All units include four European stainless steel appliances, washer and dryer in-unit, quartz counters, and hardwood flooring throughout the unit - all standard.

**For more information about the Bowery, visit our Bowery page located HERE.**

For more information about new condos located in downtown Ottawa, or for help to decide which unit is the best fit for you, fill out the form at the bottom of the page!

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Claridge Royale - Launch Postponed

Claridge had originally announced a public launch date for its latest building, Claridge Royale, of Saturday June 15th. Claridge has now announced that they have postponed the launch until this fall.

**For more information about Claridge Royale, visit the Claridge Royale page here.**

Ottawa Condo Market Statistics - May 2019

Every month we take a closer look and brake down the sales data of downtown condos from the previous month. Here are the statistics for May and the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Centretown has been a very hot month for condo sales. Over last month (April 2019) we saw the average sold price has increased, along with the number of sold units, the days on market has dropped in almost half, plus the list to sell price has tightened up, all signalling that demand for Centretown has increased, while the supply (up until this month) had not. However we have seen the supply (new listings) increase from 58 in April 2019, to 79 in May 2019. While that is not a significant number, it should certainly help buyers who are trying to get into the area. Overall it is still a very strong sellers market.

Over last month (April 2019), Byward Market and Sandy Hill, continues to improve slightly, with over $22k average selling price increase, and an extra 1.2% list to sold price (99.5% vs 98.3% in April 2019). Number of units sold, number of new listings, and days on market improves only slightly. Overall, this shows the improvement over last year. The Byward Market and Sandy Hill are still a balanced market or slightly leaning towards a sellers market.

Little Italy is still a difficult area to breakdown with such few sold units - take these numbers even more with a grain of salt. While there was very little change over last month (okay, yes average sold price increased by 18k) the one exception was the days on market jumped to 60, which was more in line with what we were seeing in 2018. We are still seeing fewer listings on the market, which is helping to keep the list to sold price at a very tight 99%. With such little supply in Little Italy, the hot properties will sell quick and for a very strong price.

Same as Little Italy, these Hintonburg condo stats need to be taken with a grain of salt due to the low volume of sold units. We are starting to see the days on market rise, along with the amount of new listings to match what we saw last year at this time. However in perspective to other neighbourhoods in Ottawa, the days on market is still quite low, and with a higher list to sold price it is still clear that it is a sellers market in Hintonburg. If we saw more supply hitting the market, then we might see things balancing out in more favour for a buyer.

The Westboro condo market has continued to improve with only four new condos adding to the supply. The days on market is the lowest in the city, with the highest list to sold price (tied with Byward Market and Sandy Hill). This is certainly a sellers market and we will need a large number of new listings to help balance it out.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Claridge Royale - Launch Date Announced

Claridge has announced the date for Claridge Royale, the second of the three developments that the builder is set to launch this year. The public launch will happen at 11 am on Saturday June 15th, at at the Claridge Royale Sales Office (244 Rideau Street). Claridge Royale will be located at 245 Rideau Street, where the Metro is currently located.

Claridge Royale is set for occupancy in 2023 with a total of 250 units.

For more information about Claridge Royale, visit the Claridge Royale page here.

Claridge Moon - VIP Launch Update

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Yesterday, Claridge held its first launch for it’s newest building, Claridge Moon. The turn out was very good with a constant line around the building. Unconfirmed number of units that have been reserved is 54 units or just over 20% of the building already reserved, after the first inital launch. The public launch begins tomorrow at 12pm at the sales centre, and we are expecting prices to rise slightly.

In terms of pricing, the building average is $648sqft with lowest being $575sqft up to $900sqft. If you don’t include the penthouse units (floors 26 and 27) the largest unit is 910sqft, and the smallest being 465sqft. Putting the average size of the building at 667sqft (not including the PH’s). Lowest priced unit is the $300,000 Titan floor plan, which is 510sqft. Previous to that was the Telesto floor plan (which is now reserved) of 465sqft for $272,000. Note that all units including a storage locker at no extra charge.

The penthouse units, which are located on floors 26 and 27, range in price from $448,000 and $464,000 (Vesta floor plan 640sqft), to $946,000 (Moonlight floor plan 1160sqft), and up to $1,635,000 (the Pandora floor plan 1890sqft).

There is no question that the excitement for this project is high - proximity to the LRT, and a Sobey’s in the ground floor podium.

Few more details:

- Condo fee’s are approximately $0.62/sqft
- Parking is $45,000 per spot ($77.74/month condo fee)
- Occupancy of September 1st 2023
- 25% Total Deposit ($20k to reserve, 10% (less the 20K) at signing, 5% 30 days from signing, 5% at excavation, 5% at interim occupancy)

Questions about pre-construction condos in Ottawa? Trying to decide on the best project for your goals? Let’s chat. Fill out the form below!

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Ottawa Condo Market Statistics - April 2019

Every month we take a closer look and brake down the sales data of downtown condos from the previous month. Here are the statistics for April 2019 and the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Claridge Moon - Launch Date Confirmed!

Claridge has announced a new launch date for its latest project located at 383 Albert Street, at the corner of Albert and Lyon. Claridge Moon is set to launch on May 9th 2019 at 4pm for VIP or May 11th for the public. More information will be provided as we get closer.

Claridge Moon is set to be completed late 2022, comprising of a total of 259 units, with unit sizes range from 510 to 1225 square feet. This is also set to be the first and only residential property to be directly connected to a station on the LRT system.

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Claridge Icon - Sales Update

* For more information about Claridge Icon, visit our Claridge Icon page, with all of the renderings, floorplans, detailed information, etc. CLICK HERE.**

Claridge Icon is selling with the building currently over 55% sold out. Only 150 units are available, ranging from $336,000 (610sqft Gable Floor plan on the 8th floor) up to $1.45M (1630sqft New Jacobson on the 43rd floor). There are a good selection of both one bedroom condos and up to larger two bedroom plus den units. Keep in mind that storage lockers are included in the price!

The 45 floor building is on track for an October 2020 occupancy. Claridge is asking 15% deposit to secure a unit, with parking available for $40,000 per spot.

Claridge Moon - New Launch Date?

We last reported (March 13th) that Claridge Moon was set to launch on March 30th. We are now told that Claridge is getting set to launch the latest project “within the next month”, with rumours of the same thing roughly mid to late May. Pricing is still not set, however the Claridge sales agent explained that they will be roughly on par with pricing at Claridge Icon which is starting at $539/sqft, with a building average of approximately $616/sqft.

There is a lot of interest in Claridge Moon for its location and pricing - from both an owner and investor point of view. If you want to stay up to date, and interested in purchasing a pre-construction condo in Ottawa, let’s chat. Fill out the form at the bottom of the page.

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Ottawa Condo Market Statistics - March 2019

Every month we take a closer look and brake down the sales data of downtown condos from the previous month. Here are the statistics for March 2019 and the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

The Slater - Only Three Units Left

The Slater, which was built by Broccolini and is located at 199 Slater Street, has only three units left that are available for sale. The building is sitting above the Alt Hotel and has a total of 178 units over 22 floors. Units range from 703sqft (plus a 51sqft balcony) for Unit 1901, up to 1,592 sqft (plus a 253 sqft balcony) for Penthouse 3.

The building is gaining a lot of attention for its finishing quality, superb location, and sleek amenities.

For more information about The Slater, or available condos located in downtown Ottawa, fill out the form below.

Click Here To Request More Information

The Slater - Only three units left.

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Breaking News - Federal Budget + First Time Buyers

The Federal Government has announced the budget which includes a number of incentives targeted at housing affordability and helping first time buyers.

The budget includes two main changes, with a number of details still unclear.

The first incentive is the amount that an eligible first time buyer would be able to withdraw from their registered retirement savings plan (RRSP). The Home Buyers’ Plan will allow $35,000 (was previously $25,000) to be withdrew from the RRSP without having to pay tax on the withdrawal.

The second incentive is the introduction if the First-Time Home Buyer Incentive which would allow eligible buyers to finance part of their downpayment through a shared-equity mortgage with CMHC. This would be for eligible first time buyers that are making a downpayment of less than 20 per cent. CMHC would offer 10 per cent shared equity mortgage for new construction homes and condos, or 5 per cent for existing (re-sale) homes and condos. It is expected to start in September and last for three years minimum.

There are lot of details that are still unclear (shared equity? what about losses when properties sell? first time buyers - its not that simple! how much will they make when a buyer sells? etc.).

Any questions on how it could affect you or an upcoming purchase? Fill out the form on the bottom of the page and let’s chat.

Bowery - Sales Promotion

Richcraft has announced a sales promotion to push the remaining units at The Bowery. The “Closeout Sale” offers a discount on all units, plus a free storage locker during the month of March. Specifically, units up to and including 6th floor will be discounted by $6,000. All units 7th floor & up will be discounted by $5,000. There are still great units available across most price points and sizes.

Located at 255 Bay Street, The Bowery Condos + Lofts is 18 stories with 248 units ranging in size from 493sqft (S5 floorplan for $262,000) up to 781 sqft (T1 floorplan for $452,000) . Amazing rooftop amenities that are worth making the project a must-view.

** For more information about Bowery Condos + Lofts, visit our Bowery page HERE, where you can find floorplans, pricelists, renderings, photos, news clippings, and other information. **

Claridge Moon - Launch Date

Claridge has quietly announced the launch date for its next condo project. Claridge Moon, a 27-storey condo tower that is located above the Lyon LRT station, will launch on March 30th, 2019. There is no pricing yet, however the project will consist of 259 condo units ranging from 510sqft to 1,225sqft.

“The ability to incorporate the LRT in the Claridge Moon development is so unique — it is impossible to place a value on it for the future residents. Imagine being able to access the ByWard Market, Westboro or the University of Ottawa in just a matter of minutes without the inconvenience of traffic through the core.” says Neil Malhotra (Claridge vice-president) to the Ottawa Citizen.

**For more information about Claridge Moon, visit our Claridge Moon project page HERE. All information about the project will be located here, including floorplans, renderings, construction update, news articles, pricing, etc. **

Ottawa Condo Market Statistics - February 2019

As we do every month, we have taken a closer look and broken down the sales data for the month of February 2019 for the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 10-14 days.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision? Let’s chat! Fill out the form on the bottom of the page.