St Charles Market - Sales Update

**For more information about St Charles Market, visit our St Charles Market condo page here. Includes everything about St Charles Market in one place, floorplans, renderings, etc.**

Modbox Developments has come a long way with its stunning Beechwood project, St Charles Market. They are down to their last remaining unit (out of the 38 units and four penthouses) a gorgeous penthouse that is listed at $4,550,000. Penthouse #3 is a four-bedroom three-bathroom, custom-designed with 270-degree views, 3,923sqft of indoor space, and 426sqft of outdoor space. The unit includes two parking spaces and a storage locker.

https://stcharlesmarket.ca/

For more information visit the St Charles Market condo page here, or fill out the form at the bottom of the page. Questions about pre-construction condos in Ottawa? Let’s chat.

Ottawa Condo Market Statistics - June 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for June ‘21 in the top five "downtown" areas - 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 important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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If you are currently a buyer or seller in the Ottawa condo market (not intending to solicit if currently signed), I am willing to bet that you are pretty frustrated. Some units are selling for $100-200,000 over the asking price while others are sitting - 30+ days on market with no offers. It can certainly be difficult to navigate this market, especially without any guidance.

For Buyers: Hands down, understanding the market value of properties will give you a massive upper hand. The first tip we often give is to view more properties. The more properties that you see firsthand, the better understanding of where the market is and the value of comparable properties. Over time, you are able to walk in and tell where a unit should be priced. And while it can still be difficult in this market to predict sold price, having a solid market foundation is the best place to start. Working with an agent who has this market knowledge will give you a massive advantage, especially when they sell regularly in the building and area.

For Sellers: Working with an agent that understands the pulse of the market and can help you navigate your options along with ways to meet your goals. Not every seller’s goals are the same, not every building is the same, and then add in a multitude of other variables (unit finishes, occupants, views, neighbouring buildings, etc) and you have a ton of different options to navigate selling. Pricing below market and holding offers to a set time and date - is not everyone’s cup of tea. The best thing to do is have a discussion with an expert, someone who knows your building and knows the market.

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

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.

Kensington Lofts Hintonburg - Sneak Peek

**For more information about Kensington Lofts Hintonburg visit our Kensington Lofts Hintonburg page which Includes everything about Kensington Lofts in one place, floorplans, renderings, pricing, etc.**

We are getting close to launch, and Orange Design Build is doing an amazing job finishing up some of these units at Kensington Lofts Hintonburg. Take a look at some of the sneak peek photos to give you an idea of what is coming.

Kensington Lofts Hintonburg will consist of 26 premium lofts - a mix of one-bedroom, two-bedroom, and private entrance loft units. Units will feature 10’ ceilings and interior design from KODA Interiors. The most significant thing to note is that these units are already under construction and will be ready for immediate occupancy! Unlike traditional projects, this brand new building will be available for moving-in in 2021! Pricing will start from the mid-$300k’s and launch to the public in summer 2021.

Register now to be first in line. Fill out the form below.

CLICK HERE TO REGISTER

Kensington Lofts Hintonburg - Launching Summer 2021

**For more information about Kensington Lofts Hintonburg visit our Kensington Lofts Hintonburg page which Includes everything about Kensington Lofts in one place, floorplans, renderings, pricing, etc.**

The registration website is now ready for Orange Design Build’s latest development, Kensington Lofts Hintonburg. The project will be located at 99 Pinhey in Hintonburg, and consist of 26 premium lofts - a mix of one-bedroom, two-bedroom, and private entrance loft units. Units will feature 10’ ceilings and interior design from KODA Interiors. The most significant thing to note is that these units are already under construction and will be ready for immediate occupancy! Unlike traditional projects, this brand new building will be available for moving-in in 2021! Pricing will start from the mid-$300k’s and launch to the public in summer 2021.

Register now to be first in line. Fill out the form below.

For more information about Kensington Lofts Hintonburg - fill out the form below.

Ottawa Condo Market Statistics - May 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for May ‘21 in the top five "downtown" areas - 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 important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

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.

Matt Richling at Inman Connect Now - April 20th

Matt has been asked to co-host a networking session at Inman Connect Now on April 20th 2021. “Inman Connect Now is a series of fully digital events that bring together the real estate community to network, learn and grow. You'll collaborate with your peers, learn skills and strategies to boost your business, and plan for a year ahead that is likely to be anything but predictable. When you join us for Connect Now, it's because you want to stay ahead.”

Take a look at the agenda which is looking very solid: https://www.inman.com/event/connect-now/?section=agenda

Also if you are an agent and looking to join I have a couple discount codes:

3 Connect Now events pass:
CODE: AMBAPRMAYJUN
Link:https://www.inman.com/tickets/connect-now-3-event-bundle/... ($129)

Single day April 20 pass:
CODE: AMBAPR
Link: https://www.inman.com/tickets/connect-now-april-2021/... ($49)

Ottawa Condo Market Statistics - March 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for March 2021 in the top five "downtown" areas - 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 important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

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.

James House - Urban Capital - Taking Reservations This Saturday

**For more information about James House, visit our James House by Urban Capital page which Includes everything about James House in one place, floorplans, renderings, pricing, etc.**

Everyone is very excited for this news to finally break - James House is coming! We will have floorplans, pricing, and the ability to submit worksheets (on a first-come basis) starting this Saturday the 20th. If you have any interest in the project, please fill out the form below and we will be in contact with the information Saturday morning (or earlier).

Please note - we are a Platinum VIP agent with Urban Capital and have first access to this project. If you are interested in the project or securing a unit please fill out the form below. There are numerous agents with fake websites claiming to have early access - and do not have the ability to reserve units.

James House - Urban Capital - Signage Up + Launch Update

**For more information about James House, visit our James House by Urban Capital page which Includes everything about James House in one place, floorplans, renderings, pricing, etc.**

Urban Capital is getting putting the finishing touches on the sales center and getting ready to launch the HIGHLY anticipated James House project. Located at 390 Bank street, the corner of Bank Street and James Street in Centretown, James House will be comprised of 128 units over nine floors and set for occupancy in 2023.

Note: We are going to have early access to the project and we will be able to secure units on a first-come basis before the public. If you are interested in securing a unit, fill out the form below.

Ottawa Condo Market Statistics - January 2021

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for January 2021 in the top five "downtown" areas - 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 important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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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.

Matt Richling Chosen As 2021 Inman Brand Ambassador

Growing up in real estate you idolize certain peers and organizations for the work they do. Inman News and the Inman ambassador teams are perpetually at the top of my list. Year after year, they are made up of a highly respected group of global leaders in the real estate space. This is an incredible honour to be chosen amongst my peers, especially in this massive industry. Add to it that I am a kid from Canada. I am humbled and proud to be an Inman Ambassador. - Matt

Here is a link to the press release: https://www.inman.com/2021/01/19/inman-announces-the-inman-brand-ambassadors-of-2021/

“Inman Ambassadors have played a huge role beyond Inman events to nurture and support our industry. We’re bringing a greater cross-section of our industry’s brightest in real estate sales, tech and data, marketing, training and coaching, and abroad from Canada and Australia. They have been invited to the program based on their knowledge, high standards of experience in the industry, their elite networks, passion for giving back and building relationships.” — Laura Monroe, Inman’s global head of community

Ottawa Condos Located Near Breweries 2021 Edition

Over the past couple of years, amazing breweries have been popping up all over Ottawa. They have now become the hot spot for happy hours, places to relax on the weekends, or a go-to end of week stop to pick up a new or limited brew that’s being offered.  We are often asked which breweries are nearby when showing buyers. Hopefully, this list helps provide some clarity to the breweries that are located in our top five downtown Ottawa areas! Are we missing any?

Byward Market / Lowertown

Lowertown Brewery
Waller St. Brewing

Click this link to open in Google Maps (on mobile) or fullscreen (desktop)

Centretown

3 Brewers Sparks
Elgin Beer Project
Flora Hall Brewing

Little Italy

Vimy Brewing Company
Beyond the Pale Brewing Company
Mill St Brew Pub
Spark Beer

Click this link to open in Google Maps (on mobile) or fullscreen (desktop)

Hintonburg

Tooth and Nail Brewing Company

Click this link to open in Google Maps (on mobile) or fullscreen (desktop)

Glebe

CRAFT Market Ottawa

Click this link to open in Google Maps (on mobile) or fullscreen (desktop)

Ottawa Condo Market Statistics - November 2020

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for November 2020 in the top five "downtown" areas - 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 important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Well the crazy year that is 2020, is certainly keeping up with its craziness. The good news is that buyers are getting a prime opportunity to buy right now before things pick back up in the spring. Our number of new listings continues to be high, but not as crazy as last month. While our number of new listings are still double (Centretown) or even triple (Byward Market/Sandy Hill) what they were this time last year, they are trending downward from last month. Which is certainly good for sellers. Keep in mind we also need the number of sold properties to continue or to grow, which it isn’t - mostly staying similar to last year (Aside from Westboro - but I will get into that below). We are already seeing the days on market, and list to sold price, both relax in most areas. Which is mainly a by-product of increased supply.

Let’s play a quick game…

OTTAWA CONDO MARKET FACT CHECKER

TRUE OR FALSE? Ottawa condo dwellers are selling and moving to the country! They are selling their overpriced shoeboxes and moving to the rural farmland - buying chickens and preparing for the COVID apocalypse. They woke up one morning and realized they couldn’t survive downtown being in walking distance to everything and needed to move further so they had a lawn (to mow and weed - FUUNNNNN!), extra rooms to do zoom meetings, and even rooms to store avocados for their toast.

FALSE - I have seen a dozen articles in the past month focused on the Ottawa condo market that come to the conclusion that “Millenials moving out of the downtown to have land”. This is based on a guess from senior-level members of the Ottawa Real Estate Board when they broke down the monthly statistics - which caused a small avalanche of reporters to run with the headline. While our team certainly can’t speak to all of those that sold their condo since March 12th, I can guarantee that this is the furthest thing from the truth. Condo living is about lifestyle. This lifestyle seems foreign to non-condo dwellers. While a very small segment of sellers have made this move, the majority of sellers have either moved to another large city/back home, sold their investment property, or have moved into a larger condo to suit their growing needs. Keep in mind, if everyone is selling to move out of the city, then why are people still buying? This narrative is also growing tiring as we get closer to a vaccine.

I am going to do a follow up to the Ottawa Condo Market Fact-Checking where I will go further in-depth to debunk these lies that we are hearing.

WESTBORO aka ” The Unicorn?”
Looking at the stats, it is clear that Westboro is trending in a different direction than the rest of the city. The largest reason is because of the demand for more space by Ottawa condo dwellers. We have seen a huge increase in sellers moving into larger spaces (not for pet chickens), and Westboro is tailored to larger, more expensive, owner-occupied units. A condo building located in Westboro (or an area further from the downtown core) has fewer studio units and an increased number of larger two bedrooms.

Buyers
If you are thinking of buying in the next six months, keep in mind you might have the perfect storm to acquire prices before the spring rush hits. Many of our buyers decided to hold off this fall after hearing about a possible “second wave” which Ottawa has been able so far somewhat avoid. Over the next two to three months, you will have the ability to buy a condo without being in multiple offers which will most likely disappear when the spring market hits. Plus as a buyer, you have more options now, with less pressure. C’est parfait!

Sellers
The headlines make it sound like our condo market is collapsing - which is not true. Most of our neighbourhoods are on par with the number of sold units that we saw last year. If you need to sell now, price correctly, do what you can to show the full potential of the condo, and listen to the market. If you are able to wait, then do it. We are getting to the time of year that holding off listing until early in the new year is part of every listing appointment conversation.

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

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.

Stone Abbey Luxury Condominiums by Windmill - Now Available

** For more information about the Stone Abbey Luxury Condominiums, visit The Stone Abbey page HERE, which has everything about the development in one place. This includes the floorplans, pricing, renderings, sales updates, etc. **

Reservations are now being taken for Stone Abbey, Windmill Developments latest Ottawa project. A very limited development with only 18 units, split over six floors, located at the old site of the Southminster United Church at Bank street and the Rideau Canal.

Prices start from $657,000 for unit 103 which is 730sqft plus 45sqft exterior, and range up to $3,979,000 for the 6th floor 3,655sqft plus 195 and 850sqft exteriors. There are only five of the 18 units that are priced below 1.1M.

Condo fees are $0.58/sqft and include Common area expenses; water, natural gas, heating & air conditioning (geothermal); snow removal; landscaping maintenance, exterior window cleaning (2 times/year); waste & recycling removal; reserve fund contribution. Fees do not include: parking and storage unit maintenance fees; individual unit electricity (submetered); telephone; cable or internet.

Parking is $55,000 for a standard stall or $45,000 for a “stacker stall”. Electric Charging Rough-In’s and Charging Units are available as an upgrade. **Standard Parking Stalls may be purchased by the following units: 102; 104; 202; 204; 302; 304; 401; 501; 502; 503. **Stacker Parking Stalls may be purchased by the following units: 101; 103; 201; 203; 301; 303; 402.

Storage Lockers are available at $5,000 per locker, however, only one locker is available per unit. Lockers are accessed from the underground parking level.

Windmill is looking for a 15% deposit split as follows: 5% at signing, 5% in 30 days, 5% due 5 days after construction.

For more information about this project or other pre-construction projects in Ottawa, please call 613-286-9501, email matt@mattrichling.com, or fill out the form below.

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The Charlotte - Construction Update and Special Promotion

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**For more information about The Charlotte visit The Charlotte page HERE, which has everything about the building in one place. This includes the floor plans, pricing, renderings, sales updates, etc. **

The Charlotte, which is being built by Richcraft Homes at 560 Rideau Street, is currently moving ahead with construction. The building which originally launched a year ago, is already moving forward and is set for a completion date of mid 2022. Richcraft is currently running a 50% off parking promotion, or a $20,000 cash discount on all two-bedroom suites.

Located in Sandy Hill, the building will consist of 197 units over 14 floors. Prices originally started at $285,000.

For more information about The Charlotte condos, or other pre-construction condos in Ottawa, please call or email 613-286-9501 or Matt@MattRichling.com.

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James House - Urban Capital - Sales Center Under Construction

**For more information about James House, visit our James House by Urban Capital page which Includes everything about James House in one place, floorplans, renderings, pricing, etc.**

James House, the next project from Urban Capital which was supposed to be launched this fall has now been pushed to the spring. The sales center is under construction, with the interior currently being demolished. They have also painted the exterior black! (Yes, the small things excite us!)

Located at 390 Bank street at the corner of Bank and James Street, the building will be composed of approximately 130 units over nine floors.

For more information on the project (floorplans, pricing, renderings, etc.) and to stay up to date on any launch information, please CLICK HERE.

Ottawa Condo Market Statistics - October 2020

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for October 2020 in the top five "downtown" areas - 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 important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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If you look at these stats side by side for the last two months it is pretty interesting. Click Here to view last months. Take Centretown - 91 New listings this month, 106 last month. Of those, only 39 sold this month, and 55 sold last month. Last year it was 38 and 38 listed vs 33 and 34 sold. We have a large number of listings hitting the market and the sales are not following. Supply and demand is what dictates price. The average list to sold price is starting to level out - compared to two months ago when every single area was averaging above 100%. This is great news for buyers who are looking to get into the market. Typically this is the fall rush before the snow hits the ground. Keep in mind that this is focused on condos and our busy time of the year goes later - into mid-December. Then again - everything is thrown out of the window this year with COVID.

If you are a seller looking to maximize your return, then waiting to spring would be the best. Even better if there’s a COVID vaccine that is adopted and the world starts returning to normal. I believe that alone will help push the market even further than we have seen it in the past. If you can’t wait, then don’t panic. The numbers are still in your favor. Units that show well and are priced properly are selling hot and fast.

If you are a buyer, the next four months will be a sweet spot for you. Take advantage of what we are seeing - before it goes insane in the spring. Keep in mind there is often a mini rush early/mid-January as buyers are sobered from the holidays and looking to move - yet the sellers are holding off until there is no snow. WE. SEE. THIS. ALMOST. EVERY. YEAR. …. (***Also for Sellers that are still reading)

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

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.

Ottawa Condo Market Statistics - September 2020

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for September 2020 in the top five "downtown" areas - 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 important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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If you are in the market (seller or buyer) there is not much more I can tell you that you don’t already know. It’s hot out there - newspaper headlines included. However, over the last couple of weeks, we are starting to see things shift slightly. The Ottawa condo market has been in a seller’s market for the first nine months of 2020, is now starting to level out. This might be a knee jerk reaction to the possible second wave, or just a reaction to the number of new listings that have hit the market.

Buyers: If you are looking or thinking of looking, this might be a great time to get a good deal. One without multiple offers - giving you a chance to do an inspection, etc. Offering under list price vs bidding over list price against ten other buyers. More listings mean there are more choices! As well, knowing what is going on in the market, and even in the building helps to give you the leg up when it comes time to decide about making an offer.

Sellers: A shifting condo market always has winners and losers. If you are not paying attention to what we are seeing day-to-day, then you will be sitting and waiting. We are seeing more agents holding offer dates (no offers before a certain date), and then not receiving any offers on that date. This is a basic mistake from looking at headlines vs being in the market and paying attention to what is going on in the street. While this might come off as doom and gloom, it just means that we need to adapt our marketing strategies to get the highest dollar possible.

Want to chat about your options? Fill out the form at the bottom of the page, or txt/call me directly 613-286-9501.

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 Spencer by EQ Homes VIP LAUNCH TOMORROW!

**For more information about The Spencer, visit our The Spencer by EQ Homes page here. Includes everything about The Spencer in one place, floorplans, renderings, pricing, etc.**

EQ Homes is launching their next project which will be located at Greystone Village in the heart of Old Ottawa East. The Spencer will be a nine-floor building consisting of 85 units that range from 316sqft up to 1471sqft. Pricing starts at $282,900 and goes up to $1,700,900 for the large penthouse. Deposit is 15% ($5k at signing, 5% less deposit at 30 days, 5% at 90 days, 5% at 180 days). 

We are fans of EQ Homes and their product. This project will do well and a great choice for someone looking to be centrally located. Walkable to the Glebe and a short bike ride to the Byward Market, with the Rideau River in your backyard.

For more details, visit our THE SPENCER page, or contact us directly at info@mattrichling.com.

Please note - We are able to help reserve a unit this weekend before the building is launched to the public next weekend. These meetings are done virtually with the builder and need to be booked in advance and are filing up. If you are interested in doing so please let us know ASAP.

Ottawa Condo Market Statistics - August 2020

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for August 2020 in the top five "downtown" areas - 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 important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.

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Want to chat about your options? Fill out the form at the bottom of the page, or call me directly 613-286-9501.

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.