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Real Estate Blog

December 2016 Ottawa real estate sales increased by 1.7 percent from December 2015, with a total of 715 residential properties sold. Of those sales, 550 of them were residential, and 165 of them were condominiums.

According to the president of the Ottawa Real Estate Board (OREB) Rick Eisert, “The listing inventory for both residential and condos trended lower all year, however units sold trended higher most months, outpacing 2015 by a fair margin. Cumulative days on market increased to 123 days in December, while the average for the year stayed steady at 91 days. Average residential sale prices remained virtually unchanged over last year, however we are seeing an increase in December compared to 2015, which could be a result of a higher concentration

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There are many up and coming neighbourhoods in Ottawa, as well as beautifully developed ones and ones that still have a lot of potential. But of course, one of the best areas of all is Parliament Hill. If you look directly across the street from the Parliament Buildings you will see the old U.S. embassy, a prime piece of real estate that has sat empty for 20 years.  

The embassy’s construction began in 1931. At the time, Canada’s foreign policy was still run out of the United Kingdom, but change was underway. The building symbolized Canada’s independence and the importance of the Canadian- U.S. relationship.

Because it’s sat empty for so long, the buildings value is difficult to determine, however other buildings in the area, such as the Lord Elgin

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November 2016 Ottawa real estate sales increased by 0.9 percent from November 2015, with a total of 995 residential properties sold. Of those sales, 765 of them were residential, and 230 of them were condominiums.

According to the president of the Ottawa Real Estate Board (OREB) Rick Eisert, “Year-to-date unit sales to the end of November have now surpassed all previous year-end totals. This year has been an exceptional year for sales for Ottawa Real Estate Board Members, and the year isn’t even over yet. The cumulative days on market have shown a steady decline for the first six months of the year, then has shown the same steady increase, so that the cumulative days on market in November (105 days) essentially mirrored that of January (110 days).”

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