Month: December 2018

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Ottawa REALTORS® Donate $92,180 to Local Charities

Members of the Ottawa Real Estate Board (OREB) raised $92,180 for the Ontario REALTORS Care® Foundation this year and were able to provide grants to 25 shelter-related charities in the Ottawa-area.

Members of the Ottawa Real Estate Board (OREB) raised $92,180 for the Ontario REALTORS Care® Foundation this year and were able to provide grants to 25 shelter-related charities in the Ottawa-area. The funds were raised through the Board’s annual charity golf tournament, the “$2 per member per month” campaign, the RONA rebate program, as well as additional donations.

 “These yearly grants are just one of the ways REALTORS® demonstrate how much they care about their communities. Many of our Members are dedicating their time and energy behind the scenes to the charities closest to their hearts,” acknowledges 2019 OREB President, Dwight Delahunt.

These charities assist local residents who may not have adequate shelter along with those who may be dealing with homelessness, addiction, mental or physical illness, spousal or familial abuse, physical disability, poverty, or ageing. The work these organizations do is essential for our community.

“Our REALTORS Care® Committee met with representatives from Ancoura, Maison D’Amitie, Options Bytown, and the Ottawa Carleton Association for Persons with Developmental Disabilities. These people make a difference in our communities, and I appreciate the opportunity to thank them for everything they do each and every day,” states Deborah Burgoyne, 2018 REALTORS Care® Committee Chair and 2019 OREB President-Elect.

The 2018 Ottawa-area grant recipients are:

Ancoura
Bruce House
Carleton Place and District Youth Centre
The Door Youth Centre
Eastern Ottawa Resource Centre
Habitat for Humanity
Harvest House
Hospice Care Ottawa
Jericho Road Christian Ministries
Lanark Highlands Youth Centre
Maison d’Amitié
Nelson House
Options Bytown
Ottawa Carleton Association for Persons with Developmental Disabilities
Ottawa Carleton Lifeskills
Ottawa Mission
Ottawa Network for Education
Ottawa Rotary Home Foundation
Roger Nielson House
Serenity Renewal for Families
Shepherds of Good Hope
St. Mary’s Home
St. Matthew’s Harmony House
YMCA/YWCA Youth Housing Program
Youth Services Bureau

The Ontario REALTORS Care® Foundation is operated by the Ontario Real Estate Association (OREA) and provides grants to Ontario shelter-related charities. The REALTORS Care® Foundation is supported by Ontario Real Estate boards and associations and their REALTOR® Members. 

Ottawa Real Estate Board Announces New President for 2019

On December 6, 2018, Members of the Ottawa Real Estate Board (OREB) elected a new Board of Directors for the upcoming year. The new Board will be comprised of 2019 President Dwight Delahunt, Past President Ralph Shaw, President-Elect Deborah Burgoyne, and Vice President Dominique Milne. Joining them are Directors Ken Dekker, Mitch Gauzas, Paolo Farago, Tim Lee, Andrew Ouellette, Peter Sardelis, Anne Scharf, Penny Torontow, and Debra Wright.

OTTAWA – On December 6, 2018, Members of the Ottawa Real Estate Board (OREB) elected a new Board of Directors for the upcoming year. The Ottawa Real Estate Board is the city’s largest trade association with over 3,000 sales representatives and brokers in the Ottawa area.

 The new Board will be comprised of 2019 President Dwight Delahunt, Past President Ralph Shaw, President-Elect Deborah Burgoyne, and Vice President Dominique Milne. Joining them are Directors Ken Dekker, Mitch Gauzas, Paolo Farago, Tim Lee, Andrew Ouellette, Peter Sardelis, Anne Scharf, Penny Torontow, and Debra Wright.

“It’s an honour and a privilege to represent our 3,086 Members who work hard each and every day to fulfill the dreams and wishes of their home buyers, sellers and business owners,” states Dwight Delahunt. “Moreover, REALTORS® are very involved within the community and are giving back in record numbers to make Ottawa and its surrounding areas a better place to live,” he adds.

New President, Dwight Delahunt, has been a Member of the Ottawa Real Estate Board for over 30 years and has served on numerous task forces and committees since 1991, including the Professional Standards Committee, the Governance Committee, the Arbitration Committee and many others. Dwight was first elected to the Board of Directors in 2015 and has served as a Director for four years as well as Vice President in 2016 and President-Elect in 2017.

“We are concerned about the federal government’s broad-brush approach to correcting certain limited markets and believe real estate should be assessed at a regional level,” Delahunt maintains. “We will work hard with our counterparts at the Ontario Real Estate Association and the Canadian Real Estate Association to ensure this happens for the betterment of our local residents.”

“Having a place to call home is still an important goal for most people, including the next generation. Home ownership should not just be a dream – but a reality,” he concludes.

2019 Ottawa Real Estate Board President, Dwight Delahunt

Top row: Dominique Milne, Ken Dekker, Mitch Gauzas, Paolo Farago, Tim Lee
Middle row: Andrew Ouellette, Anne Scharf, Penny Torontow, Debra Wright
Bottom row: Deborah Burgoyne, Dwight Delahunt, Ralph Shaw
Not Present: Peter Sardelis

Ottawa: One of Canada’s Real Estate Anomalies

Members of the Ottawa Real Estate Board sold 1,165 residential properties in November through the Board’s Multiple Listing Service® System, compared with 1,232 in November 2017, a decrease of 5.4 per cent. The five-year average for November sales is 1,055. November’s sales included 870 in the residential property class, a decrease of 7.2 per cent from a year ago, and 295 in the condominium property class, an increase of just one unit or 0.3 per cent from November 2017.

Members of the Ottawa Real Estate Board sold 1,165 residential properties in November through the Board’s Multiple Listing Service® System, compared with 1,232 in November 2017, a decrease of 5.4 per cent. The five-year average for November sales is 1,055. November’s sales included 870 in the residential property class, a decrease of 7.2 per cent from a year ago, and 295 in the condominium property class, an increase of just one unit or 0.3 per cent from November 2017.

“Even though home sales are down this month compared to a year ago, this is simply a reflection of the lack of inventory that we have been experiencing all year. Unit sales would have been higher if only we had the selection and supply,” states Ralph Shaw, President of the Ottawa Real Estate Board. “Every REALTOR® I know has active buyers waiting for an opportunity, but many potential Sellers are in the same situation – and have no option but to stay put,” he adds.

The average sale price of a residential-class property sold in November in the Ottawa area was $429,039, an increase of 2.6 per cent over November 2017. The average sale price for a condominium-class property was $285,764, an increase of 11.1 per cent from this month last year.*

“Condominium sales continued to lead the way in November which included a higher average price percentage increase than single-family residential sales this month,” Shaw reports. “Robust sales over the last two years have stabilized the oversupply that previously existed in our condo market. Given that the rental market is as tight as it is, the condo market is not necessarily being driven by lifestyle choice but more often is purely about fulfilling accommodation needs.”

The $300,000 to $449,999 range remains the most active price point in the residential market, accounting for 47 per cent of home sales while the $500,000 to $750,000 price range continues to represent one in five of all residential home sales again this past month. Between $175,000 to $274,999 was November’s most prevalent price point in the condominium market, accounting for almost 47 per cent of the units sold.

“When you look at what’s happening in real estate markets across Canada, Ottawa’s market performance is the polar opposite,” Shaw declares. “Our market fundamentals are very strong, and we have experienced steady growth for many years, and indeed decades.”

“With our average home prices lower than the national average and our high employment levels, there is no doubt that Ottawa is one of our country’s most ideal locations to live, work, play, and raise your family,” Shaw concludes.

In addition to residential and condominium sales, OREB Members assisted clients with renting 2,553 properties since the beginning of the year down from 2,821 from this time last year.

* The Board cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.