October 2023 Newsletter
October was an amazing month for the team, with plenty of opportunities for personal and business growth, celebrations through the time of giving, and a wedding!
Team Vision Session
The team got together to discuss what working in real estate really means to them. Through this session, the agents were able to rediscover what motivates them most about this business.
John’s Pumpkin Patch Outing
John hosted a pumpkin patch outing for his clients, family, and friends!
Team Thanksgiving and Halloween Party
The team had a great time at our Thanksgiving potluck and Halloween party.
Bungee Jumping
After our vision session, Charlene and Lauren wanted to push themselves to try something that scared them, so they signed up for bungee jumping! Some of the team tagged along to cheer them on!
Karlie and Braiden’s Wedding
Our amazing admin, Karlie, got married at the end of October in a beautiful ceremony. The team came to celebrate her!
Real Estate News
Interested in hearing more from our agents about real estate? Let’s dive into some of our top blog posts this month:
The Ottawa Mover’s Manual
This article will guide you through a step-by-step process of moving in Ottawa. From 6 months prior to your closing/moving date, you’ll be guided through the process with a variety of resources to help you.
Navigating the Path to Homeownership with Charlene Weber
Being a first-time home buyer can be scary, but Charlene breaks down the steps to homeownership in this blog post to demystify the process.
Preparing Your Home for Winter in Ottawa
Winter in Ottawa is brutal - and preparing your home for the winter months can make a huge impact on both your comfort and your expenses. We dive into some of our top tips for touching up your weatherproofing and preparing for the season.
Neighbourhood Monthly Statistics
In September 2023, the Ottawa Real Estate Board (OREB) reported 946 homes sold via the MLS® System, unchanged from September 2022. Sales were 29.6% below the five-year average and 23.6% below the 10-year average for September. Year-to-date, home sales were 13% lower than the same period in 2022, totalling 9,889 units.
OREB President Ken Dekker noted steady sales compared to last year but below typical September levels due to a surge in new listings. While overall inventories are rising gradually, the supply remains historically low. The market is balanced, and MLS® Benchmark prices, though lower than last year, align with 2021 levels.
The MLS® Home Price Index (HPI) showed a marginal 0.5% increase in the overall benchmark price to $643,600 in September 2023. Single-family home and townhouse/row unit benchmarks remained steady, while the apartment benchmark declined slightly.
The average home price in September 2023 was $675,412, up 2.7% from 2022. The year-to-date average of $672,837 marked a 6.5% decline. Total home sales in September reached $638.9 million, a 2.7% increase from 2022.
New residential listings rose by 9.8% to 2,259 in September 2023. Active listings at the end of September totaled 2,997 units, a 14% increase from 2022 and a five-year high for September. Months of inventory were 3.2, up from 2.8 in 2022 but below the long-term average of 3.3 months.
To learn more, check out our full blog post HERE
Pet of the Month
Meet Maggie, also known as Lamb, a friend of New Purveyors. Lamb comes by our office on occasion with Cindy, the amazing dog walker, and we’re always blessed when it is a ‘lamb day.’
Send us your pets for the chance to be featured next month!
