Written by: Marcus Noel

Sales Representative / Investor

Happy New Year everyone! Cheers to 2023! We hope that you all had a wonderful holiday season surrounded by loved ones and were able to take some time to relax and recharge! After a successful 2022, we are excited to continue growing and evolving as a team in the coming year. We are ready to face any challenges and seize any opportunities that come our way! With almost 4 months of inventory, it’s great that we’re starting the year off with a balanced real estate market, which presents great opportunities for both buyers and sellers! If you, your family, or your friends are thinking of making a real estate move in the new year, we would love the opportunity to help!

The real estate market tends to be a bit quieter in December, and last year was no exception. In December, members of the Ottawa Real Estate Board (OREB) sold 601 residential properties through the Board’s MLS System, which represents a 30% decrease over 2021. There were 466 residential properties sold and 135 condominiums sold, which represents a 22% and 48% decrease over 2021 respectively. December has seen a consistent average of 775 units sold over the past five years, and while the market can be affected by various factors, this average gives us a glimpse into the typical level of activity during the holiday season.

In December, the average sale price for residential properties was $655,839, a 7% decrease from the previous year. Meanwhile, the average sale price for condominiums saw a 9% increase, reaching $434,973. The year-to-date average sale prices for residential properties and condominiums were $769,623 and $453,770, respectively. This represents a 7% increase for residential properties and an 8% increase for condominiums compared to 2021.

It’s time for our first giveaway of 2023! If you know me, I’m a huge hockey fan, and going to Ottawa Senators’ games is one of my favorite things to do! With our team doing increasingly better over the last couple of games (a bit of a rough start lol), we wanted to give you the chance to win a pair of tickets to see the Ottawa Senators fight it off against the Winnipeg Jets on January 21st at the Canadian Tire Center! The puck drops at 7:00pm! The winner will also receive free parking at the venue! We love our city, but what we love even more is our team!

To enter, simply head over to our Facebook Page, Noel Properties, like the giveaway post, tag 2 friends in the comments section, and be subscribed to our monthly newsletter! The contest starts today, Friday, January 6th, and will run until Friday, January 13th, at 12:00pm noon. That’s right! We’re giving you a chance to win something on the unluckiest day of the year! The winner will be announced on our Facebook Page on January 13th at 1:00pm and contacted directly. Best of luck to everyone who enters!

Thank you for reading!

Marcus Noel