- Kat's Daily Realty Newsletter
- Posts
- November to Remember in Ottawa Real Estate
November to Remember in Ottawa Real Estate
Second Bi-weekly November Release
Katherine Cabrera
November 17, 2024 • Estimated Reading Time: 12 minutes
Welcome one, welcome all!
Hello Beautiful People!
Guess what’s shaking up conversations (and maybe markets) north of the border? That’s right—Trump’s presidential comeback is the talk of the town, and even Canadians can’t help but wonder what it might mean for us. Could it send Americans fleeing north, causing a frenzy in our real estate market? Or will it create ripples in cross-border investments? Either way, it’s a hot topic you won’t want to miss.
But that’s just the beginning, Ottawa. This issue is packed with everything you need to stay ahead in Ottawa’s real estate scene—because staying informed is always in style.
This Issue’s Highlights:
Ottawa Market Snapshot: What’s Happening Now?
Lower rates, increased activity, and new housing developments—discover how Ottawa’s real estate market is building momentum this November.Kat’s Hot Take: Your Questions, My Answers
To buy or not to buy—that is the question! With interest rates falling and opportunities rising, the choice lies within weighing the pros and cons.Ottawa Spotlight: Local Business You’ll Love to Support
Featuring Kalynn Borland, a mortgage agent who delivers expertise to make your homeownership journey seamless and stress-free.Event Radar: What’s Shakin’ in Ottawa This Month
From free events to community fundraisers, here’s your ultimate guide to making the most of Ottawa this November.Realty and Beyond: Holiday Edition
Learn about the heartwarming origins of Ottawa’s Santa Claus Parade, a tradition that spreads holiday magic while bringing the community together.Get Social: Connect, Chat, and Collaborate with Kat!
Don’t be a stranger— come join the conversation and share your real estate insights.
Let’s dive in and uncover what Trump, trends, and November in Ottawa have in store for you.
Ottawa Market Snapshot: What’s Happening Now?
Ottawa’s real estate market is full of activity this November! The recent changes in the economy are creating new opportunities. Here’s what buyers and sellers need to know:
What’s Changing?
The Bank of Canada recently lowered its interest rate to 3.75%. This makes borrowing money cheaper, so buyers can afford larger mortgages. As a result, more people are jumping into the market, increasing activity and competition. Across Canada, home sales rose by 7.7% in October, and Ottawa is feeling the effect too!
The Numbers at a Glance
Average Home Price: $668,690 in October, a modest 1.2% increase from last year.
Single-Family Homes: Leading with a benchmark price of $724,500, up 0.7% year-over-year.
Townhomes: Showing strong growth, with prices reaching $506,900—an increase of 1.6% year-over-year.
Apartments: Experiencing a slight decline, now at $407,500, down 3.4% compared to last year.
More Homes on the Way
To meet the growing demand, the Canada Mortgage and Housing Corporation (CMHC) is working on building and repairing 656 homes in Ottawa. This will help create more housing options and potentially make buying a home more affordable.
How This Affects You
For Buyers: Lower interest rates mean it’s easier to get a mortgage, so now could be a good time to explore your options before competition heats up.
For Sellers: There’s more buyer interest, but competitive pricing is essential since buyers are careful about spending.
What’s Next?
Mark your calendars, folks! The Bank of Canada’s next rate announcement is December 11, 2024, with a full economic outlook coming on January 29, 2025.
References:
Ready to take the next step? Schedule a free consultation with me today!
Kat’s Hot Take: Your Questions, My Answers
Q1: With interest rates dropping, what are the pros and cons of buying versus renting?
Buying | Renting |
PROs | CONs | PROs | CONs |
|---|---|---|---|
Lower interest rates (3.75%) make monthly mortgage payments more affordable | Upfront costs such as downpayment, closing fees, and property taxes can be high | No major upfront costs—just your deposit and monthly rent | Rent doesn’t build equity; your money goes toward the landlord’s property |
You build equity instead of paying rent to a landlord | Committing to buying means staying in one place for at least 5 years to make it worthwhile | Flexibility to move if you’re unsure about settling in Ottawa long-term | Ottawa’s rental market remains competitive, with limited availability in some areas |
Increased inventory in Ottawa means more options to choose from | Allows you to save more for a stronger down payment later |
Q2: Should I keep renting since home prices are still high?
A: Renting might be the better option if you’re not ready to commit to one place or need more time to save for a down payment. While Ottawa home prices have stayed steady, more listings and the lower interest rates are creating opportunities for buyers. If renting helps you save and prepare for a future purchase, it’s a smart move for now. The key is to choose what fits your current situation and long-term goals!
Got a burning real estate question? I’d love to help!
Submit your questions to [email protected] and SUBSCRIBE!
Ottawa Spotlight: Local Business You’ll Love to support
This issue’s spotlight shines on a professional dedicated to making your homeownership journey seamless and stress-free—because finding the perfect mortgage deserves VIP treatment!
Kalynn Borland, Mortgage Agent
Featured Local Business: Kalynn Borland
As a mortgage agent, Kalynn’s mission is to secure the best mortgage product tailored to her client’s current and future needs. Unlike banks, which offer only its own products, Kalynn has access to options from all major banks and over 75 additional lenders. This means her clients benefit from the best rates, enhanced buying power, and unmatched flexibility—all at no cost to them, as her fees are covered by the lender. When it’s time to renew, Kalynn takes care of finding the most competitive option, saving clients both time and money.
With a background serving elite clients on private yachts and jets, Kalynn is well-versed in managing valuable assets with precision and care. She applies the same white-glove service and meticulous attention to detail to her work as a mortgage agent. She provides every client a seamless, stress-free experience from application to closing.
Looking for exceptional service to secure your dream home?
Contact Kalynn today: [email protected]
Want your business featured next?
Email [email protected] and SUBSCRIBE!
Event Radar: What’s Shakin’ in Ottawa This Month
Here’s what’s happening around town this November—mark your calendars and join the fun!
👨👩👧👦 Free Events
Barrhaven Santa Claus Parade 2024Join the magic of this beloved volunteer-run parade, where dazzling floats, spirited bands, and costumed characters light up the streets for over 30,000 delighted spectators. A holiday tradition not to be missed! NOTE: Parade ENDS at corner of Strandherd and the Park n’ Ride | 📅 November 17, 2024 (Sunday) ⏰ 5:30 PM 💰 FREE 📍 begins at Beatrice Drive and runs down Strandherd Drive |
Les lundis des tout-petitsBring your little ones to the National Arts Centre every Monday for an hour of magical French story time with Luana! Enjoy enchanting tales, crafts, and games. This free event is an excellent opportunity for bilingual and francophone families to immerse themselves in the joy of storytelling. | 📅 November 18, 2024 (EVERY Monday) ⏰ 10 to 11 AM 💰 FREE 📍 1 Elgin St (Peter A. Herrndorf Place) |
Money in 10 Questions: Kids EditionVisit the Bank of Canada Museum's interactive exhibition, open until January 12, 2025. Through ten engaging play-based activity stations, kids can explore their most curious questions about money while building a strong foundation for their financial future. It is the perfect experience of learning and fun for everyone! NOTE: Accessibility Braille guide containing all contents of exhibition is available for download: | ⏰ From 10 AM 💰 FREE 📍 30 Bank Street, corner of Bank and Wellington St. 📍 Virtual visits and online activities available |
✨ Support our Community
TwelvebyTwelve | In support of Interval House OttawaWall Space Gallery presents TwelvebyTwelve, a vibrant group exhibition featuring square-foot sized artworks by over 25 Canadian artists. Ticket and artwork sales will support Interval House Ottawa’s efforts to build a 10-unit transitional housing facility for survivors of gender-based violence. It’s your chance to collect stunning art while making a difference! | 📅 November 21 to December 23, 2024 💰 $10.00 Don’t miss the opening party on Thursday, November 21, from 5 to 8 pm—a night of art, food, and community spirit. |
🎉 Check-out Local Markets
Christmas Market SocialLet’s kick off the holiday season in style at the Christmas Market Social! Enjoy an enchanting evening browsing local vendors, sipping festive drinks from the Christmas bar, and mingling with friends to the festive sounds of holiday cheer. | 📅 November 22, 2024 (Friday) ⏰ 6 AM to 9 PM 📍 424 Parkdale Avenue Ottawa, ON K1Y 1H1 💰 $11.98 |
Message [email protected] and SUBSCRIBE!
Realty and Beyond: Holiday Edition
55th Help Santa Toy Parade, Ottawa: November 16, 2024
Did you know that Ottawa's Santa Claus Parade has deep roots in the city's community spirit?
Ottawa's beloved Santa Claus Parade, originally known as the Help Santa Toy Parade, first graced the city streets in 1969, courtesy of the Ottawa Professional Fire Fighters' Association. Their noble mission? To collect toys for children in need and sprinkle a little holiday magic where it was needed most.
What began as a humble effort has since grown into a cherished annual event, dazzling spectators with enchanting floats, lively marching bands, and Santa himself—the star of the show. For generations, this parade has marked the start of the holiday season for Ottawa, uniting neighbours and friends in a shared celebration of joy and generosity.
Intrigued by more surprising Realty Fun Facts?
SUBSCRIBE to our bi-weekly Kat’s Daily Realty Newsletter!
Stay in the loop with the latest listings, insider tips, and local real estate insights! Follow along, connect, and let’s make your real estate goals happen. Have questions? Send me a DM, book a free consultation, or simply stop by the links below:
🗓️ Book a FREE Consultation NOW! – Let’s talk about your goals and map out a plan
🌐 Visit My Website – Discover why clients choose to work with me
⭐ Leave a Google Review – Help others by sharing your experience
📷 Follow on Instagram – Get the latest market updates, listings, and local insights
👍 Connect on Facebook – See top Ottawa listings and helpful tips for buyers and sellers
📰 Subscribe to My Newsletter – Get real estate tips and local Ottawa happenings delivered to your inbox!
Success is a poor teacher. We learn the most about ourselves when we fail, so don’t be afraid of failing. Failing is part of the process of success.”
Can’t Wait for More? Stay Tuned!
We’ll be back in two weeks with fresh tips, market trends, and hidden gems. Get ready for another issue packed with all things Ottawa real estate! Looking forward to connecting with you!
Reply