January 2021 Real Estate Newsletter
Monday Jan 11th, 2021
2021 is finally here! This past year was a tough one for everyone with the pandemic and lockdowns. I am sure you will join me in saying I’m glad 2020 is over with. A new year and a fresh start to work on any goals or plans you might have. I know for me; healthy eating and regular exercise is first on my list. Hoping this year is better than the last and we can all return to normal sooner than later!
2021 Real Estate Market
According the RE/MAX Ottawa Housing Market Outlook, home prices in Ottawa are expected to rise approximately 7% this year. We are currently in a seller’s market and it looks like it will stay that way for the foreseeable future. Inventory is down, while demand remains high. Mortgage rates are at an all-time low right now with some lenders offering just over 1%. New builders such as Minto and Mattamy will release several new sites across town. Barrhaven, Kanata and Orleans are some of the most popular areas for new housing developers. With several people working from home during COVID, commute times are less concerning for many people, therefore pushing the home search further out. I would expect that communities like Kemptville and Carleton Place will see more growth this year than past years. It will certainly be interesting to see how the real estate market will turn out this year and the new sales patterns that will emerge.
This Month’s Neighbourhood Feature: Greely
Greely is a suburban-rural community located approximately 40 minutes south of downtown Ottawa. Greely is one of Ottawa’s fastest growing communities. The most popular style of home in this community are large luxury bungalows on estate lots. A new plaza located on Bank street offers a Foodland grocery store with an LCBO, a Dollarama, A&W, Pet Valu, Pharmasave, A Clinic, an animal hospital and more. Greely is surrounded by golf courses - Emerald Links Golf and Country Club, Rideau View Golf Club, Falcon Ridge Golf Club – to name a few. There is a Shoppers Drug Mart, Drummond’s gas station and a Tim Hortons on Mitch Owens Road and a delicious burger spot called Burgers and Shakes nearby. Several schools such as Castor Valley Elementary School, Greely Elementary School and St. Mary Elementary School. If you are thinking of moving a little further out from the suburbs, I would highly recommend checking it out!