December 2024 Newsletter
December was a busy and exciting month for the team! Despite the holidays, the team was incredibly busy securing homes for their clients. This month’s newsletter will dive into our predictions for 2025 and the state of the market thus far.
Vineet’s Predictions for the New Year
This winter has defied expectations, with December and January remaining unusually active as buyers rush to beat anticipated spring price hikes. Vineet Kauden predicts Ottawa's real estate market will see home values rise 5-10% this spring, led by detached homes and townhouses. While interest rate cuts and stable economic growth fuel market demand, the impact of Trudeau's resignation and currency fluctuations adds uncertainty. Buyers should act now to take advantage of favourable conditions.
Team on Vacation
A good number of our team members left the country (or at least the city) over the holidays to enjoy skiing, warm beaches, and time with friends and family.
Team Christmas Party and Secret Santa
The team had a festive holiday season with our team Christmas party, the Re/Max Hallmark Christmas party, and some other holiday festivities!
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:
Closing Out 2024: Ottawa Real Estate Market Trends
As 2024 wraps up, Ottawa’s real estate market showcases steady growth, with residential sales up 11.8% year-to-date. Increased inventory is offering more options for buyers while maintaining steady demand. From single-family homes to condos, every segment tells a unique story of growth, stability, or opportunity.
Get the full breakdown of market highlights, trends driving activity, and what to expect in 2025.
How Your Home Shapes Your Goals: Starting 2025 with Intention
Your home isn’t just where you live—it’s the foundation for your dreams. As 2025 begins, consider how your living space can support your goals. Whether it’s creating a home gym, refreshing your space for better focus, or exploring a move, small changes can make a big impact.
Dive into how your home can align with your aspirations for wellness, productivity, and financial growth in the year ahead.
Home Inspection: What to Expect and Why It Matters
A home inspection is a crucial step in the buying process, helping Ottawa home buyers uncover hidden issues, negotiate repairs, and plan for the future. Whether it’s a single-family home or a downtown condo, inspections provide peace of mind and confidence in your investment.
Learn what to expect during a home inspection, why it’s essential—even for condos—and how specialized inspections can help protect your purchase.
Discover the hidden world of off-market real estate with Knokd! Did you know that 1 in 3 properties are shared off the public market as "Coming Soon" or "Exclusive"? Gain access to this exclusive inventory and elevate your home search or listing strategy today!
Knokd offers personalized approaches tailored to your needs, providing targeted and discreet exposure for listings before they hit the open market. Say goodbye to one-size-fits-all listings and hello to a customized real estate experience.
Ourboro
At New Purveyors, we're excited to introduce Ourboro's co-investment partnership—a game-changing solution to expedite your path to homeownership. By co-investing with Ourboro, you can secure a 20% down payment without additional debt, gaining access to expert guidance and a competitive edge in the market. Contact us to learn more and unlock your dream home sooner!
Neighbourhood Monthly Statistics
Ottawa’s real estate market ended 2024 on a positive note, with 613 homes sold in December, up 7.9% from last year, and a year-to-date total of 13,526 sales, reflecting an 11.8% increase from 2023. The MLS® Home Price Index benchmark price rose to $645,800, with single-family homes at $729,300 (+3.7%) and townhomes seeing the largest gains at $533,200 (+11.3%).
Active listings surged 58.7% year-over-year, reaching 3,216 units, while new listings grew 13.6%. With 5.2 months of inventory, supply is improving, but affordability and availability remain key challenges. Optimism is growing for 2025, driven by falling interest rates and higher insured mortgage limits, setting the stage for increased activity in the months ahead.
To learn more, check out our full blog post HERE
Pet of the Month
Meet Duke! Duke is one year old and is a friend of the team’s. Duke’s fun fact is that he absolutely obsessed with licking ears.
Send us your pets for the chance to be featured next month!
