If you are a home owner, what is selling in your local area is important to you. This article will give those of you interested in the Metcalfe-Osgoode-Vernon area a quick overview. Metcalfe is MLS district 1602 and Osgoode is MLS district 1603 and Vernon is MLS district 1604.
Overall this year is better than last with many different price ranges selling and the styles of homes tend to reflect what is more readily available in this area.
Keep in mind that the Ottawa region is having one of the best years that we have seen in a long time. In many areas we are seeing what we refer to as a sellers’ market, IE there is less than 6 months’ supply of homes on the market. How does this area compare?
Last year at this time we had 24 sales in Metcalfe, 45 sales in Osgoode and 12 sales in Vernon. This year we have 33 sales in Metcalfe, 43 sales in Osgoode and 4 sales in Vernon. A nice jump up for Metcalfe, pretty much break even in Osgoode and a drop in Vernon, but keep in mind last year Vernon sales were exceptionally high. This does include new home builders who advertise on the MLS system. A sale is a sale and resale have to compete with the builders.
While I am writing this, we have 17 active properties in Metcalfe, so approximately 8 months’ supply of homes, 19 in Osgoode or 8.6 months’ supply and 6 months in Vernon.
That is not a lot of homes and indicates good selling opportunities for sellers with a better chance of getting a higher price.
Price Range: this year compared to last year at this time:
Metcalfe sales in 2017
Under $300,000 = 5 sales, last year 6
$300,000-$400,000 = 12 sales, last year 10
$400,000-500,000= 10 sales, last year 6 (a definite shift in the market)
$500,000-600,000 = 5 sales, last year 1 (a definite shift in the market)
$600,000+ = 1 sale, last year 1
Pretty much every price range is selling.
Osgoode Sales in 2017
Under $300,000 = 12 sales, last year 11
$300,000-$400,000 = 16 sales, last year 17
$400,000-500,000= 8 sales, last year 16 (a definite shift in the market)
$500,000-600,000 = 6 sales, last year 2
$600,000+ = 1 sale, last year 0
Vernon Sales in 2017
Under $300,000 = 3 sales, last year 7 (a definite shift in the market)
$300,000-$400,000 = 0 sales, last year 4 (a definite shift in the market)
$400,000-500,000= 1 sale, last year 1
$500,000-600,000 = 0 sales, last year 0
$600,000+ = 0 sales, last year 0
What type of homes are selling this year compared to last year? Last year is shown in (number). Totals are for all 3 towns combined
Two Story= 25 (21) Bungalows 43 (35) HiRanch 8 (13) Split 7 (9)
These numbers pretty much reflect the availability of these homes in this area, IE there are a lot more two story and bungalows than splits and hiranch.
If you are thinking about selling, now is the time to do it. You will have the opportunity to get a higher price while inventory is low. Don’t forget the spring market will see a flood of new homes enter the market. Right now the shortage of homes works in your favour. If you are buying, with interest rates creeping up you don’t want to miss out on the opportunity to own the home of your dreams.
As always, use an agent that you can trust and someone who puts your interests first while offering top notch service.
The Beardsley Team is here to help you out and to offer advice and answer your questions.
For a FREE, no obligation, market evaluation of your home, give us a call at 613-897-6839. If you are thinking about buying this year we also offer a FREE no obligation buyer consultation.
Bev and Keith Beardsley, sales representatives and also Seniors Real Estate Specialists with Keller Williams Solid Rock Realty (Brokerage). We serve Ottawa and the many rural communities that surround the city. CALL or TEXT 613-897-6839. Check out our client testimonials at www.BeardsleyTeam.ca