Kanata Real Estate Agents

Staying in Touch July 2023 Newsletter

Happy July, Enjoy the Summer!

Sometimes when we think of the past it is very awakening to the changes we presently see in technology and science, health care, the environment and in real estate. Growing up in rural Ottawa in a large family, we enjoyed our huge vegetable garden, chickens to supply us with eggs, and cows for milk, it was an education in itself!

Sometimes the real estate market may be difficult to understand, i.e what do we need to do to be able to afford a house? It may be time to look at different options, whether it be a condo to get into the market or a smaller community to get more for your dollar. The small communities may be a good place to start as there are still quite a few people working from home which doesn’t affect commuting times. Luc and Victoria have helped clients find and purchase condos throughout Ottawa and properties in communities a little further away from the center of the city, whether it be to right size or for first time homes.  Call us for more information.

Over the many years in real estate we have sent out our yearly calendar. The picture on the back of the calendar has often been a painting from one of our local artists. We had numbered prints made of some of these paintings (Carp Fair, Mill of Kintail, Pinhey’s Point, Quyon Fairy), see below. If you would like one, call or email us to pick one up or have it delivered by us (note supply is limited).

Paintings: Carp Fair, Mill of Kintail, Phiney's Point, Quyon Fairy

This month we’ve included:

  • Update on the Ottawa market and Mortgage information on Types of Lenders
  • Articles: “Is it time to change your lifestyle? Learn about rightsizing”, “Executor vs. Power of Attorney – What is the Difference?” and “Budgeting for Your Home Purchase”
  • Market news and Upcoming community events including Ottawa Bluesfest, Urban Art Markets and Hope Volleyball Sumerfest

We are always grateful for your referrals of family and friends. Feel free to contact us with any questions.

Enjoy the Summer!

Joan, Victoria & Luc

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   @JoanSmithRealEstateFamily         @JoanSmithRealEstateFamily        Mrs. Joan Smith         @JoanSmithKanata        The Joan Smith Real Estate Family

Market Update

The Ottawa Real Estate Board reports 1,658 residential and condominium properties sold in June 2023 compared to 1,493 in June 2022, representing approximately a 11.1% increase in units sold. Year to date (as of  July 1, 2023) residential unit sales decreased by 18.2% compared to 2022, and condominium unit sales year to date decreased 21.6% when compared with sales in 2022 for the same time period.

The average sale price for residential properties sold in June 2023 was $746,445 compared to $773,162 in June 2022. The average sale price for condominium properties sold in  June 2023 was $448,380 compared to $439,009 in June 2022. Although average prices have declined when compared to the first half of 2022, this year from January to the end of June 2023, the Ottawa average price for residential and condominiums has increased approximately 9.5%.

For Kanata, unit sales in June 2023 (residential and condominium) were 156 compared to 144 sales in June 2022 (approximately a 8.3% increase). For greater Stittsville, unit sales in June 2023 (residential and condominium) were 63 units compared to 72 units in June 2022 (approximately a 12.5% decrease).

In Kanata, the average sale price in June 2023 versus June 2022 decreased 4.6%, for all housing types. For greater Stittsville, the average sale price June 2023 versus June 2022, decreased 6.5%, for all housing types. (Source: June 2023 – Sales by District & Area, Residential and Condominium Property Classes, OREB MLS®, July 1, 2023 – Report#3).

For the full report see “50 Years of Change in the Ottawa Market”

June residential inventory in Ottawa crept up to 2583 homes for sale by the end of the month, about a 13% increase when compared to the inventory of residential homes at the end of May 2023, however about a 15.9% increase when compared to June 2022. Condominium inventory rose to 604 active units at the end of June 2023 compared to 606 units in May 2023, relatively flat. When compared to active condos at the end of June 2022, condo inventory in June 2023 increased 1.7%. See the graph.

Supply of homes on the market has increased, giving buyers more selection and demonstrates sellers’ confidence in the market. Months of inventory for freehold-class properties has increased to 2.1 months from 1.9 months in June 2022 and 1.5 months in May 2023.  Despite typical holiday activity in July and August we see good activity with families looking for closing dates before school starts in September and those looking to move in warmer months. If you are thinking of making a change before the end of the year, now is a good time to get a home evaluation and let us help you prioritize anything to be done to get ready for market. Remember outside updates, i.e trees and hedges, garden and lawn maintenance need time to mature/get completed vs inside tasks.

Source:  2023 – Ottawa Real Estate Board Inventory by Month – Residential and Condo, Tuesday, July 4, 2023 – Report#7).

Ottawa Residential & Condo inventory as June 2023

Latest Mortgage Information

Mortgage Options

In an ever changing real estate market it is more important than ever to know all of your mortgage options. Although the traditional thought may be to obtain your mortgage from your bank, you should know all the options available as well as the perks with each one.

“A” lenders – these include the Big 5 Banks but also Credit Unions, Monoline lenders (mortgage only companies) as well as Trust companies. Monoline lenders can carry a lower rate offer as well as more favorable pre-payment penalties.

“B” Lenders – these lenders fall primarily under the Monoline lender category but are able to offer mortgage options for client that may not fit in the standard “A” lender category. Such programs include options for self employed, bruised credit history, income property portfolios with over 5 properties (as many lenders “A” lenders are restricted to a maximum of 5).

“Alternative/Private lenders – offer great lending options for new construction, land only purchases, short term financing and for clients that are not able to fit within the guidelines for either “A” or “B” lenders. As mentioned, these lenders are used for a short term and require an exit strategy to help the client transition in “A” lending.

Each lender option will carry a different rate tier and on the “B” and Alternative side, a lender fee is charged as well. The rates and fees vary on a case by case basis depending on the property, credit rating and overall file strength.

Don’t feel discouraged if your bank turns you down, contact a Mortgage Agent and explore all your options, we may have a perfect fit for you.

Reni McNeil
Mortgage Brokers Ottawa
Apply online: www.renimcneil.ca
License: 11759

News & Updates

In the Community

Beat the heat at one of Ottawa’s local beaches, splashpads or pools!

Ottawa has four public beaches on the shores of the Ottawa and Rideau rivers. They’re beautiful spots for swimming, barbecuing, picnicking or simply relaxing on a summer day. All are easily accessible by car or bike, feature washrooms and other facilities, and have daytime lifeguards during peak season (generally, June to late August). You can even borrow a beach wheelchair at no charge. There are also many local splash pads and pools to enjoy throughout the Ottawa communities.

Learn more!

Things to Do This Month

See more events:
Things to do in Ottawa this weekend & Ottawa Tourism 

Which Neighbourhood is Right for You?

Imagine moving to a neighbourhood that has something you really want, like a nearby golf course, more wooded areas and walking trails, or a faster commute to work. How would that impact your lifestyle?

Chances are, it would have a big impact! In fact, your choice of neighbourhood plays a huge role in your overall enjoyment of your home.

Of course, you might love living where you are right now, but if you’re looking for a change, here are some tips for finding a new area that fits your desired lifestyle:

Make a list.

Write down all the things you want in a neighbourhood. For example, you might want to live in a bustling urban setting with nearby access to public transit, theatre, and shopping. Or, you might want just the opposite! The point is to clearly define your ideal neighbourhood.

Click here to read our blog with information and tips on finding the neighbourhood that is right for you.

We know the Ottawa real estate market and have the expertise to help you find your new home in the neighbourhood suited to your lifestyle! We are experienced KanataStittsville and greater Ottawa REALTORS®  and we would be pleased to help you, a family member or a friend. Feel free to contact us with any questions.


Home Selling Advice

For many people, selling a home may seem simple at first. In fact, there are many elements to consider when selling your home. To help potential sellers see things a little more clearly, we’ve created a home sellers’ guide that is divided into several topics, from evaluating your home to receiving offers. These topics explain what you need to know and do to successfully sell your home.

Click here to learn more about our Seller’s Guide

You can count on The Joan Smith Real Estate Family to help you navigate through the complex process of selling your home. We will review with you all the elements of our Home Sellers’ Guide that will ensure the successful sale of your home. If you are planning to sell your current home and buy a new one, check out our Selling and Buying a Home at the Same Time page for some useful tips and advice.

We are experienced realtors®  in Ottawa and surrounding areas, we know what buyers are looking for and how to highlight the best features of your home and present them to potential buyers. We are here to guide you through the process of preparing your home for market and the steps involved in selling your home!  We are pleased to answer your questions!

Is it time to change your lifestyle? Learn about rightsizing

Considering downsizing? It is important to know that downsizing is not downgrading. It is about simplifying and changing your lifestyle to one that better fits you and your family. Think of it as rightsizing! Here are some options to consider:

Power of Attorney

Executor vs. Power of Attorney – What is the Difference?

They are both important positions that ensure that a person’s wishes are carried out. An executor helps someone to carry out their wishes after they die. A power of attorney enables a person to make decisions on their behalf while they are still alive.

Budgeting for Your Home Purchase

When you are planning to buy a home in Ottawa and surrounding areas, it is important to budget for the costs associated with your home purchase. There are costs at the time of purchase and costs at time of closing.

Featured Homes for Sale, Rent & Recently Sold

Market stats from the Ottawa Real Estate Board show that we are back into sellers market territory, all neighbourhoods are different though. We would be happy to answer any of your questions about the market and these beautiful homes.

Contact Us!


I am very pleased with all your assistance and professional help both with selling this home and my first home. Will definitely recommend you to others. Thanks again and I know I can still call if I have any questions.