assignment sale ottawa

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Vaughan Vmc Condo Assignment Sale. 1 Bed, $499,000 Ottawa Ottawa Ontario toronto downtown time and space condos assignment sale. 11 bed 2 bath...

Assignment Sale For 50000 Less, Minto New Single House In Ottawa Ottawa Ottawa Ontario assignment sale this new home is in the quinns point of...

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楼花转让 |time Space Condo Assignment 1bed+den 2bath Only$688,000! Ottawa Ottawa Ontario 177 front st e 1bedden 2bath 550sf39sf bal high floor...

楼花转让 | Sugar Wharf Condo Assignment 3bed 2bath Only$1,190,000! Ottawa Ottawa Ontario 3 bedrooms 2 bathrooms 812 square feet 335 square feet...

楼花转让 | Peter & Adelaide Condo Assignment 1b 1b Only$599,990! Ottawa Ottawa Ontario 102 peter st toronto on m5v 2g7 1 bed 1 bath 470sf 39sf...

Chateau Park North York Leslie & Eglinton Condo Assignment Sale! Ottawa Ottawa Ontario chateau condo residences surrounded by parks completion...

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Distress 楼花转让| 250 Lawrence Assignment 1bed+den 1bath Only$599k! Ottawa Ottawa Ontario 250 lawrence ave w 1bedden 1bath 559sfbalcony mid floor...

楼花转让 | Lawrence Condo Assignment 1 Bed+den 1 Bath Only$599990! Ottawa Ottawa Ontario 250 lawrence ave w 1bedden 1bath 559sfbalcony mid floor...

Exclusive Assignment Sale Opportunity In Brantford Ottawa Ottawa Ontario assignment sale in brantford west brant heights offers more than just...

Assignment Sale _preconstruction-55 Mercer 1 Bed With 1 Bicycle/ Ottawa Ottawa Ontario 55 mercer 1 bedroom assignment sale original price...

Incredible Assignment . Amazing Unit! Ottawa Ottawa Ontario urgent. Incredible assignment . Amazing unit daniels artworks penthouse. Se corner...

Assignment Sale: 4 Bedroom Detached With Fin W/o Bsm In Bradford Ottawa Ottawa Ontario bradford west gwillimbury ontario l3z assignment sale...

Brand New, Ready To Move In Townhouse Assignment For Sale Ottawa Ottawa Ontario brand new ready to move in state of art townhouse assignment ...

Stunning 4 Bed 2560 Sq Ft Assignment Sale In East Gwilimbury Ottawa Ottawa Ontario direct buyers only no realtors take a look at this...

楼花转让|artwork Condo Assignment 1bed 1bath! Only Asking $578000! Ottawa Ottawa Ontario 130 river st toronto 1bed 1bath 551sfbal east view...

Downtown Toronto. Assignment Sale Ottawa Ottawa Ontario amazing late 2023 size. 860 sqft 1 parking 1 bicycle storage if you are interested in...

Brand New Luxury Bachelor @88 Scott Assignment Deal Must See! Ottawa Ottawa Ontario brand new luxury bachelor 88 scott assignment deal must...

Peter Adelaide Condo. 108 Peter Assignment |楼花转让 Ottawa Ottawa Ontario peter adelaide condo assignment only 1100 psf 108 peter st toronto...

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Assignment Sales

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Assignment Sales are available throughout many areas, here are some of the areas in Ontario to explore.

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Assignments for sale in Milton (2024)

12 milton detached, townhomes or condos assignment for sale on homebaba.

$ 2,200,000 3010 Sqft

Occupancy - Jan 2024

Regional Road 25 & Britannia RD

Bay Street Group Inc., Brokerage

$ 1,399,000 2031 Sqft

Occupancy - September 2023

Regional Road 25 & Britannia Road-II

$ 850,000 940 Sqft

Occupancy - July 2024

8175 Britannia Rd

Ravi Godara

Elixir Real Estate

$ 615,000 615 Sqft

Occupancy - August 2023

Louis st laurent ave & Tremaine Rd n

$ 865,000 1446 Sqft

Occupancy - April 2023

Regional Road 25 & Britannia Road- I

$ 825,000 1321 Sqft

Britannia & Regional Rd 25- II

$ 936,000 1300 Sqft

Britannia & Regional Rd 25- I

$ 1,300,000 2031 Sqft

Britannia Rd & Regional Road 25

$ 1,145,000 1960 Sqft

Occupancy - January 2023

Regional Road 25 & Britannia Road [SOLD]

$ 1,600,000 2575 Sqft

Occupancy - Mid 2023

Tremaine Road & Bergamot Avenue

$ 925,000 1600 Sqft

Britannia & Regional Rd 25

$ 1,099,000 1960 Sqft

Occupancy - Jan 2023

Leatherleaf Landing & Rose Way [SOLD]

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Milton Assignment Sale - Check out Pre construction Condos, Townhomes & Detached home assignment for sale in Milton.

1. what is a preconstruction assignment sale, an assignment is a sales transaction where the original buyer of a property (the “assignor”) allows another buyer (the “assignee”) to take over the buyer’s rights and obligations of the agreement of purchase and sale, before the original buyer closes on the property (that is, where they take possession of the property). the assignee is the one who ultimately completes the deal with the seller., 2. is an assignment legal in milton, unless otherwise prohibited  or restricted in writing in the original agreement of purchase and sale,  it is mostly legally permitted . in some cases, the developer may charge the assignor a fee for this kind of sale. the best thing to do is to contact the builder directly to confirm if you are allowed to assign your purchase contract because assignment restriction and fees vary from builder to builder., most popular neighbourhood for preconstruction assignments sale in milton, rapid growth in milton has resulted in development pressure and significant interest in redevelopment in milton’s mature neighborhoods. this has led to large residential developments, property renovations, additions and demolitions to accommodate large homes. this development has raised public concern about the character and future of our mature neighborhoods. ( source: city of milton ).

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If you are looking to invest or buy a home outside Greater Toronto area check out Preconstruction homes in Ottawa page for all upcoming projects. Homebaba has over 15+ condo, townhomes and detached pre construction homes in Ottawa

Homebaba is one of the leading online marketplace for pre-construction and assignment sales in Milton, Ontario. Check out hundreds of Milton Assignment Sales advertised by Real Estate Agents in Ontario.  The listings such as assignment for sale listings, resale listings or preconstruction project listings & description of the related pages are uploaded by Real estate agents. Homebaba does not verify the correctness of the data uploaded on its platform. Please contact the listing agent to verify the information. E&OE expected.

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Home » Real Estate News » Real Estate Guide » Assignment Sales

Fundamental Difference Between a Resale vs Assignment Sales

June 21st, 2023 8 min read -->

A resale is a transaction where the buyer purchases a property from the original owner. The property is already completed and ready to move into. On the other hand, an assignment sale is a transaction where the buyer purchases the rights to a property from the original owner. The property is under construction and is still being prepared to move into. Here is a table that summarises the key differences between Resale vs Assignment Sales

Table of Contents

What are the Pros and Cons of an Assignment Sale?

Assignment sales, also known as contract assignments or flipping contracts, are common in the real estate market. In an assignment sale, a buyer who has entered into a purchase agreement with a seller transfers their rights and obligations under the contract to a third party before the completion of the sale. While assignment sales can offer certain advantages, they also have potential drawbacks. Let’s explore the pros and cons of Assignment Sales: 

Pros of Assignment Sales 

• One of the primary advantages of assignment sales is the potential for a significant profit. Assignors can secure a property at a lower price and then sell their contract to a new buyer at a higher price, capitalising on market appreciation or favourable negotiation.
• Assignment sales allow buyers to secure a property without obtaining a mortgage or making a down payment upfront. This flexibility can benefit investors or buyers who may need more immediate access to funds but want to secure a property at a particular price.
• Assignors can avoid the financial risks of property ownership, such as mortgage payments, property taxes, and maintenance costs. If the market conditions change or the buyer’s circumstances alter, they can sell the contract to another party without taking on these financial burdens.
• Assignment sales provide a quick exit strategy for buyers who may change their minds or encounter unforeseen circumstances that prevent them from completing the purchase. By assigning the contract to another buyer, they can exit the transaction without the complications of selling the property on the open market.

Cons of Assignment Sales

• Assignment sales involve intricate legal processes and require the involvement of multiple parties, including the original buyer, the assignee, the seller, and sometimes even lenders. The complexity can lead to challenges, delays, and increased legal expenses.
• The success of an assignment sale depends on the consent of the original seller. Some sellers may not permit or may have restrictions on assignment sales, limiting the pool of potential properties available for assignment.
• As an assignor, you relinquish control over the property and the final sale process once you transfer the contract to the assignee. This lack of control can be frustrating if the assignee’s actions or decisions affect the property negatively or lead to complications.
• In a declining market, an assignor may need help finding a buyer willing to pay the assigned price. This can result in financial loss if the assignor cannot sell the contract or need to sell it at a lower price than they initially anticipated.
• Some critics argue that assignment sales contribute to housing speculation and affordability issues, as they can drive up prices and limit housing supply. This perception can lead to negative public sentiment and potential regulatory scrutiny in some markets.

Assignment Sales for Sellers: What are its Advantages? 

• Higher Selling Price : In an assignment sale, sellers can sell their property more elevated than the original purchase price. Assignors, who act as intermediaries, often negotiate a higher price with the new buyer due to market appreciation, renovations, or other factors. This allows sellers to maximise their profit and earn more than anticipated.
• Faster Sale Process : Assignment sales can expedite the sale process for sellers. Rather than waiting to complete the original contract, sellers can transfer their rights and obligations to the assignee. This enables them to sell the property without going through the typical marketing and negotiation process, which can save time and effort.
• Avoidance of Holding Costs : Sellers can avoid holding costs associated with property ownership by selling through an assignment. These costs may include mortgage payments, property taxes, insurance, maintenance, and other ongoing expenses. Selling through an assignment allows sellers to transfer these responsibilities to the assignee, potentially saving them money in the long run.
• Increased Flexibility : Assignment sales provide sellers more flexibility regarding their plans. By completing the sale through an assignment, sellers can move forward with their plans without waiting for the original contract to close. This can be particularly advantageous if sellers need to relocate, downsize, or make other arrangements quickly.
• Lower Marketing Costs : When selling a property traditionally, sellers often need to invest in marketing efforts to attract potential buyers. This can include listing fees, advertising expenses, staging costs, and other related expenditures. In an assignment sale, the assignee typically assumes the responsibility of finding a new buyer, reducing or eliminating the need for sellers to incur marketing expenses.
• Minimised Default Risk : In certain situations, sellers may encounter circumstances that prevent them from completing the original purchase contract. This could be due to financial constraints, changes in personal circumstances, or other unforeseen events. By assigning the contract to a new buyer, sellers can avoid defaulting on the contract and potential legal consequences.

What are the Advantages of Assignment Sales for Buyers? 

Assignment sales offer several advantages for buyers in the real estate market. Here are the key benefits of assignment sales for buyers:

• Potential for Lower Purchase Price : Buyers engaging in assignment sales can secure a property at a lower purchase price than buying on the open market. Assignors often negotiate a favourable purchase price when they contract with the original seller. This can be advantageous for buyers looking for a good deal or who want to invest in properties with potential appreciation.
• Flexibility in Financing : Buyers participating in assignment sales can enjoy greater flexibility in financing options. Since they are buying the contract from the assignor, they may not need to secure a mortgage or make a substantial down payment immediately. This flexibility can be particularly beneficial for buyers needing more immediate access to large sums of money or facing challenges in obtaining traditional financing.
• Ability to Customize the Property : In some cases, buyers engaging in assignment sales can customise or make changes to the property before the completion of the sale. This flexibility allows buyers to tailor the property to their preferences by selecting finishes, fixtures, or design elements and creating a personalised living space or investment property.
• Potential for Profit : Assignment sales can provide buyers with profit potential. Suppose market conditions favourably change between the time the assignor entered into the contract and the completion of the sale. In that case, buyers can sell the property at a higher price, capturing the appreciation and generating a profit without ever taking ownership. This profit potential can attract investors or buyers looking for short-term gains.
• Expedited Purchase Process : Assignment sales can facilitate a faster buyer purchase process. Rather than going through the lengthy process of searching for a property, negotiating with sellers, and dealing with potential competing offers, buyers can step into an existing contract and finalise the sale with the assignor. This can save time and streamline the purchase process, allowing buyers to secure a property quickly.
• Lower Transaction Costs : Assignment sales may involve lower buyer transaction costs than traditional property purchases. Since buyers purchase the contract from the assignor, they may not need to pay certain closing costs associated with the initial purchase, such as land transfer taxes or legal fees. This can result in savings and make the overall transaction more affordable for buyers.

What Disadvantages Does a Buyer Face on Assignment Sales? 

Here are the key drawbacks of assignment sales for buyers:

• Limited Property Selection : Assignment sales often involve a limited pool of properties. Assignors may sell their contracts for various reasons, such as properties with a potential appreciation or in-demand locations. As a result, buyers participating in assignment sales may have fewer options than in the broader real estate market.
• Potential Seller Consent Issues : The success of an assignment sale depends on the consent of the original seller. Some sellers may have restrictions on assignment sales or may simply refuse to allow the transfer of the contract to a new buyer. This can create challenges for buyers who have invested time and effort into an assignment transaction only to have it rejected by the original seller.
• Lack of Control and Information : Buyers engaged in assignment sales have limited control over the original contract and the terms negotiated by the assignor. They may have yet to be involved in the initial negotiation process, which can lead to uncertainty about the terms and conditions of the purchase. Additionally, buyers may need more access to information about the property, its history, or potential issues, as they rely on the assignor for this information.
• Increased Complexity and Potential Delays : Assignment sales can be more complex than traditional property purchases. Multiple parties include the original seller, the assignor, and potential lenders. This complexity can lead to delays, as other legal and administrative processes may be required. Buyers may need to navigate various agreements and documents, potentially leading to more extended closing periods or increased legal expenses.
• Higher Risk of Non-Completion : Assignment sales carry a higher risk of non-completion than standard property purchases. Since buyers are assuming a contract from the assignor, they may face uncertainties and risks associated with the assignor’s ability to fulfil their obligations. If the assignor fails to complete the contract, it can lead to complications, potential legal disputes, and the loss of any invested time or resources.
• Market Fluctuations and Financial Loss : While assignment sales can offer profit potential, they also expose buyers to the risk of financial loss. Suppose market conditions decline or change unfavourably between the time of the assignment and the completion of the sale. In that case, buyers may need help to sell the property for a profit. Sometimes, they may need to sell lower than the initial purchase price, resulting in a financial loss.

What are the Disadvantages of Assignment Sales for a Buyer?

Here are the key drawbacks of assignment sales for buyers: 

• Limited Property Selection: Assignment sales often involve a limited pool of properties. Assignors may sell their contracts for various reasons, such as properties with a potential appreciation or in-demand locations. As a result, buyers participating in assignment sales may have fewer options than in the broader real estate market.
• Potential Seller Consent Issues: The success of an assignment sale depends on the consent of the original seller. Some sellers may have restrictions on assignment sales or may simply refuse to allow the transfer of the contract to a new buyer. This can create challenges for buyers who have invested time and effort into an assignment transaction only to have it rejected by the original seller.
• Lack of Control and Information: Buyers engaged in assignment sales have limited control over the original contract and the terms negotiated by the assignor. They may have yet to be involved in the initial negotiation process, which can lead to uncertainty about the terms and conditions of the purchase.
• Additionally, buyers may need more access to information about the property, its history, or potential issues, as they rely on the assignor for this information.
• Increased Complexity and Potential Delays: Assignment sales can be more complex than traditional property purchases. Multiple parties include the original seller, the assignor, and potential lenders. This complexity can lead to delays, as other legal and administrative processes may be required. Buyers may need to navigate various agreements and documents, potentially leading to more extended closing periods or increased legal expenses.
• Higher Risk of Non-Completion: Assignment sales carry a higher risk of non-completion than standard property purchases. Since buyers are assuming a contract from the assignor, they may face uncertainties and risks associated with the assignor’s ability to fulfil their obligations. If the assignor fails to complete the contract, it can lead to complications, potential legal disputes, and the loss of any invested time or resources.
• Market Fluctuations and Financial Loss: While assignment sales can offer profit potential, they also expose buyers to the risk of financial loss. Suppose market conditions decline or change unfavourably between the time of the assignment and the completion of the sale. In that case, buyers may need help to sell the property for a profit. Sometimes, they may need to sell lower than the initial purchase price, resulting in a financial loss.

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Frequently Asked Question (FAQs)

What is the purpose of resale.

Resale is to transfer ownership of a previously owned item or property from the seller to a new buyer.

What is selling and reselling?

Selling refers to exchanging goods or services for monetary compensation, while reselling involves selling something previously purchased, typically to make a profit.

How much money can you make from resale?

The amount of money on resale depends on the type of property you have and the real estate environment of the area.

What is a good resale percentage?

The resale percentage depends on the real estate environment.

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This a community for realtors and citizens of Ottawa to share information about the Ottawa real estate market. This is also your opportunity to ask any questions about the real estate market or homes in general and get answers from professionals in the Ottawa market.

Where to find info on assignment sales

I’m just checking to see where the new construction assignment sales for the Ottawa area are usually listed/posted.

I know there are few Facebook groups but is there anywhere else I can check to find info on assignment sales?

I know assignments sales cannot be posted on MLS, so where do the realtors or direct sellers post their assignment sales to get interest?

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Federal government approves purchase of key Ottawa property from friend of prime minister

By Glen McGregor

Posted June 7, 2024 10:29 am.

Last Updated June 8, 2024 7:24 am.

The Trudeau government has approved a decision by the National Capital Commission to buy a key piece of real estate in downtown Ottawa that is partially owned by a close friend of the prime minister.

On May 24, the Privy Council Office published an order-in-council approving the NCC’s plan to purchase the building at the corner of Sparks Street and O’Connor Street, a block from Parliament Hill.

The property is currently registered to 148-152 Sparks St., an Ontario corporation partly owned by Tom Pitfield, a long-time friend of Justin Trudeau.

The Prime Minister’s Office referred questions about the purchase to a spokesperson for Public Services and Procurement Canada, which said Trudeau was not involved in the cabinet approval of the deal.

“This Order-in-Council was submitted to the Governor in Council via the Treasury Board process and was approved,” said PSPC spokesman Guillaume Bertrand in an emailed statement.

“An acquisition of this type requires Treasury Board approval only – it does not involve the approval of the Prime Minister or at a meeting of the full Cabinet.”

In an email, Pitfield confirmed he has an ownership position in the company but said he had not discussed the sale of the property with the prime minister or anyone else in cabinet.

“With respect to the office space that you reference, I have had a partial / minority stake in its ownership for more than 10 years now — and did not have any such conversations about the NCC’s decision with the officials that you mention,” he wrote.

Pitfield is listed on mortgage documents on the property, along with Ottawa lawyer Gordon Cudney, the company’s sole director, according to incorporation records.

The company purchased the property on Sparks St. in 2014 from Ages Holdings Ltd. and Murray Macy Enterprises Ltd. for $4.8 million. 

It includes a three-storey office building, retail space and a ground-floor restaurant. Canada2020, a think-tank with ties to the federal Liberals that Pitfield co-founded, has offices in the building

The NCC says the deal has not been finalized and did not say how much it will pay for the property.

“This property is in a prominent location along the Sparks Street pedestrian mall and in close proximity to the parliamentary precinct, enabling the NCC to advance its priorities in planning, developing, and improving the [National Capital Region] in alignment with its mandate,” NCC spokesperson Dominique Huras said in an email.

Pitfield is the son of the late Michael Pitfield, who served as the Clerk of the Privy Council when Trudeau’s father was prime minister. He is married to Montreal Liberal MP Anna Gainey, a past president of the Liberal Party of Canada.

The couple travelled with Trudeau and his family on holiday in Bahamas in 2016. The ethics commissioner found Trudeau had breached the federal ethics law on the trip by accepting a helicopter ride to the Aga Khan’s private island.

Pitfield’s relationship with the prime minister featured in a 2021 complaint to the federal ethics commissioner by Conservative MP Michael Barrett over contracts with Pitfield’s data analytics company, Data Sciences. 

Barrett noted that many Liberal MPs had used their parliamentary office budgets to pay Data Sciences for software used to manage contacts with constituents.  The ethics commissioner, Mario Dion, later dismissed the complaint, saying he had no reason to believe Trudeau had acted to further Pitfield’s private interests.

Pitfield was chief digital strategist for Trudeau’s leadership bid in 2013 and did similar work on the Liberals’ election campaigns. 

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DePaul University dismisses biology professor after assignment tied to Israel-Hamas war

By The Associated Press

Posted Jun 10, 2024 10:40:43 AM.

Last Updated Jun 10, 2024 12:10:56 PM.

CHICAGO (AP) — DePaul University said it dismissed a part-time biology instructor after she gave an optional assignment related to the Israel-Hamas war.

Anne d’Aquino told students in May that they could write about the impact of “genocide in Gaza on human health and biology.” The theme of the spring class at the Chicago school was how microorganisms cause disease.

DePaul said some students “expressed significant concern” about politics in a science class.

“We investigated the matter, spoke with the faculty member, and found it had negatively affected the learning environment by introducing extraneous political material that was outside the scope of the academic subject as outlined in the curriculum,” DePaul said Friday in a statement.

The school noted an email with the assignment expressed support for people “resisting the normalization of ethnic cleansing.”

“The class was provided a new instructor, and the faculty member has been released from their appointment as a part-time faculty member,” DePaul said.

D’Aquino is appealing her dismissal.

About 50 people protested last Thursday in support of her, waving Palestinian flags, the Chicago Sun-Times reported.

“My termination was a breach of my academic freedom and another example of this administration’s efforts to twist any discussions of Palestine and Palestinian liberation language into false claims of antisemitism,” d’Aquino said at the demonstration.

She said the assignment was relevant, noting that scientists have warned about the spread of disease in Gaza due to malnutrition and a lack of water and adequate sanitation.

The Associated Press

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Ottawa Housing Market Report

• The average home sale price in Ottawa’s housing market increased by 4% year-over-year to $705,117 in April 2024, an increase of 3.4% from last month.
• The composite benchmark price of a home in Ottawa was $643,700, increasing by 1.6% compared to April 2023 and by 1.1% from last month.
• The average single-family house price reached $856,521, increasing by 0.6% yearly and 1.1% monthly.
• The average townhouse price was $553,740, a decrease of 0.6% compared with April 2023 and 0.4% from last month.
• The average apartment price was $444,694, a decrease of 1.5% compared with April 2023 and 0.8% from the previous month.
• June 11, 2024 Update: Today’s Lowest mortgage rate in Ottawa is 4.54 % for 5 -Year Fixed

Ottawa Housing Market Overview

Ottawa Housing Market: Price Movements for April 2024

In April 2024, the home prices in Ottawa’s housing market continued to show a year-on-year growth, mainly driven by the gains in the prices of single-family homes. On the other hand, the home sales trailed the 5-year and 10-year average for the month by 2.2% and 6.9%, respectively. Meanwhile, there has been a notable increase in the new listings, which hints at the growing confidence of sellers.

Home Prices

The average home price in Ottawa increased by 3.4% on a monthly basis to a price of $705,117 in April 2024. This price also reflects an annual growth of 4%. Notably, this month, the average home price in Ottawa crossed the $700k mark for the first time since May 2022. The average home price in Ottawa has decreased by about 6.6% over the past three years and increased by approximately 52% over the past five years. These numbers reveal that the home prices in Ottawa’s housing market increased by over 50% in the two-year span from April 2020 to April 2022.

Meanwhile, the composite benchmark price of $643,700 in April 2024 is a 1.6% increase compared to last year. The benchmark price grew on a monthly basis for the third month in a row, increasing by 1.1% compared to March.

Also, the median price often gives a more accurate sense of the market prices, representing the midpoint and not skewed due to the extremes. The median price of homes sold in Ottawa’s housing market in April 2024 was $648,000, increasing by 0.9% from the previous year and by 2.9% from last month.

The sales-to-list price ratio was 98.9%, which means that homes sold 1.1% below the listed price on average.

Sales and Inventory

The 1,456 sales in April 2024 were 2.2% lower than in April 2023 but increased by 25% on a month-on-month basis. The sales were 2% below the 5-year average and 6.9% below the 10-year average for the month of April.

There were 2,597 new listings on the Ottawa housing market in April 2024, representing a 25% growth from the previous month and a remarkable 40.5% increase from last April. The month's sales-to-new listings ratio (SLNR) was 56%, remaining unchanged from last month. An SLNR of 40% - 60% typically indicates that the market is balanced and doesn’t tip in favour of sellers or buyers.

The market had 2,966 active listings , an increase of 111% compared to two years ago, hinting at a significant improvement in the inventory levels from the extremely low inventory observed during the 2022 peak. There were 2.0 months of inventory at the end of April 2024.

Property Types’ Analysis

Looking at the different property types in Ottawa,

Single-family homes had a median selling price of $785,750 in April 2024, increasing by 0.5% from last year.

Townhouses sold for a median price of $565,000 in April 2024, a decrease of 0.9% year-over-year.

The median price for apartments in April 2024 was $407,444, decreasing by 0.4% from last year.

Mortgage rates determine the cost of borrowing, which directly impacts home affordability. The rates today are significantly higher than two years ago, making it difficult for homebuyers to pass the mortgage stress test . The recent mortgage rate forecasts suggest that the rates will start declining by mid-2024, which might encourage more buyers to make a move. However, even after the rate cuts, the mortgage rates will likely remain quite high for most part of 2024, and affordability will still remain a concern.

Ottawa’s housing market is much more affordable than Vancouver’s housing market , and Toronto’s housing market , which have average home prices of over $1M. It is also significantly cheaper than other markets in Ontario , such as Hamilton’s housing market , Mississauga's housing market and Brampton's housing market . Looking at cities outside Ontario and B.C., Ottawa’s housing market is slightly more expensive than the Montreal housing market and the Calgary housing market . As most homes in Ottawa are well below the $1 million mark, they are still eligible for a minimum down payment of 5% to 10% with CMHC insurance , allowing more buyers to compete for the inventory.

Home Prices in Ottawa

Ottawa housing market statistics for all property types in april 2024, average sold price and mls hpi benchmark price, total transactions, glossary and definitions.

MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.

MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.

Strata Insurance: Strata insurance is insurance used by a strata like a condominium to covers damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:

• Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
• Liability for any property damage or bodily injury suffered on strata property
• Any fixtures that are part of the "standard unit" or original construction of each unit

Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.

Property types

Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.

Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.

Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.

Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.

Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.

Property Classes

Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.

Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.

Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owner of the buildings has leased the land and pay rent to their landlord while owning the building on the land.

Housing Markets Across Canada

Data sourced from the Ottawa Real Estate Board (OREB) and the Canadian Real Estate Association (CREA) . Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.

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Suspended Counterparty Program

FHFA established the Suspended Counterparty Program to help address the risk to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (“the regulated entities”) presented by individuals and entities with a history of fraud or other financial misconduct. Under this program, FHFA may issue orders suspending an individual or entity from doing business with the regulated entities.

FHFA maintains a list at this page of each person that is currently suspended under the Suspended Counterparty Program.

This page was last updated on 03/26/2024

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See all homes sold in Ottawa County, June 3 to June 9

• Updated: Jun. 10, 2024, 3:45 p.m. |
• Published: Jun. 10, 2024, 3:43 p.m.
• Real Estate Newswire

The following is a listing of all home transfers in Ottawa County reported from June 3 to June 9. There were 52 transactions posted during this time. During this period, the median sale for the area was a 1,588-square-foot home on Wilson Avenue in Hudsonville that sold for $350,000.

5697 Forest View Street, Allendale, $290,000, 1,966 square feet, $148 per square-foot, two bathrooms.

More realestate news

• See all homes sold in Muskegon County, June 3 to June 9
• See all homes sold in Wayne County, June 3 to June 9
• See all homes sold in Grand Haven and Spring Lake, June 3 to June 9
• See all homes sold in Washtenaw County, June 3 to June 9
• See homes sold in the the Bay City area, June 3 to June 9

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