Year End 2021

Alright, you, beautiful people.

It is January 2022, it's a brand new year, naturally.

We're taking a look back at what happened in

December 2021 as well as the year at large.

Uh some real big shake up, some changes that happened in real estate.

So if you're enjoying what you're seeing here,

as always feel free to like subscribe to the channel share with your friends,

if there's anybody who you think might be interested in

moving this year and there's tons of great content,

new listing videos that we're putting on a regular basis,

weekly podcasts with with Brendan and I in them.

So feel free to have a look at some of the other stuff that's on there.

But without further ado let's just jump right into it Uh month combined.

So we're talking about the month of December, we sold 862 houses.

It's a decrease of 13.5%. But of course The reason it is a decrease of 13.5% is because

We sold so many houses towards the end of 2020 because the

beginning of 2020 was essentially locked down as you all remember.

However, the average price of a house went up by 15.8%.

This is both of a home and condo in Ottawa.

So the average prices you can see there between the two at 6:15

Inventory, this is the name of the game. Okay?

We're talking about 16.1% less properties available for sale 806 both

homes and condos at the end of December 2021 and we're starting

to feel a bit of a pinch in January 2022 starting

to feel like the prices are going up as a result.

And you can see November 2021, we had 1336. So a drastic drop coming through there.

Okay, number of sales, you can see 28 days of inventory.

It's four weeks worth of inventory, not even a full month.

So definitely a heavy seller's market going on right now. Year to date.

So where did we land for all of 2021? Well, we set a new record.

We've never sold 20,000 properties in Ottawa in one calendar year and we did it.

So it's an increase of 7.1% over 2020,

which again was an increased year where we sold more homes than we ever had At 18,953.

All right, the average price of a home went up by 22% in Ottawa. Okay.

For the entire year, which is, which is amazing. And that's both homes and condos.

So in 2020, the average price went up by 19.9 in 2022, the average price went up by 22%.

So pretty drastic increases on both accounts.

Um, as you can see the first year we talked about this,

Ottawa sold more than 20,000 houses, big milestone.

We're also breaking records, price records,

the forecast for 2022 is more of the same.

Um even given the fact that we still have all of these constraints

with regard to low inventory levels,

we don't expect that the inventory levels are going to go up

high enough to offset the pressure that's being put on house prices.

Um, So we'll break it down,

we'll talk about the residential side before we talk about the condo side.

So on the residential side, we sold 50% less homes.

Again,

that's because 2020 was really back loaded with regards

to the number of houses that were sold,

But the average price went up in December 2, 17.6% from 603-709.

You can see there

Again, inventory is really low. There's almost nothing to choose from.

At the end of December 562 houses at the end of November, you can see it was 929,

so a really significant decrease December 2020,

we had what felt like a really small a group of houses

to choose from while it's even less at the end of 2021.

And again,

we're feeling those constraints in um uh in january in the new year and again,

you can see it's definitely a seller's market four weeks worth of inventory.

That is not a lot of homes to choose from. Okay, year to date.

On the residential side, again, set some records,

we've never sold over 15,000 residential properties in one year in Ottawa.

Well we did this year, Okay, 6.1%. The average residential price.

And I'm sure you've seen this, if you're paying attention to what's going on,

real estate,

average residential price in Ottawa is 7 19 605 last year was 5

82 and we just thought that was bananas as far as prices go.

But even still, that's an increase of 23.6%. So big, big changes happening here.

The residential properties almost went up by 25%.

I'd call for 30% while some other predictors were calling for 10 or 11%.

So no solution to the inventory issue.

Uh you know,

people talking the government's talking about

how they're gonna implement changes to

tax the money that people are making with houses.

But I think the real solution to the problem that

we're having about the prices jumping up so quickly is

Ah there isn't enough inventory.

We need to force builders to build more homes more quickly

even if they started building all of the homes right now,

it would still take at least 18 months before they would start to come to the market.

So um we're expecting upward pressure to maintain on house prices into 2022,

okay, On the condo side, okay.

We sold last condos in the month of december,

but the average price went up by 12% again,

we've got some fluctuations that we saw from last month,

we've been starting to track what's happening in terms of pricing

on condos because there's been some really weird stuff going on.

A number of houses and condos sold. Again, it's lower.

The reason it's lower is because uh this was on the last slide, sorry,

the number that's lower is is because

We had a bigger 2020, uh

2020 at the end of year, inventory is much less significantly less at the end of 2020.

We were seeing the condo numbers of units

creeping up and we're not noticing that now,

okay,

we're noticing them going down at the end of the year and

you can see it was 407 at the end of november,

it's 2 44 at the end of december, so not a lot.

Again, four weeks of inventory, we sold less houses in december.

So even though we've got less inventory, we also had less sales.

That will change as the year rolls on

Year to date. On the Condo side, we almost sold 5000 condos just a little bit under.

It seems as though chances are in 2022, we will sell over 5000, but again, you know,

that's a 10% increase in terms of number of condos sold year to date and

it's a 16.1% increase in terms of the average price of a condo in Ottawa.

Um So this is october, we noticed that $20,000

dip in terms of pricing average condo prices and that was made up

in november went up by 27,000 and then december saw another $30,000 drop.

So it's an interesting yo yo effect that

we noticed in that monthly average condo price,

because I mean, we're talking about a $400,000 price point here,

so $30,000 there's no, it's no sludge of a number.

And we're talking, you know, selling 23, maybe 400 condos in a year,

starting a month.

Um you know,

you can't have that big of an effect without having something else going on.

So we'll keep watching what's happening and a few

people that I've spoken to said that might be

as a result of what's happening um with the

price point of the condos that are selling.

So,

but it's just weird that it would be changing that much a month over month anyways,

if you guys like what you saw here,

if you found it interesting if you know anybody who's thinking about moving

and you want to share this with them as always feel free to,

to like the channel,

subscribe to the channel share with your friends um and and and

check out some of the other neat stuff that we're doing,

there's a blooper reel up on the channel that's a lot of fun to watch.

So if you're thinking about moving or investing or you'd like to buy or sell,

it's a condo or

house, whatever it looks like.

If you just want to chat about real estate, we can do that too happy to,

to do with the team.

And I'll be always happy to help.

As always feel free to give us a call the phone number 1888,

real 585 or hit up with the DM and until then keep it real collective.

Year End 2021

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