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The seven most expensive homes for sale in Ottawa this fall – CTV News Ottawa

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CTVNewsOttawa.ca looks at the seven most expensive homes for sale in Ottawa this fall.

The most expensive home for sale in Ottawa this fall is River View Estate located in Dunrobin, Ont.

Located on a 27.8 acre property, the home with 835 feet of waterfront and wooded trails has six bedrooms, six baths and three partial baths, a six-car attached heated garage, a guest house, an indoor pool and a tennis court.

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“Simply spectacular! This is the quintessential estate property: where lifestyle meets function and beauty,” says the listing on Christie’s International Real Estate. “The proud, gated approach to River View Estate foreshadows the sophisticated and tranquil ethos of the property.”

The home includes a large recreation room, a fitness room with direct access to the outdoors and a “fabulous” home theatre.

“This incredible estate property is unlike any other lifestyle property to have come to the market in Ottawa: it offers views and water access, resort elements, sports amenities and a superlative layout,” says the listing.

The indoor swimming pool inside River View Estates, the 27.8 acre property for sale in Dunrobin, Ont. (Christie’s International Real Estate/website)

This five bedroom, eight bathroom home is situated on the Rideau River in Ottawa’s south end.

“Ottawa’s most opulent home awaits,” says the listing on Realtor.ca.

The home includes a waterfront docking system, outdoor fire feature and fountain, wine cellar, sauna, steam room, salt room, gym, billiard room, an indoor pool with a swim jet system and hot tub.

“The quality exudes through this palatial mansion,” says the listing. “Enjoy vistas of your private waterfront beyond the commercial grade indoor pool w/ swim jet system & hot tub through 3 stories of large windows. Balconies from 3 of the bedrooms pier out over the pool area creating a vacation feeling year-round.”

The home on Winding Way along the Rideau River in Ottawa has five bedrooms, eight bathrooms, an indoor poor and a waterfront docking system. (Realtor.ca/website)

The six bedroom, seven bathroom home on Acacia Avenue in Ottawa’s Rockcliffe neighbourhood is on the market for $5.4 million.

“This grand & elegant Rockcliffe home is situated in the heart of the old village on a beautiful picturesque lot,” says the listing on Realtor.ca “It boasts over 26,300 sq. ft. with an in ground pool, mature trees & beautifully manicured gardens.”

The listing says a room on the third floor is being used as a gym, and there is a double car garage at the home.

The home at 283 Acacia Avenue includes an in ground swimming pool and a pool room with a three piece bathroom. (Realtor.ca/website)

The Estate is located in Manotick, featuring six bedrooms, five full baths and one partial bath, a saltwater pool, and completely private treed views.

“Elegance and fabulous living are at the heart of this spectacular château-inspired stone manor, set on 4 manicured acres,” says the listing on Christie’s International Real Estate.

The listing says “every amenity is accommodated for” in the home, including a large recreation room, a home theatre and a “wonderful gym.”

This home at 5944 Earlscourt Crescent in Ottawa includes a saltwater pool and completely private treed views. (Christie’s International Real Estate/website)

This five bedroom, eight bathroom home sits on just over three acres of land in the Rideau Forest neighbourhood of Manotick.

“Welcome to one of Ottawa’s most prestigious neighbourhoods, Rideau Forest,” says the listing on Realtor.ca for the 10,000 sq. ft. home.

The “backyard resort” includes an oversized saltwater pool, hot tub, cabana and an outdoor kitchen. In the basement, there is a rec room, great room, gym, game room, golf room, a large customized wet bar and a home theatre.

This home on Queenscourt Crescent in Ottawa’s Rideau Forest neighbourhood is on the market for $4,199,900. (Realtor.ca/website)

This four bedroom, five bathroom home has over 21 acres of forest as the private backyard.  The home is located in Dunrobin, 20 minutes to Kanata.

“This house features open concept modern designs with floor to ceiling windows throughout, customized kitchen & appliances, extra high ceilings, radiant-heated floors and more to explore,” the listing on Realtor.ca says.

“It offers the rooftop terrace, covered patio, balcony, oversized pool & playyard for the outdoor life.”

This home on Torwood Drive in Ottawa’s Dunrobin area has over 21 acres of forest as the private backyard. (Realtor.ca/website)

This four bedroom, four bathroom home overlooking the Ottawa River in Ottawa’s east end is on the market for $3.95 million.

“One acre crown jewel Ottawa Riverfront property located on top of a hill in Cumberland, across from Camelot Golf course,” says the listing on Realtor.ca

The home includes three balconies, access deck, boat dock, shed with a “grandfather clause” and boat house with a boat.

This four bedroom, four bathroom home along the Ottawa River in Cumberland is on the market for $3.950 million. (Realtor.ca/website)

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In Uncertain Times, Vancouver Island’s Real Estate Market Serves Stability

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A real estate investment will always benefit you in the long run, but the hard part of playing the realty game is timing: understanding when to sell and when to buy as markets ebb and flow with the economy. In British Columbia’s real estate market, Vancouver Island makes this a little bit easier.

While the Lower Mainland market has largely been reactive to this year’s numerous (and ongoing) Bank of Canada interest rate hikes, Vancouver Island has remained relatively stable — a few small bumps, rather than a rollercoaster.

“Sales have increased month over month and pricing remains relatively stable, with just a slight dip over this time last month,” says Christine Ryan, Vancouver Island-based Sales Manager at Sotheby’s International Realty Canada. “This would indicate that the rate hike has contributed to slight pricing adjustments, but has had no effect on the purchasing activity of buyers.”

Meanwhile, over in Metro Vancouver, residential sales increased by about 12.8% from September to October, according to the latest statistics by the Real Estate Board of Greater Vancouver (REBGV), but were actually down 45.5% compared to October 2021, and down 33.3% compared to the October average of the past 10 years.

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Ryan says that after a relatively quiet summer and early fall season, the sales activity the Vancouver Island real estate market is currently experiencing indicates that prices are more or less an accurate reflection of market conditions, and that “buyers are responding favourably.”

“Sales are up overall 17% over the previous month in Greater Victoria, with a 3% increase elsewhere on the Island,” Ryan says — and that’s often the case on the Island this time of year.

A quantitative way to identify which way a real estate market is leaning is to look at the sales-to-active-listings ratio (SAR), dividing the number of sales by the total amount of active listings. A ratio of under 12% is usually defined as buyers market, a ratio over 20% generally indicates a lean towards sellers, and anything in between shows balance in the market. According to the Vancouver Island Real Estate Board‘s statistics, October registered 249 sales and the amount of active listings hit 1,360, giving us a ratio of 18.3% that indicates a healthy balance.

“We typically have a relatively healthy fall market on the Island. Our temperate climate attracts snowbirds who tend to travel west and property shop in the fall. I would suspect that the desire to be settled in a new home for Christmas and the New Year is a driver for this seasonal increase in market activity. Clearly, motivated sellers and motivated buyers are coming together to strike a deal with the guidance of their respective realtors.”

As Ryan has previously said, Vancouver Island is blessed with one of the most stable real estate markets in Canada, and that stability becomes even more appealing when the surrounding markets are in a constant state of flux and uncertainty. Extreme highs can be fun, but that can often mean extreme lows are possible too.

Sometimes, there’s nothing better than stability and reliability.


This article was produced in partnership with STOREYS Custom Studio.

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Big White real estate values have spiked despite a slowdown in sales, report says

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Prices for vacation homes at Big White exploded this year despite a slowdown in sales, according to the Royal LePage Winter Recreational Property Report released Tuesday.

The Royal LePage report indicates that the median price of a single-family detached home in Big White’s recreational property market for the first 10 months of the year increased 45.5 per cent year-over-year to $1,600,000, while the median price of a condominium increased 11.1 per cent to $500,000.

A house or condominium slope-side or at mountain base prices typically starts at $900,000 and $400,000, respectively.

That price jump for single-family detached home is the biggest in the province. In contrast, Sun Peaks saw a 13-per cent increase, Revelstoke saw a 13.3-per cent increase and Whistler saw a 14.9-per cent increase.

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Royal LePage expects the upward price trajectory will continue into 2023 and estimates a rise by another seven per cent.

Despite the rising cost of a resort area home, total sales were down 33 per cent year-over-year in the region,

“Transactions at the upper end of the market are largely responsible for the dramatic price increases in the single-family segment, as Big White continues to attract luxury recreational property buyers,” Andrew Braff, sales representative, Royal LePage Kelowna said in a press release.

“However, demand has slowed over the last year as buyers adjust to the rising interest rate environment and sellers feel less urgency to list their properties.

“As activity moderates, we are seeing fewer multiple-offer scenarios compared to last year.”

Braff noted that luxury property owners are less impacted by changes in the market, and are more likely to keep their properties in the family long term, for several generations to enjoy.

In addition to local buyers, the world-renowned ski region attracts demand from across the border and around the globe. However, pandemic travel restrictions over the last two years have forced some international homeowners to visit their recreational properties less frequently.

Thirty-two per cent of U.S. citizens living in border states who currently own a recreational property in Canada have purchased a home in British Columbia. Of those who plan to purchase recreational property in Canada, 33 per cent say they intend to purchase in the province.

Big White is not the only resort seeing this kind of real estate increase.

Canada-wide popular ski regions have posted double-digit year-over-year home price appreciation since the beginning of 2022, despite rising interest rates and price declines in the residential market. Nationally, in the first 10 months of the year, the median price of a single-family detached home increased 15.1 per cent year-over-year to $1,042,700.

All recreational regions surveyed recorded double-digit declines in the number of homes sold during the first 10 months of 2022, compared to the same period last year, when demand for properties reached historical highs.

Royal LePage recreational property market experts across the country report more balanced conditions and an increase in inventory, compared to 2021.

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How much are real estate prices going to drop in the GTA?

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The average price of a house is forecasted to drop by nearly 12 per cent in the Greater Toronto Area (GTA) next year.

According to Re/Max Canada’s housing market outlook for 2023, the GTA’s currently balanced market is expected to continue next year.

As per the report, house prices rose 11 per cent from $1,086,155 last year to $1,203,916. But for 2023, average residential sale prices are expected to drop 11.8 per cent to about $1,061,854, which is a roughly $142,000 price difference.

As prices start to decrease, Re/Max says there will be three main trends that will carry on into the new year.

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“Continued interest rate increases and associated price adjustments, rising unemployment due to an economic slowdown, and new opportunities to engage in the market for buyers and sellers because of improved affordability,” Re/Max Realtron Realty broker, Cameron Forbes, said

This could be good for prospective homebuyers, as Forbes says there will be fewer competitors to deal with, reduced prices and more options to choose from on the market.

“Meanwhile, sellers will have a trade-up advantage, reduced competition of listings, a stronger ability to re-locate to the suburbs, and have all of the advantages that buyers do, too,” Forbes said.

Currently, the most desirable neighbourhoods are based on location, affordability, and access to transit.

The continued rising interest rates, however, will still make it a slower real estate market for all in the GTA. Re/Max notes this will particularly impact first-time homebuyers, as many choose to put their dreams of owning real estate on the back burner due to a lack of affordability.

Toronto’s luxury real estate market is also expected to continue to cool down next year due to economic pressures.

“It’s important to also consider some key context for the GTA. The pandemic between Spring 2020 and early 2022 were outliers in terms of pricing and demand, and factoring out those years in assessing what lies ahead for the region is important as we slowly tilt back to a post-pandemic recovery,” Re/Max Canada President, Christopher Alexander, said in the report.

“This moderating market is an opportunity for homebuyers to take the time to consider their needs, assess opportunities patiently and ultimately make a wise purchasing decision and investment in the long run.”

On top of the GTA, Durham region, London, Kitchener-Waterloo, Barrie and the Georgian Bay area are expected to see average house prices decline between two to 15 per cent next year.

Hamilton, Burlington, Oakville, Brampton, Mississauga, Niagara, and Peterborough are among some of the regions where sale prices will actually increase between two to eight percent in 2023.

“Hamilton-Burlington, Brampton, Mississauga and Niagara are buyer’s markets, while Sudbury, Muskoka, Durham York Region, Haliburton, Ottawa and Peterborough and the Kawarthas favour sellers,” the outlook report reads.

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