December 2021 – Ottawa Real Estate Board

Ottawa REALTORS® Give $106,952 to Shelter-Related Charities

Members of the Ottawa Real Estate Board (OREB) raised nearly $107,000 for the Ontario REALTORS Care® Foundation (ORCF) in 2021 and provided grants to 21 shelter-related charities in Ottawa and the surrounding areas.

OREB Members contributed the entirety of the grant funding through the Board’s “$2 per member per month” campaign since OREB’s Annual Charity Golf Tournament was again cancelled this year due to the pandemic.

“We are so thrilled to be able to assist these amazing charities in the work they do for our society’s most vulnerable,” states OREB’s 2021 REALTORS Care® Committee Chair Tony McDermott. “Our humblest appreciation goes out to these unsung heroes who have made it their mission to serve those that need a helping hand, and we are truly grateful for their dedication and perseverance, especially during these challenging pandemic times.”

The 21 charities endorsed by our Members support local area residents who may not have adequate shelter along with those who may be dealing with homelessness, addiction, mental or physical illness, spousal or familial abuse, physical disability, poverty, or ageing.

The 2021 Ottawa-area grant recipients are:

·       Ancoura
·       Big Brothers Big Sisters of Lanark County
·       Bruce House
·       Eastern Ottawa Resource Centre
·       Habitat for Humanity Greater Ottawa
·       Helping With Furniture
·       Hospice Care Ottawa
·       Jericho Road Christian Ministries
·       Lanark Highlands Youth Centre
·       Maison d’amitie
·       Nelson House
·       Options Bytown
·       Orleans Cumberland Community Resource Centre
·       Ottawa-Carleton Association for Persons with Developmental
Disabilities
·       Ottawa Rotary Home Foundation
·       Restoring Hope Ministries
·       Serenity Renewal for Families
·       Shepherds of Good Hope
·       St. Mary’s Home
·       The Table
·       Youth Services Bureau

“Many of our REALTOR® Members are committed to volunteering for the charities closest to their hearts and can often be found behind the scenes giving generously of their time, energy, and earnings to local charitable organizations,” shares Penny Torontow, Ottawa Real Estate Board’s 2022 President. “I have been volunteering from a very young age, and I believe it is our responsibility to support the communities in which we work and live.”

The Ontario REALTORS Care® Foundation (ORCF) is operated by the Ontario Real Estate Association (OREA) and provides grants to Ontario shelter-related charities. The REALTORS Care® Foundation is supported by Ontario Real Estate Boards and Associations and their REALTOR® Members.

Ottawa Real Estate Board’s 2022 President and Board of Directors

On December 2, 2021, Members of the Ottawa Real Estate Board elected a new Board of Directors for the upcoming year. The new Board will be comprised of 2022 President Penny Torontow, Past President Debra Wright, President-Elect Ken Dekker, and Vice-President Curtis Fillier. Joining them are Directors Chris A. Brown, Paul Czan, Tami Eades, Eric Kalbfleisch, Michael Lewicki, Tony McDermott, Jake Prescott, Brandon Reay, and Ralph Shaw.

OTTAWA – On December 2, 2021, Members of the Ottawa Real Estate Board (OREB) elected a new Board of Directors for the upcoming year. The Ottawa Real Estate Board is the city’s largest trade association with over 3,700 sales representatives and brokers in the Ottawa area.

The new Board will be comprised of 2022 President Penny Torontow, Past President Debra Wright, President-Elect Ken Dekker, and Vice-President Curtis Fillier. Joining them are Directors Chris A. Brown, Paul Czan, Tami Eades, Eric Kalbfleisch, Michael Lewicki, Tony McDermott, Jake Prescott, Brandon Reay, and Ralph Shaw.

“It is both an honour and a privilege to serve as the 2022 President of the Ottawa Real Estate Board. I look forward to continuing the important advocacy work on behalf of our 3,700+ REALTOR® Members and their clients to increase housing supply and ensuring affordability and sustainability remains top of mind with our elected officials,” states Penny Torontow, President of the Ottawa Real Estate Board.”

Penny has been in the real estate field for almost 30 years, starting her career selling new homes and now approaching 20 years as a REALTOR®. This upcoming year will represent her fifth year on the Board of Directors. She has been actively volunteering on OREB’s committees and task forces since 2010 and as an Orientation Instructor since 2013.

For many years, Penny sat on the Registered Insurance Brokers of Ontario Discipline and Complaints Committee. In addition, she has been very active in her community from early on in her life, sitting on various Boards, including the Jewish Community Centre and Director on the Hillel Lodge Foundation.

“As I think back over the past 20 or so years since I became a REALTOR®, I realize how much this industry has helped me grow as a person and as a businesswoman. I feel it is my duty to give back to an industry that has given me so much. I am honoured to follow the esteemed lineup of past presidents who have offered their guidance to the Board, and I am excited to support our Membership in the Ottawa Real Estate Board’s 101^st year,” concludes Torontow.

Ottawa Real Estate Board
2022 President Penny Torontow

Back row: Paul Czan, Michael Lewicki, Brandon Reay, Eric Kalbfleisch
Middle row: Chris Brown, Tami Eades, Ralph Shaw, Jake Prescott, Tony McDermott
Front row: Curtis Fillier, Debra Wright, Penny Torontow, Ken Dekker

November’s Brisk Resale Market

Members of the Ottawa Real Estate Board sold 1,459 residential properties in November through the Board’s Multiple Listing Service® System, compared with 1,605 in November 2020, a decrease of 9 per cent. November’s sales included 1,086 in the residential-property class, down 10 per cent from a year ago, and 373 in the condominium-property category, a decrease of 7 per cent from November 2020. The five-year average for total unit sales in November is 1,348.

“Although the resale transactions in November were down compared to a year ago, this is because 2020’s peak market activity shifted to later in the year due to the initial pandemic lockdown. In reality, November’s unit sales tracked 14% higher than 2019 (1,284), a more relevant base year for comparison,” states Ottawa Real Estate Board President Debra Wright.

“Furthermore, the number of properties that changed hands in November was 8% higher than the five-year average. And we also see an 8% increase in year-to-date sales over 2020, so it is fair to say that the resale market remains active and brisk.”

The average sale price for a condominium-class property in November was $432,099, an increase of 19 per cent from 2020, and the average sale price for a residential-class property was $716,992, also increasing 19 per cent from a year ago.With year-to-date average sale prices at $719,956 for residential and $420,762 for condominiums, these values represent a 24 per cent and 16 percent increase over 2020, respectively.*

“Despite significant increases in average prices over November 2020, month-to-month price accelerations have tapered off slightly, with average prices for residential units on par with October’s and condo average prices increasing by 7%. This is a far better situation than the monthly price escalations we had seen in the first quarter of 2021,” suggests Wright. “However, there is no question that supply constraints will continue to place upward pressure on prices until that is remedied.”

“While the drop in volume of new listings is typical for November, our inventory, at one month’s supply, is much lower than it should be. 1,430 new listings entered the market last month, a 27% decrease from October (1,960) and 13% less than last November (1,635). While still 30 or so units over the five-year listing average, this is simply not sustainable and is taking us further away from the balanced market that will bring much-needed relief to potential Buyers,” Wright cautions.

“Whether you are on the buying or selling side of the transaction, this is not the occasion to go at it alone and hope for the best. An experienced REALTOR® is vital in navigating the challenges of this complex market to ensure you are making the optimal choices for what may be the most critical contract you will sign and remain obligated to for the next 20 to 30 years.”

OREB Members also assisted clients with renting 4,458 properties since the beginning of the year compared to 3,120 at this time last year.

* OREB cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price will vary from neighbourhood to neighbourhood.