In this episode of the Property Pulse series, host Dalia Barsoum continues the multi-week tour of Ontario investment markets, focusing on Ottawa, Chatham and Windsor—three markets that have remained popular with real estate investors despite pandemic uncertainty. She is joined by local experts Christina Danby of Keller Williams Integrity Realty, Kelly Appleton of Royal LePage Piper Realty, and Aditya Soma of Wind City Real Estate Team, who share firsthand data on sales volumes, price appreciation, days on market, and shifting demand patterns from April through June 2020.
Discover why Ottawa remains a seller's market with multiple offers and rising prices, how Chatham-Kent surpassed $300,000 average sale prices with strong out-of-area investor interest, and why Windsor is rebounding as remote workers seek affordability. Each expert provides a 60-day outlook for their market. Plus, Dalia closes with a critical financing tip: always verify property zoning directly with the city, because commercial zoning on a residential-looking triplex will trigger commercial financing terms.
In April 2020, Ottawa residential sales dropped 56% year-over-year to 700 transactions, yet average prices still rose 6.8% to approximately $521,694. By May, sales volume was down 42.6% year-over-year but average prices climbed 11.2% to $558,140, with homes selling in an average of 23 days.
Chatham-Kent's average sale price surpassed $300,000 in May 2020, representing a 12.7% year-over-year increase from roughly $267,000 in May 2019. The market remains competitive with multiple offers and properties frequently selling over asking.
Windsor average prices fell to $352,463 in April as listings and sales both dropped over 50%, but rebounded to $384,000 in May as inventory and sales activity recovered. Aditya Soma attributes the region's resilience to its affordability, the work-from-home trend attracting remote workers, and ongoing infrastructure projects.
Dalia advises investors to verify zoning directly with the city rather than relying solely on MLS listings. She explains that if a property is zoned commercial—even if it contains three residential units—lenders will approach financing from a commercial standpoint, which directly impacts loan terms and qualification.
According to Kelly Appleton, quarterly tracking shows approximately 25% to 30% of sales in Chatham-Kent over the last two quarters have come from buyers outside the municipality, many of whom are investors recognizing the area's potential.
