June 2022 Real Estate Newsletter

Thursday Jun 16th, 2022

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  The month of May has brought more inventory throughout and what appears to be a cool down in the market. I’m noticing a lot more pre-emptive offer options and less offer hold outs than ever before. Prices remain strong with townhouses selling in the 700’s and detached homes well into the Millions. Interest rates have increased significantly, which may have played a role in the market cooling down. Current mortgage fixed rates are around 3.5-3.6% while a variable will... [read more]

Ottawa Real Estate Stats April 2022

Thursday Jun 16th, 2022

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Members of the Ottawa Real Estate Board sold 1,889 residential properties in April through the Board’s Multiple Listing Service® System, compared with 2,394 in April 2021, a decrease of 21 per cent. April’s sales included 1,419 in the residential-property class, down 23 per cent from a year ago, and 470 in the condominium-property category, a decrease of 13 per cent from April 2021. The five-year average for total unit sales in April is 1,849. The average sale price for a... [read more]

April 2022 Real Estate Newsletter

Monday Apr 11th, 2022

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  We are officially in the spring market! As I predicted in the past, the downtown condo market has started to pick up. I have noticed more high-rise condos selling over list price in the past few weeks. I’m expecting that this trend will continue into the summer. Single homes in the 800k and higher price point seem to have slowed down in sales, many not receiving any offers on presentation day and remaining on the market for a few weeks. The townhouse market remains strong, and... [read more]

February 2022 Real Estate Newsletter

Tuesday Feb 8th, 2022

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Home prices soar to new levels! January started off with a bang as home prices skyrocketed and total number of sales went up compared to December of last year. I’m mostly surprised with the condo market in the suburbs as many have sold in the mid 400-500k range, which is making it very challenging for first time home buyers. The housing crisis continues across Ottawa with a lack of inventory in both resale and new construction with high demand, and low interest rates. I predict more and... [read more]

October 2021 Real Estate Newsletter

Wednesday Oct 6th, 2021

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Goodbye September, Hello October! Thanksgiving is just around the corner; the leaves are changing colour and the temperatures are much cooler at night - Kind of refreshing if you ask me. So how is the real estate market doing now? Prices are still strong in the country markets, towns in the suburbs are not as competitive, but overall, it’s still a great time to buy. Selling on the other hand, is not as hot as it once was earlier this year. It does tend to take a little longer to sell a... [read more]

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