Ottawa Real Estate Stats May 2022

Thursday Jun 16th, 2022

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Members of the Ottawa Real Estate Board sold 1,846 residential properties in May through the Board’s Multiple Listing Service® System, compared with 2,285 in May 2021, a decrease of 19 per cent. May’s sales included 1,384 in the residential-property class, down 22 per cent from a year ago, and 462 in the condominium-property category, a decrease of 11 per cent from May 2021. The five-year average for total unit sales in May is 2,031. The average sale price for a... [read more]

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]

May 2022 Real Estate Newsletter

Thursday Jun 16th, 2022

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  The average house prices continue to remain strong and overall, we are still in a seller’s market. Its not a crazy as it was in the earlier part of the year however, most homes are still getting 100k-200k or more over list price. I have noticed more sales of high-rise condos in Centertown and Westboro, many of which are getting over asking price. Days on market have also gone down to a few days or a week in many cases. New home construction continues to be challenging with... [read more]

Ottawa Real Estate Stats March 2022

Monday Apr 11th, 2022

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Members of the Ottawa Real Estate Board sold 2,011 residential properties in March through the Board’s Multiple Listing Service® System, compared with 2,274 in March 2021, a decrease of 12 per cent. March’s sales included 1,493 in the residential-property class, down 12 per cent from a year ago, and 518 in the condominium-property category, a decrease of 10 per cent from March 2021. The five-year average for total unit sales in March is 1,792. 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]

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