Members of the Ottawa Real Estate Board (OREB) sold 855 residential properties in February through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,411 in February 2022, a decrease of 39%. February’s sales included 633 in the freehold-property class, down 42% from a year ago, and 222 in the condominium-property category, a decrease of 31% from February 2022. The five-year average for total unit sales in February is 1,157. The average sale price for... [read more]

The Ottawa Real Estate market seems to be in a holding pattern. Inventory remains roughly the same as the previous month and buyers are waiting for rates to drop – which will not happen for the foreseeable future. New construction builders have slashed their prices – $100,000 off the list price in many cases!! – They are offering several incentives to get the inventory sold. If you are a buyer who is on the fence, you should be taking advantage of the current market.... [read more]

Members of the Ottawa Real Estate Board (OREB) sold 606 residential properties in January through the Board’s Multiple Listing Service® (MLS®) System, compared with 933 in January 2022, a decrease of 35%. January’s sales included 460 in the freehold-property class, down 30% from a year ago, and 146 in the condominium-property category, a decrease of 47% from January 2022. The five-year average for total unit sales in January is 819. The average sale price for a... [read more]

  The Ottawa Real Estate Market continues to slow down as we enter a “balanced” market. I have noticed a large amount of rental listings on the market. The new vacant unit tax has forced owners of vacant properties to rush to get their units leased before the deadline. Will people lean towards a lease or purchase a home with a high interest mortgage? The average townhouse in the suburb’s rents for approximately $2200-$2400 a month. If you were to purchase that... [read more]

Members of the Ottawa Real Estate Board (OREB) sold 601 residential properties in December through the Board’s Multiple Listing Service® (MLS®) System, compared with 857 in December 2021, a decrease of 30%. December’s sales included 466 in the residential-property class, down 22% from a year ago, and 135 in the condominium-property category, a decrease of 48% from December 2021. The five-year average for total unit sales in December is 775. The average sale price for a... [read more]