November 2022 Real Estate Newsletter

Monday Nov 14th, 2022

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October was a slower than usual month for real estate transactions. Most buyers have put their home search on hold and are hoping to see the market crash or low rates to return. In my opinion, the market will not crash, and rates will likely remain high for at least the next 6 months or longer. The advantage of buying in this market is the abundance of inventory to choose from, negotiating power, conditional offers and far less competition from other buyers. Sure, the rates are high today,... [read more]

September 2022 Real Estate Newsletter

Friday Oct 7th, 2022

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The summer is coming to an end and fall is just around the corner! September is a typically a busy month for most people, coming back to town from their summer holidays, the kids going back to school and real estate getting back on track. Most homes on the market are taking longer than previously to sell and bidding wars seem to be non-existent now. Prices haven’t really dropped on average; however, I am seeing some reductions in list prices. Although interest rates are higher, this is... [read more]

October 2022 Real Estate Newsletter

Monday Oct 24th, 2022

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The Ottawa real estate market has flipped over to a full-on buyer’s market! The median list-to-sale price ratio was approximately 92% for the month of September. This means many homes in the city are selling below the list price and in many cases with a conditional offer – which was next to impossible in the earlier part of this year. Interest rates remain high and are predicted to rise again before the year ends. New construction sales have also changed drastically with most... [read more]

Ottawa Real Estate Stats August 2022

Friday Oct 7th, 2022

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Members of the Ottawa Real Estate Board sold 1,137 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,565 in August 2021, a decrease of 27 per cent. August’s sales included 850 in the residential-property class, down 27 per cent from a year ago, and 287 in the condominium-property category, a decrease of 28 per cent from August 2021. The five-year average for total unit sales in August is 1,603. The average sale price for... [read more]

Ottawa Real Estate Stats June 2022

Monday Jul 11th, 2022

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Members of the Ottawa Real Estate Board sold 1,508 residential properties in June through the Board’s Multiple Listing Service® System, compared with 2,122 in June 2021, a decrease of 29 per cent. June’s sales included 1,138 in the residential-property class, down 31 per cent from a year ago, and 370 in the condominium-property category, a decrease of 23 per cent from June 2021. The five-year average for total unit sales in June is 1,966. The average sale price for a... [read more]

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