Hello March! As we start heading into the spring market, inventory will likely increase and hopefully provide more opportunities to buyers – especially for those in the market for a condo under 500k. Prices will continue to remain high and interest rates will remain the same for the foreseeable future. The only area where prices are not as competitive seem to be high rise condos in the downtown area. It could be because many have high condo fees that cost well into the 600’s/month... [read more]

  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]

  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]

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]

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]