Slow and Steady! The market is picking up in some pockets of the city. In my opinion, I think we have hit the bottom in terms of prices, and it looks like we are starting to see prices heading upwards. It’s slow and gradually moving as buyers are getting back into the market. Interest rates are staying put for now and we will hopefully not see any further rate hikes for the rest of the year. On March 27th, CMHC announced they have made a few amendments to the foreign buyer ban which... [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]

  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]

  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]

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]