Members of the Ottawa Real Estate Board (OREB) sold 1,194 residential properties in March through the Board’s Multiple Listing Service® (MLS®) System, compared with 2,003 in March 2022, a decrease of 40%. March’s sales included 893 in the freehold-property class, down 40% from a year ago, and 301 in the condominium-property category, a decrease of 42% from March 2022. March sales transactions increased 40% over February. The five-year average for total unit sales in March is... [read more]

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]

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]