Blog - Ritchie Twins

Navigating Change: Ottawa’s Real Estate Market Update

809 residential properties were sold in the month of February. This was a 10.2% decrease from February 2024. “Ottawa’s sales activity moderated while prices held steady,” says OREB President Paul Czan. “Despite increased inventory, market uncertainty continues to influence buyer and seller decisions. Some sellers who had previously delayed listing are now entering the market, […]

Real Estate Market Shift in Ottawa: More Homes, Watchful Buyers

617 residential properties were sold in the month of January. This was a 4.2% decrease from January 2024. “Ottawa’s market is seeing increased activity as more listings hit the market and buyers start to re-engage,” says OREB President Paul Czan. “Many buyers and sellers had been waiting for more conducive market conditions, but with the […]

Ottawa’s December Real Estate Market Closes Year with Optimism

613 residential properties were sold in the month of December. This was a 7.9% increase from December 2023.Home sales were 6.8% below the five-year average and 2.7% below the 10-year average for the month of December. “A year of wait-and-see came to a close with the expected slowdown over the holiday season,” says OREB President […]

Ottawa’s Real Estate Market Making Headway

1,059 residential properties were sold in the month of November— a slight dip down from the 1,179 units sold the month previous. Home sales were 3.1% below the five-year average and 0.5% below the 10-year average for the month of November. “Ottawa’s market is making headway on a long road back from the slowdown experienced […]

Ottawa Resale Real Estate Market Sees Cautious Confidence Boost

1,179 residential properties were sold in the month of October. This is a 10.4% increase compared to October 2023. “We’re seeing positive movement in Ottawa’s market with sales activity up,” says OREB President Curtis Fillier. “This is especially interesting because there has been sustained activity throughout the year instead of the typical seasonal spikes and […]

Key Mortgage Changes in Ontario in 2024

Interest Rates are dropping! Are you thinking about Buying or Selling? Here are some key mortgage changes in Ontario in 2024: 30-year amortization for first-time homebuyers of new builds: As of August 1, 2024, first-time homebuyers purchasing new builds can now stretch their mortgage payments over 30 years instead of the standard 25 years. Increased […]

Ottawa’s Real Estate Home Sales Remain Strong Despite Market Changes

1,047 residential properties were sold in the month of September. This is a 11.4% increase compared to September 2023. “As we navigate a shifting housing market, Ottawa’s fall outlook is healthy,” says OREB President Curtis Fillier. “Activity is robust with an uptick in sales and prices remaining steady. Meanwhile, both buyers and sellers are rethinking […]

Ottawa’s Hot Summer Real Estate Market Expected to Extend into Fall

1,100 residential properties were sold in the month of August. This is a 10.2% increase compared to August 2023. “Being a seasonal market, it’s very encouraging to see sustained levels of activity throughout the whole summer,” says OREB President-elect Paul Czan. “And coupled with a third consecutive interest rate drop from the Bank of Canada, […]

Ottawa’s Real Estate Market Gains Momentum Heading into Summer

1,241 residential properties were sold in the month of July. This is a 13.6% increase compared to July 2023. “As the market pace typically slows in the summer, July’s activity is encouraging and could be a sign of more gains ahead,” says OREB President Curtis Fillier. “Buyer confidence is slowly but surely catching up while […]

Ottawa’s Real Estate Market Activity Builds After Recovering from Prior Slowdown

1,439 residential properties were sold in the month of June. This is a 0.1% increase compared to June 2023. “Ottawa continues to see steady activity as we head into the summer market,” says OREB President Curtis Fillier. “Unlike recent years, buyers have more room to wait, evaluate and be selective when searching for the right […]