Is The Ottawa Real Estate Market Slowing Down?
1,110 residential properties were sold in the month of July, compared to 1,718 sold in July 2021.That’s a decrease of 35%. “We are witnessing a profound slowdown in Ottawa’s resale market. July’s numbers reveal that Buyers are indeed putting on the brakes more heavily than what is typically expected during the mid-summer sales dip. Aggressive […]Read more
Is Ottawa’s Real Estate Market Shifting?
1,508 residential properties were sold in the month of June, compared to 2,122 sold in June 2021.That’s a decrease of 29%. “After the frenzy of the past two years, we are witnessing Ottawa’s resale market normalize in 2022 and shift towards the more traditional seasonal ebb and flow cycle. While June transactions do typically taper […]Read more
Ottawa’s May 2022 Real Estate Market Stats Are In!
1,846 residential properties were sold in the month of April, compared to 2,285 sold in May 2021.That’s a decrease of 19%. “Average prices, while still higher than 2021, are showing signs of adjusting to the pace of the market with a month-over-month decrease of 2% in both property classes. In April, we also saw […]Read more
Ottawa’s April Real Estate Market Stats Are In!
1,889 residential properties were sold in the month of April, compared to 2,394 sold in April 2021.That’s a decrease of 21%. “Certainly, there are a few factors at play: rising interest rates, growing Buyer frustration, April’s cooler temperatures, as well as the housing supply measures recently announced by the government – these could all […]Read more
Ottawa’s Spring Real Estate Market Is Officially in Bloom!
2,011 residential properties were sold in the month of March, compared to 2,274 sold in March 2021.That’s a decrease of 12%. “Although the number of sales in March decreased from last year at this time, it was still a robust and busy start to the spring season. Transactions increased 42% over February (590 units) […]Read more
Early Spring Market in Ottawa Real Estate?
1,421 residential properties were sold in the month of February, compared to 1,385 sold in February 2021.That’s a increase of 3%. ““Although February’s resales were only 3% higher than last year at this time, we saw a 52% increase in the number of transactions compared to January’s figures (936). While a month-to-month increase is […]Read more
Ottawa’s 2022 Real Estate Market Is Off To A Strong Start!
Ottawa’s 2022 Real Estate Market is starting off this year very strong! 936 residential properties were sold in the month of January, compared to 963 sold in January 2021.That’s a decrease of 3%. “January’s sales, almost identical to 2021’s, were very strong for a traditionally slower month, especially given the frigid temperatures and […]Read more
New Year, New Home?!
As 2021 wrapped up, the Ottawa Real Estate Market sure had some up’s & downs. 862 residential homes were sold in the month of December, compared to 997 sold in December 2020.That’s a decrease of 14%. What will the Ottawa Real Estate market look like in 2022 you might ask? “January through March are usually […]Read more
Ottawa Market Update: May 2021
It’s been a wild year with Covid-19 and lockdowns & you’re probably wondering how this is STILL impacting Ottawa’s Real Estate Market today? Ottawa Real Estate Board President, Debra Wright states that “Although Ontario was in a lockdown in both May 2020 and May 2021, the impact they had on Ottawa’s resale market was quite […]Read more
Market Update: Stress Test
As some of you might be aware, Canada’s Top Banking Regulator is proposing to raise the mortgage stress test level to 5.25 % or two percentage points above the market rate- (whichever is higher). Currently, the stress test is at 4.79 %. So you’re probably wondering…How does this affect me when buying, selling, or investing […]Read more