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Ottawa’s Real Estate Resale Market Stabilizes in February!

855 residential properties were sold in the month of February compared to 1,411 sold in February 2022.That’s a decrease of 39%. “We’re going to see declines in transactions and prices when we compare current figures to last February — the height of the pandemic resale market activity,” says Ottawa Real Estate Board’s President Ken Dekker. […]

Ottawa Real Estate Market Off To a Slow January?

606 residential properties were sold in the month of January compared to 933 sold in January 2022.That’s a decrease of 35%. “Ottawa’s inventory and days on market figures are typical for a balanced market and another sign that buyers are no longer racing to put in an offer,” says Ken Dekker, President. “The increase in […]

Ottawa’s Real Estate Market Stats for a Quiet December 2022

601 residential properties were sold in the month of November, compared to 857 sold in December 2021.That’s a decrease of 30%. “Even with the normal seasonal slowdown, December’s performance was in stark contrast to the very active resale market that opened 2022,” says Ken Dekker, OREB’s newly installed 2023 President. “As interest rates and inflation […]

Ottawa’s November Real Estate Market Re-Sale Stats are LOW!

846 residential properties were sold in the month of November, compared to 1,456 sold in November 2021.That’s a decrease of 42%. “November’s sales were expectedly low given the typical slowdown this time of year but they also reflect today’s economic conditions,” says Penny Torontow, OREB’s 2022 President. “This is not isolated to our local market. Globally, […]

Ottawa’s Real Estate Resale Market Continues to Adjust

987 residential properties were sold in the month of October, compared to 1,670 sold in October 2021.That’s a decrease of 41%. “After the volatility of the past two pandemic years, which was unsustainable, the market is correcting and adjusting,” says Penny Torontow, Ottawa Real Estate Board President. “The slowdown is compounded by Bank of Canada […]

Is the Ottawa Real Estate Market Continuing to Slow Down?!

1,080 residential properties were sold in the month of September, compared to 1,601 sold in September 2021.That’s a decrease of 33%. “September’s lower sales performance reflects continued hesitancy among Buyers as they watch interest rates rise and consider the speculation surrounding price trends. With rising interest rates, the mortgage stress test has sidelined some potential […]

Is Buyer Uncertainty Slowing Down The Ottawa Real Estate Market Resales?

1,137 residential properties were sold in the month of August, compared to 1,565 sold in August 2021.That’s a decrease of 27%. “Prices are still rising slightly in some areas, albeit lower single-digit percentage increases, bringing back the moderate price-growth stability that is characteristic of the Ottawa resale market. What happened to prices in 2020 and […]

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 […]

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 […]

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 […]