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 2021 was unusual. We are moving towards a balanced market state, where Buyers have choices and Sellers need to ensure they are pricing their properties accurately,” states OREB President Penny Torontow.
Now is the BEST time to work with a Ottawa realtor as we know the day-to-day variabilities Ottawa’s resale market is currently experiencing. Contact Ottawa’s Best Real Estate Agents Brooke & Jenna if you have any questions or for a free comprehensive comparative market analysis. We are always happy to help!
Source: Ottawa Real Estate Board, www.oreb.ca
Here is a breakdown of August 2022 Ottawa Real Estate Market Numbers: