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 as many look towards their summer holidays, last month’s sales were at a slower pace than we have seen in well over a decade,” states Ottawa Real Estate Board President Penny Torontow.
 
Now is the best time to work with a realtor as we know the day-to-day variabilities Ottawa’s resale market is currently experiencing. Contact 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 June 2022 Ottawa Real Estate Market Numbers:

2020

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2016

2015