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 slower months. With the macro factors that are currently at play in the resale market, it is difficult to predict what the effects will be going forward. We are entering yet another pandemic wave, Buyers are fatigued, parents are focusing on remote learning, interest rate hikes are looming – I don’t expect we will see the first quarter increases as we did in 2021” suggests Ottawa Real Estate Board’s new 2022 President Penny Torontow.
With the low inventory, 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 December 2021’s Ottawa Real Estate Market Numbers: