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 new listings and supply is a boon for home buyers, who now have more selection and the ability to put in conditions at a less frantic pace.”
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 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 January 2023 Ottawa Real Estate Market Numbers: