Ottawa Real Estate Market Snapshot November 2022
The November 2022 Ottawa Real Estate Board Stats are out! Market Snapshot: Ottawa sales continued to slow in November, a reflection of what’s happening across the country. The post-pandemic economy as well as a natural cooling for the time of year have officially balanced the market.
Ottawa Real Estate Market Snapshot October 2022
The October 2022 Ottawa Real Estate Board stats are out! “After the volatility of the past two pandemic years, which was unsustainable, the market is correcting and adjusting. Demand is still high, and with increasing inventory available, Buyers have more choices and time to shop for their new home.” – Ottawa Real Estate Board President
Royal LePage’s Q3 2022 Home Price Update and Market Forecast
“Despite softening home prices over the summer, Ottawa’s fall real estate market is trending towards more stable conditions as new inventory becomes available. We continue to see strong buyer demand in the region – even if lower than last year’s historical highs – and not enough supply to fully shift to a balanced market,” said Jason Ralph, broker of record, Royal LePage Team Realty. “Despite rising interest rates, many buyers are still keen to make a purchase this year. And, without a significant boost in inventory, it is unlikely we will see a full return to a balanced market.”
Ottawa Real Estate Market Snapshot September 2022
The September 2022 Ottawa Real Estate Board stats are out! “We have seen an uptick in the number of new listings entering the market, which were not only higher than last month but also last year, and the five-year average. This trend continues to bring the resale market into more balance, which generally means more time for Buyers and Sellers to weigh their options and to adjust according to their needs,” – Ottawa Real Estate Board President
Ottawa Real Estate Market Snapshot August 2022
The August 2022 Ottawa Real Estate Board stats are out! “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. We are moving towards a balanced market state, where Buyers have choices and Sellers need to ensure they are pricing their properties accurately,” – Ottawa Real Estate Board President.
Ottawa Real Estate Market Snapshot July 2022
The July 2022 Ottawa Real Estate Board stats are out! “..with more properties continually being added to inventory, we are on the cusp of returning to a balanced market, and that is good news.” – Ottawa Real Estate Board President
How to keep your home safe while away on vacation
Whether you’re planning a brief getaway or spending the winter months down south, it’s important to take precautions to keep your home safe while you’re away. There are many simple things you can do to deter break-ins, minimize risk of damage and ensure your peace of mind when no one is home. Consider […]
Royal LePage lowers 2022 national home price forecast to 5% to reflect softening markets in Ontario and B.C.
Royal LePage is forecasting that the aggregate price of a home in Canada will increase 5% in the fourth quarter of 2022, compared to the same quarter last year. The forecast has been revised downward from the previous quarter following more aggressive than expected interest rate hikes by the Bank of Canada, resulting in an expected temporary drop in demand in parts of southern Ontario and British Columbia.
Ottawa Real Estate Market Snapshot June 2022
The June 2022 Ottawa Real Estate Board stats are out! “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.” – Ottawa Real Estate Board President
Ottawa Real Estate Market Snapshot May 2022
The May 2022 Ottawa Real Estate Board stats are out! Traditionally a high performing month, May’s resale market has shifted its pace in comparison to 2021. The aftermath of the recent derecho storm stirred up both Ottawa’s landscape and listing inventory.