The Ottawa real estate market is still hot. The October 2021 numbers are out and are showing us that there's a continued appetite for both freehold and condominium properties in Ottawa. In October 2021, there were 1,677 properties sold via the MLS this figure is down 21% from October 2020 when we saw 2,132 property sales.
Buyers are often competing to secure properties while sellers are trying to maximize their net earnings by listing and selling for as high as they can. The question I often get...
The average condo price in Ottawa in June 2021 was $435,198 an increase of 21 perfect of June of last year. The freehold residential average in June on the other hand was $725,970 an increase of 26% over last year.
There is a $290,772 difference in the average of condos and freehold residential properties. While we are seeing builders continue to build out residential condo units in our City we tend to see more apartment-style condos being built. Few rowhouses or townhouse-style condos are being...
Ottawa's Centre Town neighbourhood was sitting with 3 months of inventory in 2020 from October to December. Many owners of condos in the Centre Town MLS district of Ottawa decided to change their living accommodation. Many had chosen to put their condo property up for sale and seek a larger property which sometimes included increased outdoor space or more space within their home to allow for them to work from home which seems to have become the new norm.
Many employers have come out publicly c...
Real estate prices in Ottawa seem to be steadily increasing and bidding wars on properties listed for sale are still common in most areas and neighbourhoods of Ottawa.
Although the residential resale market in Ottawa is in a sellers’ market, where buyers are bidding against themselves, to secure their home, the residential rental market in Ottawa on the other hand is showing signs of slowing down.
As a matter of fact, inventory of rental properties available for rent in Ottawa on the MLS has see...
Yes, 2020 was a chaotic year leaving us with many questions on so many levels. Due to COVID Many have lost their lives, lost jobs, lost their businesses due to closures, it has been terrible for so many around the world. Ottawa's real estate market is one that has seen very fast growth.
With this, we saw many buyers competing against other buyers in multiple offer situations. The winner would many times need to pay a price higher than the original asking price and include no conditions in their...
Yes, 2020 was a chaotic year leaving us with many questions on so many levels. Due to COVID Many have lost their lives, lost jobs, lost their businesses due to closures, it has been terrible for so many around the world. Ottawa's real estate market is one that has seen very fast growth. In September 2020 Ottawa saw a total of 46% more sales than in 2019. Homes were selling and they were selling quickly. Ottawa was clearly in a seller's market with many buyers having to compete against other buye...
The Ottawa real estate market has been hot ever since the COVID pandemic made its appearance. Despite the many job losses, business closures and many uncertainties about the real estate and financial market Ottawa's real estate is increasing in price.
Since April Ottawa has been seeing increases in sales compared to the previous year. In fact, Ottawa saw an 11% increase in home sales from 2019 to 2020. This can be attributed to many factors including the desire of many to find larger spaces. Wi...
