January, Ottawa Has Only 958 Homes & Condos Available for Sale

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 offer.

inventory active monthly ottawa

The table above shows the gradual decrease in residential property inventory in the City of Ottawa over the last 5 years. In 2016 Ottawa had a monthly inventory count averaging at 13,450. This is much higher than 3,540 properties available for rent or purchase in December 2020. 

Decline in Active listings in Ottawa

The above graphic shows the continuous decline of active home inventory in Ottawa during the last 5 years.

As I write this article on January 3rd, 2020 there are only 958 condos and homes available for sale on the Ottawa real estate market. There is an additional 656 rentals available. This makes the total number of residential properties in Ottawa 1,605. This is what we call a low inventory of homes!

Please know that every neighbourhood is different so are every property types. If you own a condo or home in the City and are considering selling or if you are a buyer and want to discuss specific real estate goals text or call me at 613-889-7732 I'd love to discuss your family's needs.

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