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January 2023 Ottawa Real Estate Market Update: Resale Market Starts Slow as Buyers Remain Cautious
[embed]https://youtu.be/SHbrT6Q0GQA[/embed] Ottawa Real Estate Market Update, January 2023 Bidding wars are back? Not on every property, but some However, I have seen that winning bids have conditions which protect the buyers. My prediction for next month is that the amount of inventory will start to increase. Prices are going to level out somewhere ...
Continue ReadingOttawa’s NEW Vacant Unit Tax, What is it & What do YOU have to do…
The City of Ottawa has recently implemented a Vacant Unit Tax (VUT), which requires homeowners to declare their occupancy status for 2022 by March 16, 2023. This new tax is meant to encourage owners of vacant rental units to make them available for rent to help alleviate the housing crisis in ...
Continue ReadingThe winning Ottawa community that saw the largest price increase over the 2022 year was…
The winning community that saw the largest price increase over the 2022 year was… 1. Carp at 14.6% 2. Carleton Place / Perth 13.8 % 3. Rockland / Casselman 12.1% 4. Almonte 9.1% Tied for 5th place at 7.5% Kemptville Winchester Orleans 6.Westport 7.3% 7.Kanata / Barrhaven 6.4% Another tie at 8th place with 5.7% Downtown Core Arnprior 9. Metcalfe 3.6% 10. Richmond ...
Continue ReadingOttawa Real Estate Market Update: Quiet December Caps Off Tumultuous Year
PRICES: Residential Prices ⬇️ 7% from last year Condominium Prices ⬆️9 % from last year SUPPLY is ⬆️ 699 new listings came to market this past month. We usually see around 662 in December. DEMAND is ⬇️ 601 properties sold over the last month. Typically we see 775 in December. ABSORPTION RATE (Supply vs Demand) How quickly are ...
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