As of June 7th, 2023, the prime rate has increased by another 0.25% for the second time this year. We know the rate went up 7 times last year, and each time, house prices went down along with affordability. It will be another week or two until we see the ...
Continue ReadingOttawa Market Data, The Numbers Price Residential Prices ⬇️ 10% from last year Average Price: $747,123 Condominium Prices ⬇️8% from last year Average Price: $435,875 ⬆️14% since December 2022 ⬆️5% Freehold and 4% Condo increase since March 2023 Supply Total Inventory – ⬆️ & ⬇️ April 2022 – 2843 properties ...
Continue ReadingOTTAWA, April 4, 2023 – Members of the Ottawa Real Estate Board (OREB) sold 1,194 residential properties in March through the Board’s Multiple Listing Service® (MLS®) System, compared with 2,003 in March 2022, a decrease of 40%. March’s sales included 893 in the freehold-property class, down 40% from a year ...
Continue ReadingOttawa 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 ...
Continue ReadingPowered by IXACT Contact® Real Estate CRM Software
