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March Ottawa Real Estate Update: Signs of Spring Surge Sprouting
OTTAWA, 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 ReadingFebruary Ottawa Real Estate Update: Resale Market Stabilizes in February with a Glimmer of Hope for Buyers and Sellers Alike!
https://youtu.be/p9ttW4Mv8wU Ottawa Market Data, The Numbers Prices ⬆️ & ⬇️ Residential Prices ⬇️ 16% from last year Average Price: $708,968 Condominium Prices ⬇️12% from last year Average Price: $410,927 approx 5% over January 2023 Supply Total Inventory - ⬆️ & ⬇️ February 2023 saw 2.74 months which is UP from February 2022 where we had less than one month ...
Continue ReadingJanuary 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 ...
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