Ottawa Real Estate Market Update for February 2023

March 15, 2023

Market Summary February 2023: As expected, home prices were negative on a year to year basis. On a month to month basis, prices seem to be stabilizing. Detached homes posted a $54K gain while townhomes were down about $16K. Detached home prices lost 15.6% from a year ago. They were ...

Ottawa Real Estate Market Data for January 2023

February 4, 2023

Market Summary January 2023: After 10 months of weaker prices, the Ottawa real estate market had a relatively strong start to 2023. I would need to see a few more months of stable prices and increasing transaction volume to confirm that prices have stabilized. Detached home prices lost 12.6% from ...

Ottawa Real Estate Market Update for December 2022

January 30, 2023

Market Summary December 2022: Detached home prices lost 6.1% from a year ago. They were down about $26,000 on a month to month basis. Townhomes lost 8.2% compared to a year ago and lost about $1,000 on a month to month basis. Condos gained 9% compared to a year ago ...

Ottawa Real Market Update for November 2022

December 13, 2022

Market Summary November 2022: The Ottawa Real Estate market was stable on a month to month basis and posted price decreases on a year to year basis. Detached home prices lost 7.0% from a year ago. They were flat on a month to month basis. Townhomes lost 4.0% compared to ...

How to Locate Off-Market Properties

December 2, 2022

What are off-market properties? 1. Properties that are currently available for sale but not publicly advertised on the MLS system. 2. Properties that will be listed on the MLS system in the near future. Most homes take 1-2 months of prep work in order to be ready to list on ...

Interest Rate Increases and the Ottawa Housing Market

The cost of financing an average single detached home in Ottawa assuming a 20% down payment and a fixed 5-year mortgage: October 2022 / Ave Price $717,000 / Mortgage Rate: 5.2% Monthly Payment: $3402 📈 February 2022 / Ave Price $906,000 / Mortgage Rate: 2.6% Monthly Payment: $3283 ⚡ January ...

Cancelled Listings Explained

November 25, 2022

Ottawa Real Estate: Cancelled Listings The number of cancelled listings in the greater Ottawa area: Oct 25th 2022 – Nov 24th 2022 – 696 Oct 25th 2021 – Nov 24th 2021 – 300 Oct 25th 2020 – Nov 24th 2020 – 281 Oct 25th 2019 – Nov 24th 2019 – ...

Ottawa Real Estate – List vs Sold Prices Ratio

The Ottawa real estate market experienced record price growth from January 2020 to March 2022. During the first quarter of 2021 and 2022 buyers were paying about 110% over asking prices. The market has changed and most deals are closing around 95% of the original asking price which is in ...