The Ottawa Real Estate market continues it’s upward trajectory uninterrupted. Active listings remain well below 1000 and buyer demand is as strong if not stronger than this time last year.
I am expecting a strong spring market as there are multiple buyers for every home available for sale. The recent interest rate hike and the forecasted hikes will provide some headwind but the results remain to be seen. Unless inventory increases drastically and/or a large portion of buyers exit the market, there is little that can significantly slow down this market.
Key Insights for Buyers:
Have your mortgage pre-approval ready and make sure to look at recent sold prices (as appose to list prices). Securing a property in this market can be accomplished with 1-3 bids for determined buyers. Recent sold prices are available via my site kpre.ca
Key Insights for Sellers:
Make sure to have your home looking it’s best for showings. Maximizing the number of in person visits seems to lead to a higher final sold price. Homes are selling in 1 – 7 days with multiple offers. Be prepared to receive a record price for your home!
I am always happy to answer any real estate related questions you may have.
Do not hesitate to reach out.
Sales Representative / Sutton Group – Ottawa Realty / Brokerage, Independently Owned and Operated
Hintonburg – Orleans – Kanata
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Referrals are always welcome and greatly appreciated. Thank you!