Market Summary:
The Ottawa real estate market posted another solid month of activity for November 2021. Overall the market was slightly up when compared to October 2021. On a year to year comparison prices were up about 20%. The biggest gains for November 2021 were seen in condos with month to month prices up about $28,000.
As we head into the holiday season we can expect activity to be quieter. Active listings will continue to decrease. There are good opportunities for buyers to secure properties in December and January. Generally, the data shows that there is a temporary dip in prices in those two months. Activity starts to pick up fast in early February as sellers and buyers prepare for the spring market.
Key Insights for Buyers:
December and January are great months to bid on and secure property in Ottawa. Activity levels are generally 50% lower and some good deals can be managed.
Key Insights for Sellers:
Demand is still strong and the holiday season is a great time to prepare your home for listing in early February. Active listings in the Ottawa area are still very low. In demand properties are selling fast and usually for over asking.
I am always happy to answer any questions you may have. Do not hesitate to reach out.
Kiril Peev
Email: kiril@sutton.com / www.kirilpeev.ca
Sales Representative / Sutton Group – Ottawa Realty / Brokerage, Independently Owned and Operated
Hintonburg – Orleans – Kanata
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