Ottawa Market update for Residential and Condominium Homes - January 2022 compared to January 2021.
Here are the numbers for Ottawa Residential and Condominium homes and the comparison of average selling price and properties sold from January 2022 and January 2021.
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Information sourced from the Ottawa Real Estate Board.
Many people feel that Investing in real estate and becoming a landlord is too much responsibility and work. The answer to this is that it depends on the type of property, and how you set up the management of your investment property. In general condos have less maintenance to be concerned with relative to a freehold townhouse or single family home. If you really want to step back from actively managing your investment properties then maybe hiring a property manager is the right choice for you. The following article discusses this and one person's experience in more detail ...
Ottawa Market update for Residential and Condominium Homes - December 2021 compared to December 2020.
Here are the numbers for Ottawa Residential and Condominium homes and the comparison of average days on market, average selling price, and properties sold from December 2021 and December 2020.
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Information sourced from the Ottawa Real Estate Board.
We are proud to have been nominated once again by Faces Magazine for Best Real Estate Brokerage in Ottawa, and for our own Colleen Lyle being nominated for Best Real Estate Agent. Voting starts on Jan 6 - we would love to have your support in helping us pull off another win this year again.
Home prices continue to rise, and many of our first time buyers are having a hard time finding a home that they can afford. For some we have recommended changing their search to include condos that are more within their budget but even those are highly competitive among buyers. One way to get ahead of other buyers is to work with a proactive realtor who will keep you on top of new listings before other buyers see them and give you that edge.
Here's a great article describing more about the Home Buyer's Plan and how to borrow from your RRSP to buy a home.
Click here to read the full article by Corben Grant, sourced from Canadian Real Estate Wealth
Here is the Canadian Real Estate Association's prediction on the 2022 real estate market for the country. Ottawa being a strong market will continue to see rising house prices, and competition from buyers due to low inventory.
Click here to read the full article by Tara Deschamps, sourced from the Canadian Press
Should you wait until spring to list your home? Traditionally spring has been the strongest real estate market with many sellers waiting until then to list their homes. With home buyers currently outnumbering home sellers, the ongoing low inventory of homes for sale has created a seller's market and has driven up prices. This current market situation has disrupted the wait until spring market thought, with sellers currently benefitting from multiple offers, and often having their home often being sold over asking.
