**Introducing Ramvir Ahlawat: A Valuable Addition to TRU Realty**

We are thrilled to announce the newest member of our real estate family, Ramvir Ahlawat, who has chosen to join TRU Realty because of our management style and shared values. With over 14 years of experience in the real estate industry, Ramvir brings a wealth of knowledge and a commitment to excellence that aligns perfectly with our brokerage's mission.

Originally hailing from Toronto, Ramvir's transition to Ottawa has been seamless, thanks to his unwavering dedication to putting clients first. His unique guarantees, attention to detail, and friendly demeanor have earned him a reputation as one of the most trusted brokers in the field.

Ramvir's approach to client service is simple yet profound: "I tell every client that they're the most important part of the transaction, and I fully believe that." This client-centric philosophy drives his every interaction, ensuring that each individual receives the personalized attention and support they deserve.

Whether assisting first-time homebuyers or seasoned investors with multiple properties, Ramvir's commitment to guiding his clients through every step of the process is unwavering. His expertise in investment properties, coupled with his meticulous approach to client care, makes him an invaluable asset to anyone navigating the real estate market.

Beyond his professional accomplishments, Ramvir is deeply committed to giving back to his community. He has been actively involved in various charitable organizations, including the World Wildlife Foundation and CHEO. His belief in the importance of community involvement underscores his dedication to making a positive impact both in and out of the office.

At TRU Realty, we pride ourselves on providing exceptional service and support to our clients, and Ramvir Ahlawat embodies these values wholeheartedly. We are confident that his expertise, integrity, and passion for real estate will make him an indispensable member of our team, and we look forward to the positive impact he will undoubtedly have on our clients and community alike.

Please join us in welcoming Ramvir Ahlawat to TRU Realty. With him on board, we are more equipped than ever to help you achieve your real estate goals.

We're thrilled to announce the latest addition to the TRU Realty family: Ravi Tangudu! Ravi brings with him a wealth of real estate experience, fueled by his numerous successful investments in residential multi-family properties. While he may be newly licensed, Ravi's hands-on involvement in various purchases and sales of investment properties has honed his skills and knowledge, making him a valuable asset to our team and to investors across Ottawa.

Ravi's journey into real estate began with a passion for investment and a keen eye for lucrative opportunities. Over the years, he has navigated the intricate landscape of property transactions, gaining invaluable insights along the way. Now, he's eager to leverage his expertise to guide and support fellow investors in their endeavours, whether it's finding the perfect multi-family property or maximizing returns through strategic sales.

At TRU Realty, we pride ourselves on bringing together professionals who not only excel in their field but also share our commitment to integrity and client satisfaction. Ravi embodies these qualities wholeheartedly, and we couldn't be more excited to welcome him to our team.

With Ravi on board, our clients can expect personalized attention, tailored strategies, and unwavering dedication to achieving their investment goals. Whether you're a seasoned investor or just dipping your toes into the world of real estate, Ravi is here to provide the guidance and support you need to succeed.

Join us in extending a warm welcome to Ravi Tangudu! If you're ready to explore the possibilities in Ottawa's real estate market, don't hesitate to reach out. Together, we'll turn your investment dreams into reality.

Welcome aboard, Ravi!

The number of homes sold through the MLS® System of the Ottawa Real Estate Board totaled 629 units in January 2024. This was an increase of 16.5% from January 2023.

Home sales were 10.7% below the five-year average and 3.9% below the 10-year average for the month of January.

“Ottawa’s market activity is seeing positive gains over last year but it’s still a relatively quiet market even by pre-pandemic standards,” says OREB President. “While REALTORS® are telling us there’s lots of showing activity — probably thanks in part to the forgiving winter thus far — it’s not all translating to sales. This tells us that buyers are back out there looking, but still approaching cautiously. During the pandemic market, buyers had to move quickly and sometimes settle for a property that didn’t check all their boxes. Today, buyers are using the slower market to take the time needed to find their perfect place. Sellers would be well-advised to adjust their expectations and thoughtfully consider their pricing and timing strategy using the negotiating expertise and hyper-local data their REALTOR® can provide.”

“Ottawa’s market conditions can fluctuate quickly, though, because our supply is chronically low,” adds Brandon Reay, OREB’s policy and external relations manager. “Ottawa needs more suitable and affordable homes to address the housing crisis, and we need to increase density to meet population demands. We can’t restore and grow upon the market activity Ottawa saw five and ten years ago without more houses for people to buy. OREB recommends direct solutions for meaningful policy change, including streamlining the process at the Ontario Land Tribunal, eliminating exclusionary zoning, and permitting four units on residential lots. To meet the aggressive housing targets, we need to close the labour gap with investments in colleges and trade schools. We don’t need any more reactionary and distracting policy, like the federal government’s extension of the foreign buyers ban.”

By the Numbers – Prices:

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.

• The overall MLS® HPI composite benchmark price was $621,600 in January 2024, a gain of 3.2% from January 2023.
  • The benchmark price for single-family homes was $703,500, up 3.7% on a year-over-year basis in January.
  • By comparison, the benchmark price for a townhouse/row unit was $462,200, down 2.1% compared to a year earlier.
  • The benchmark apartment price was $418,500, up 3.7% from year-ago levels.
• The average price of homes sold in January 2024 was $631,722, increasing 1.8% from January 2023.
• The dollar volume of all home sales in January 2024 was $397.3 million, up 18.6% from the same month in 2023.

OREB cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price will vary from neighbourhood to neighbourhood.

By the Numbers – Inventory & New Listings:

• The number of new listings saw an increase of 7.3% from January 2023. There were 1,271 new residential listings in January 2024. New listings were 17.5% above the five-year average and 0.8% above the 10-year average for the month of January.
• Active residential listings numbered 1,961 units on the market at the end of January 2024, a gain of 4.5% from the end of January 2023.
• Active listings were 57.4% above the five-year average and 16.6% below the 10-year average for the month of January. Months of inventory numbered 3.1 at the end of January 2024, down from the 3.5 months recorded at the end of January 2023. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Courtesy of the Ottawa Real Estate Board