Members of the Ottawa Real Estate Board sold 1,080 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,601 in September 2021, a decrease of 33%. September’s sales included 816 in the residential-property class, down 34% from a year ago, and 264 in the condominium-property category, a decrease of 27% from September 2021. The five-year average for total unit sales in September is 1,586.
“September’s lower sales performance reflects continued hesitancy among Buyers as they watch interest rates rise and consider the speculation surrounding price trends. With rising interest rates, the mortgage stress test has sidelined some potential Buyers, while others are likely scrutinizing their budgets for affordability amidst inflation and cost of living increases,” says the Ottawa Real Estate Board President.
“On the other hand, we have seen an uptick in the number of new listings entering the market, which were not only higher than last month but also last year, and the five-year average. This trend continues to bring the resale market into more balance, which generally means more time for Buyers and Sellers to weigh their options and to adjust according to their needs."
By the Numbers – Inventory & New Listings:
“Prices are stabilizing with slight month-to-month movement, whereas, year over year we are seeing the slow and steady increases that the Ottawa resale market is known for. As every neighbourhood is different, Buyers will want to consult a local REALTOR® who can tap into proprietary data on price trends and expert insights to help them navigate market shifts."
By the Numbers – Average Prices*:
REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 4,678 properties compared to 3,598 last year at this time.
Courtesy of the Ottawa Real Estate Board
We are very thrilled to announce that Kim Duong-Vu has joined TRU Realty!
Kim studied tourism management and real estate at UBC in Vancouver before earning her license to sell real estate in BC and then in Ontario when she moved to Ottawa.
Kim is passionate about helping first-time home buyers, investors, retirees and families buy and sell a home as well as helping her community. Her energy and professionalism, is motivated for providing the unwavering support her clients need to sell or buy a home. She understands that every person, every family has special needs and requirements – and she strives to help make sure that each and every client takes steps to realize their dreams.
It was with that same passion and professionalism that TRU Realty strives to support their Realtors! We encourage all who know Kim to trust her with their real estate needs - you won’t be disappointed!
We are thrilled to announce that Marina Karshuli has joined TRU Realty!
Marina believes every home is unique and recognizes the same is true of every homeowner and with that mindset she approaches working with her clients. In just a few short years, Marina has gone from a newly licensed Realtor to one of the top agents in the city! Clearly, her efficiency, responsiveness and knowledge has earned her many clients trust!
When Marina chose to make TRU Realty her new brokerage, we were TRUly honoured!
We encourage all Marina's clients, friends and family to contact her for all their real estate needs!
We are really excited to announce that Sophia Choroshansky has joined TRU Realty!
Sophia has established herself as one of the top Realtors in Ottawa! Her no-nonsense approach, integrity and competence have attracted hundreds of satisfied clients and she is very proud of the relationship she has developed with them. In each transaction, she endeavours to make the experience a painless and pleasant journey so her clients can make the best decision for their families!
Sophia recognised that her level of service is enhanced by the great team of people surrounding her. In that regard, we were honoured to have Sophia join TRU Realty! The values that Sophia exemplifies are the same that our brokerage appreciates.
We echo Sophia's own invitation to her clients, family and friends: "It would be my pleasure to help guide you along your personal journey to success!"
.jpg)