Here are the January 2023 numbers: “January’s marked slow down in unit sales over 2022 indicates potential home buyers are taking their time,” says OREB President Ken Dekker. “While last month saw the culmination of the succession of interest rate hikes announced by the Bank of Canada, affordability remains a factor. They may be waiting […]
Here are the December 2022 numbers: Here are the specifics for each property class: Here are the total 2022 numbers: “Even with the normal seasonal slowdown, December’s performance was in stark contrast to the very active resale market that opened 2022,” says Ken Dekker, OREB’s newly installed 2023 President. “As interest rates and inflation both […]
Here are the November 2022 numbers: Total number of units sold: 846 – down 42% from 1,456 in November 2021. Five-year average unit sales for November: 1,270. “November’s sales were expectedly low given the typical slowdown this time of year but they also reflect today’s economic conditions,” says Penny Torontow, OREB’s 2022 President. “This is […]
Here are the October 2022 numbers: Total number of units sold: 1,080 – down 33% from 1,601 in October 2021. Five-year average unit sales for October: 1,554. “After the volatility of the past two pandemic years, which was unsustainable, the market is correcting and adjusting,” says Penny Torontow, Ottawa Real Estate Board President. “The slowdown […]
Two of Ottawa’s most successful real estate brokerages, Paul Rushforth Real Estate and Tracy ArnettRealty, are forming one powerhouse company under the Paul Rushforth Real Estate banner.This move is expected to provide Ottawa with a new high-calibre experience in buying and sellingOttawa real estate. The merger will benefit current and future clients of both companies […]
Here are the September 2022 numbers: “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 […]
Here are the August 2022 numbers: “August is a traditionally slower month in Ottawa’s resale market ebb and flow cycle due to summer vacations. Compounding the slowdown in market activity, Buyers are uncertain about their purchasing power given impending additional interest rate hikes,” states Ottawa Real Estate Board President Penny Torontow. “The lightning speed at […]
Here are the July 2022 numbers: Total number of units sold: 1,110 – down 29% from 1,718 in July 2021. Five-year average unit sales for July: 1,691. “We are witnessing a profound slowdown in Ottawa’s resale market. July’s numbers reveal that Buyers are indeed putting on the brakes more heavily than what is typically expected […]
Here are the June 2022 numbers: “After the frenzy of the past two years, we are witnessing Ottawa’s resale market normalize in 2022 and shift towards the more traditional seasonal ebb and flow cycle. While June transactions do typically taper as many look towards their summer holidays, last month’s sales were at a slower pace […]
Here are the May 2022 numbers: “With year-over-year resales declining in March and April, and now with this downward trend continuing into May, traditionally the highest performing month for resales, it is quite clear that Ottawa’s resale market is shifting away from the blazing pace of 2021,” states Ottawa Real Estate Board President Penny Torontow. […]