Ottawa Market Update

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The lack of supply continues, along with properties selling very quickly. 🏠

Rental vacancy rates are at less than 1%! Some renters are being pushed into condo ownership because they simply can't find anything to rent. If you're thinking of becoming an investor, now is a great time. 🔥

In some pockets of the city, buyers are facing multiple offer situations and properties are often selling over list price. These dynamics indicate a sellers market in those areas. It's essential to use the experience and guidance of a Realtor in this market, we can help you determine whether it's a good idea to sell. Or whether to buy based on how the market is doing in the neighbourhood you want to move to. The statistics below are for Ottawa as a whole, but each neighbourhood will differ. 🤓