Affordability vs Availability in Ottawa Housing Market

Affordability is taking a backseat to availability here in Ottawa.

My name is Greg Hamre from RE/MAX Affiliates in Ottawa and the Hamre Real Estate Team. 🏠

If you're one of those buyers looking for that missing piece of the puzzle, the perfect place to call home, we've got some options for you. 🔍

Hang on, let's understand this. 🤔

New construction is down 39.2% here in Ottawa and a lot of that new construction is rental product. 🏗️

The last six to 90 days home sales have outpaced the year before by roughly 3 to 4%. 📈

So we're seeing more homes are being sold less inventory coming to the market. 🏡

Sale pricing was down in December and early January. 📉

That's traditional for that time of year. ❄️

The lowest prices are always in December, but as we click into the spring market, we're already in full motion of that. 🌸

We're predicting that in 2024 Ottawa, home prices will rise by 5% and they'll continue to rise year after year for the next decade. 📈

Finding the right home though is the advantage we have, we have access to coming soon and off-market listings and we have a knack for finding that little diamond in the rough product. 💎

And we don't stop until we found it. 🛑

But if you're a home seller and you're thinking of selling in the next 6 to 8 months, we want to talk to you right now. 🗣️

You have great leverage. 💪

You can control your pricing, control the closing day, control the conditions. 🏷️

And if you think this is a time of year to move, we can make that happen for you seamlessly as easy as possible. 🚚

We can prepare your house for the market and get it out relatively quickly. 🏠

If you're a buyer reach out to us, we want to talk to you. 📞

We have access to product. You're not seeing. 🔍

My name is Greg Hamre from RE/MAX Affiliates in Ottawa and the Hamre Real Estate Team. 🤝

We hope to see you soon. Take care. 👋

#WeKnowOttawa #OttawaRealEstate #Ottawa

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