Last 30 Days In Ottawa Real Estate Market - Chelsea Hamre - RE/MAX Ottawa
What happened in the last 30 days in the Ottawa real estate market?
NOT JUST STATS!
Anybody can post stats.
If you're a numbers person, I'll gladly show you the stat.
But from a team that sells homes every day and that has success stories to go behind it.
I'm Chelsea Hamre from RE/MAX Affiliates and the Hamre Real Estate Team in Ottawa.
What we saw for May was that the spring market ended.
Which happens in the month of May.
So we started out like a lion and kind of ended a bit like a lamb.
But we rode the wave as a team and we were able to be there for our clients.
✈️We had a lot of relocation clients coming in and we had to shift a few things for sellers.
So if you're selling or thinking of selling...
You want to consider that your home might be on the market longer than it was the beginning of the year.
But you're still within the same price category
Buyers, you can get a real deal right now from what we've experienced.
We're running into fewer buyers for one, and there are fewer buyers offering per property.
Now your biggest challenge as buyers is going to be interest rates rising.
They've just announced a new rate today.
➡️So for sellers, fewer buyers can afford your home.
➡️And for buyers, you're competing against fewer buyers.
☀️As we see the shift come into the summer market now, it's a great time to still be active in the market.
We're still not at the peak of the market, meaning that if you bought now, you're still growing your investment portfolio and you're still investing in yourself and an asset.
And I heard this quote earlier this month and I absolutely love it:
If you're renting, you're paying 0% equity and you're paying 100% interest.
Think of that. What is better?
4% interest or 100% interest.
So if you're looking to get into this real estate market as a buyer or a seller, let me know, would love to chat and come up with a strategy that works for you.