Market Update For Ottawa Homebuyers - May 2022

Posted by Leif Olson on Friday, May 6, 2022 at 2:16 PM By Leif Olson / May 6, 2022 Comment

What did April look like in Ottawa Real Estate?...

And what does this mean for buyers?

Hello everyone, Melanie Giray with Hamre real Estate Team RE/MAX Affiliates here in Ottawa.

April was certainly an interesting month for real estate.

You know, we definitely saw a slight shift in the market.

So first things first, you know, the average price for a residential property was $830,000.

And the average price for a condominium property was about $470,000.

Now, if you're a buyer, this is really important for you.

Inventory is currently the highest that it's been all year.

And you know, if we look at the number of sales that took place in April of this year, in comparison to April of last year, the numbers are slightly down.

So April was a little bit of a quieter month.

A lot of people bought earlier on in the year.

So the buyer pool definitely got a little bit smaller.

So there is slightly less competition.

So if you're a buyer and you're looking to get into the market, send me a message.

Let's connect. We'll come up with a strategy to help you win in this market.

☎️And I am here to help you navigate this ever-changing real estate market.

Hope everyone's having a lovely day bye now!

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