May Market Snapshot - Greg Hamre

Posted by Leif Olson on Thursday, June 3, 2021 at 4:15 PM By Leif Olson / June 3, 2021 Comment

Lots of EXCITEMENT here in

OTTAWA.....

....And another

RECORD month in

May.

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

I just wanted to give you a market snapshot of what to expect in the month of June.

We just came off of numbers that exceeded all expectations.

Record number of home sales and listings that were outpacing the market sales are outpacing the market expectations.

Now we're into now, we're at the beginning of June, the weather's beautiful people are getting outside.

People are getting those shots.

The light is at the end of the tunnel and what will happen next?

The economists are saying the economy is going to boom.

People are going to get out of their homes and

spend money. And you're really going to see that in the luxury market.

Now, the government has just imposed new mortgage rules. To slow down the market. They're not, we're not expecting that to happen, to have a big effect in Ottawa.

There's just too much of a shortage of supply and you're really gonna see it in recreational properties and the luxury market.

It's the 50 plus population that hasn't moved in the last 18 months. They've been cocooned. They were very worried about their health, more than the young people.

They've saved up a lot of money.

They have money already and they're ready to break loose.

They just had a near death experience.

So when you coming out of this, when the second shots arrive or the warm weather picks up and people are outside, it's the baby boomer. That's going to boom and carry this market. And it's high end homes.

They're finally going to loosen up and sell their family homes and start looking for their next

forever luxury home.

And it'll probably be in most cases, a lateral move.

So they're moving downtown or they're moving to their

cottage, waterfront properties or vacation properties or condos in the inner core of the city.

We're seeing it. Now. We're seeing record pricing every day.

We're blown away by what's happening here in Ottawa.

The market in Ottawa is stable. It's hot, it's healthy.

You can see behind me, I'm standing at the lock station at the Rideau Canal entering the Ottawa River behind me.

It's the only locks on the Ottawa River, on the Rideau Canal that I've never been through.

It's on my bucket list. I've done every other lock except this one, but we're right. Downtown. The Chateau Laurier, The Parliament is to the right you, and the other exciting news is...

The SCOOTERS are out