Next Week's News - Ottawa Real Estate Market 2023

🔮 It's pretty rare to have a crystal ball. 📰 I know what the media is going to talk about in regards to real estate next week. 👋 I'm Chelsea Hamre from the Hamre team at RE/MAX Affiliates in Ottawa. 📈 June sales for 2023 were up in comparison to June 2022 we saw an interest rate hike beginning of June and this had a slight impact. ⏸️ There was a bit of a pause in there as it usually always is for about a couple of days and right after those couple of days were done. 💥 Really after that weekend, boom, the market was back at it. 🔮 We are anticipating another rate increase later in the month of July. 🏠 But what we are seeing happening is that many properties are getting multiple offers, those that are listed properly and that have high demand and low amounts of inventory such as properties under a million dollars, slightly under a million dollars in the downtown Ottawa core. 🤝 I'm experiencing that with clients right now. 🏡 On the other hand, if you're a single-family home in a suburb community such as Avalon and you're listed between 850 plus, well, there's about five months worth of inventory. 💰 So it really depends on what you're looking at to buy and what you're looking at to sell because that will have an ultimate impact on what your pricing strategy and everything that encompasses with that is going to happen. 🏘️ If we can help you buy or sell your real estate, it would be our absolute pleasure to help reach out to us. 👋 I'm Chelsea Hamre from the Hamre Team at RE/MAX Affiliates in Ottawa. 📍 We Know Ottawa and that's our website visit. 🌐 WeKnowOttawa.com 🗣️ We'll talk to you soon. 👋 Take care.