Posted by Leif Olson on Wednesday, December 1, 2021 at 5:11 PM By Leif Olson / December 1, 2021 Comment
Ottawa is experiencing major growth.
Here's a little bit of a market update for you for the beginning of December.
➡️I don't have to wait for the board to produce the numbers.
I know exactly what's going on. I have a high level of credibility in the Ottawa real estate market. Because I live it, I work it and ⏰I feel it every minute of the day.
My name is Greg Hamre from The Hamre Real Estate Team at RE/MAX Affiliates
I can tell you that this time is not normal. It's not a normal November. It's not a normal December.
We had a record our record month in November of sales, including listings and some fabulous buyer finds.
We're not average, we're not your average realtor and, and all the credibility of those people, but I'm very engaged.My team is very engaged.
We have a real sense of the market going into December, and it's going to be a, a kind of a crazy December.
Black Friday, kind of kicked things off here.
What's happening in the real estate market in Ottawa for December?
Shortage of inventory in general for the amount of people that actually want to buy.
➡️But in saying that some of the weeks in November, where the highest level of listing activity, new listings coming on higher than 2020 and 2019, which means people are very confident about Ottawa.
There was a sense of, this is a good time to buy.
In fact, the financial post just posted it today.
That real estate is your best investment right now.
The reason you want to invest right now is that we know interest rates are on the rise for next year.
We know inflation is going to affect real estate very quickly.
And we know that new home sales have already been delayed up to six months.
So if you thought it was a year and a half to get a new home that unfortunately add six months to it.
That puts a lot of pressure on the real estate market in resale for resale homes, and really seeing that happen right today, where there's the inventory is attracting a lot of.
You're seeing it in certain neighbourhoods. You're seeing it in certain price points and we're seeing it in December, which is normally a bit of a pause month before everything kicks in for a crazy next year.
This year is different! Buyers are out there. Savvy buyers are taking advantage.
Now savvy sellers are taking advantage of the market because more people can afford to buy your home today.
So those people are jumping on it.
They don't mind having their house on the market for a weekend in November.
To get people through and have the money in their hand to make their next purchase or their next move.
All the economists are saying that the first quarter of next year will be just like it was in 2020 and 2019 multiple offers.
I can tell you, we're seeing multiple offers right now.
Multiple offers again on certain price points, certain neighbourhoods, but we know where the good buys are.
We are listing homes this week, we have more listings coming on next week, right through the month.
We've just had a light dusting of snow, but you can still see decks patios.☀️
In fact of just doing a home inspection downtown Ottawa here on Cooper street, and you could see roof, they're just investigating the roof right now, looking at all around the foundation.
It's a great time to be a buyer. Get ahead of the market again.
This is Greg Hamre from The Hamre Real Estate Team at RE/MAX Affiliates
It's probably as the financial post would say the best time to buy real estate. ⏰
My team has is one of the top-ranked teams in Canada for real estate, with RE/MAX Affiliates in Ottawa. I hope to see you soon. Take care all the best.❤️
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