Ottawa Real Estate Market Fall 2023
Posted by Nic Hamre on Monday, September 25, 2023 at 5:54:04 PM
By Nic Hamre / September 25, 2023
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How is this year's real estate market any different? 
I'm Nic Hamre with the Hamre real estate team at RE/MAX Affiliates here in Ottawa just alongside the Canal, beautiful, gorgeous day. 
And yes, we are approaching the fall season. 
But how is this year any different? 
It's different for good reasons. 
And let me share a couple of reasons why this year 2023 September is different in particular, but let's date it back to 2019. 
And on when we've seen a fueled market to create the numbers that we see today. 
Let's talk about inventory and let's talk about week 36 and week 37 in particular out of the 52 weeks of the year. 
Yes, week 36 talking a couple of weeks ago, we've actually seen the most inventory this time of year since 2019. 
I'm not talking new builds. I'm talking buyer selection, people selling their homes. 
What does this mean? Buyer selection? Great thing to have. 
Well, let's carry it into the next topic of conversation. 
Week 36 was the fewest amount of sales we've seen since 2019 week, 36. 
This particular time of year, any week, 36 from 2019. And on, it's been the fewest amount of sales.
So, buyers, you have two things going your way right now, greater selection and less competition. 
But here's where it gets interesting. This time of year, week, 36 and week 37 we've actually seen an increase in average sale prices with the exception of 2022 last year and it is so damn close. Something has to give. 
I'm Nic Hamre with the Hamre Real Estate Team at RE/MAX Affiliates here in Ottawa.
If you want to talk real estate, if you want to talk about where the market's going from today and on, I think it's gonna get quite interesting folks.
Let's see where it goes. I would love to chat if you're a buyer or if you're a seller.
If you're looking to move to Ottawa or wherever it is, I love to talk real estate and I want to talk real estate with you. 
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