Ottawa Real Estate Market Predictions 2022 - Chelsea Hamre

You have seen nothing yet! 2022 will be a very exciting real estate market in Ottawa. Here are our predictions and what we expect to see happen. I’m Chelsea Hamre from the Hamre Team at RE/MAX Affiliates in Ottawa, RE/MAX Canada just released their 2022 Canadian Housing Market Outlook report - Ottawa is on the move. They are predicting another 5% increase of the average price of homes in 2022. There are a few trends that are driving this growth. 

1. Interprovincial Relocation - Ottawa is an affordable major city. We saw that a lot this year, and as buyers become more and more frequently priced out of the GTA and other more expensive regions, Ottawa is top of mind. The Hamre Team has high credibility w/ relocation clients given our knowledge of the city, the market and the industry. 
2. Inventory levels remain low - this started early 2019 leading the seller’s market and this is expected to continue into 2022.
3. There’s no spring market - seller’s aren’t holding off until March or April and neither are buyers. It’s going to be a busy Q1 as talks of increases in mortgage interest rates rise changing the affordability range of buyers. 

Overall - 2022 will be be healthy and strong in regards to the Ottawa Real Estate Market. If you’re looking to Buy and/or Sell next year - especially if you’re thinking both - let’s chat about your home goals and get your home road map started. I’m Chelsea Hamre and I look forward to seeing you soon. Take Care.