Time Is The Most Valuable Asset You Have - Hamre Real Estate Team RE/MAX Affiliates
Time is one of the greatest assets that we have as humans.
I'm Melanie Giray with the Hamre Real Estate Team and RE/MAX Affiliates in Ottawa.
I often tell people time in the market versus trying to time the market. So, time in the market means that you're not trying to guess when the market is gonna be at its highest and when it's gonna be at its lowest, because truth is, no one knows for sure, no one has a crystal ball.
Now of course, we can analyze data, we can look at trends, we can make educated guesses but nonetheless, no one knows for sure. Now if we look 👁at some data that was recently released by the Ottawa Real Estate Board, the average sale price year to date for 2022 is up by 8.4%.
Are we down from the high that we saw in February and in March?👀
Definitely. But year to year we're still seeing an increase in home value and 8.4% is a very healthy increase. You know, on any given more normal year, it's very standard to see a 3-5% increase in home value.
Now of course, what happened over the last few years with interest rates being historically low, the market pretty much exploded.
And of course, this was not sustainable long term.
If you have any questions you want to chat real estate, please feel free to reach out and I hope to hear from me soon. Take care.