How's the Market - February 2020

The question we are asked most often in casual conversation is “How’s the Market?”.  Right now the market is very solid and at the same time challenging.  

We are in the midst of a very strong seller’s market.  That means there are more buyers than there are homes on the market.   So it is great for sellers, but challenging for buyers. 

It is interesting to note that across the Ottawa region more homes were sold in 2019 than in 2018 despite historically low supply.  And, we started off the year with only 1525 homes on the market, which is 25% lower than the start of 2018, and over 50% lower than the 4 years before that.  It is definitely a seller’s market.

If you are thinking of selling this spring or summer, it is a great time to sell!  Prices are strong, and there are buyers just waiting for homes to come on the market.  Take advantage of this by being one of the first homes on the market this spring.  There is the built up demand from months of low inventory, and you have less competition from other listings.

Lindsay and I would be happy to sit down with you, talk about timing, how to price your home in this market, and guide you in preparing your home for sale.  Please give us a call.

Russ Warren. 613-720-4941

Lindsay McIntyre. 613-292-9226

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.