From the blog...

OTTAWA MARKET UPDATE: JUNE 2021

Posted on: July 13th, 2021 by Chris Scott

The talk of Ottawa the past few weeks has been the cooling real estate market. I just wanted to add some perspective on this. The market is most certainly changing but the first quarter of this year was so hot that we may never see that type of inventory shortage again in our lifetime. It is just not the same offer frenzy that we were used to. Buyers are spreading their offers around on different properties. Hopefully this will lead to more balance in the market.

The market is not the same as what it was and that is ok. It is still very much a seller’s market right now. Prices have stabilized and for the most part, sellers are still trying to achieve prices that comparable houses sold for a few months ago. In some areas that is still very achievable and in other cases those numbers are now out of reach.

Where do we go from here?

Prices have certainly stabilized over the past few months. Buyers still seem to be able and willing to pay the premium prices that sellers are demanding. There are fewer offers on properties but the pricing strategy has really changed. Sellers in many cases are now pricing at the mid to high end of the market. So instead of pricing a home 100k less than what they expect they may price it 20-50k less and if on offer date they don’t get an offer they likely will increase the price to match their expectations. Some sellers are still going way under their desired price and others are pricing right at the most recent comparable. This has created a very complicated marketplace. With so many strategies out there it is important to lean on your Realtors experience to help navigate you through it.

With year-to-date average sale prices at $734,357 for residential and $422,734 for condominiums, these values represent a 33 per cent and 20 percent increase over 2020, respectively. Pretty incredible numbers really.

Every house is unique. If you want to know what’s happening in your area please feel free to reach out.

Tags: Amount, Average, Average Ottawa Home Prices, Buy, Buyer, Buying, Buying in Ottawa, Condo, Cost, Detached, House, Housing, Listings, Market, MLS, Ottawa, Ottawa Home Prices, Ottawa Housing Market, Ottawa Market Stats, Ottawa MLS Sales, Ottawa Real Estate, Ottawa Realtor, Price, Recap, Report, Review, Sell, Seller, Selling, Selling in Ottawa, Townhome, Townhouse, Units, Update

    
 
 
        
   Anny Metivier 
 2024-08-13
 
 
  Over the years, with multiple military moves, we’ve had the opportunity to work with many real estate agents, and we can confidently say that not all are created equal. Chris, by far, has been the most trustworthy and easiest real estate agent we’ve had the pleasure to work with.
  
 
       
   Jake Moffat 
 2024-06-07
 
 
  Colin has been the best realtor to work with and helped us buy a great house in the perfect neighborhood. Colin and the rest of the team at Chris Scott were incredibly helpful the whole way and always available to answer questions, show us houses at a time that was convenient for us and were just generally professional and friendly during the whole process. We will recommend Colin and the team to our friends and family.
  
 
       
   Faith Woodley 
 2024-03-13
 
 
  I was a co-Executrix of an estate, and we had a condo that we had to sell for the estate.  In order to get the property ready for sale, we had to have the over 5,000 square foot condo painted and the carpets replaced.  Since the property was empty, Chris recommended a home stager that he uses on properties that require these services, and she did a fantastic job of staging the condo. It took the condo to the next level. The condo sold for a phenomenal price, and we were very happy with Chris Scott and his abilities.  He always gives over 100 percent to get the job done!  I recommend him to anyone that requires the services of a great real estate agent.
  
 
       
   Emily Bozanich 
 2023-10-07
 
 
  We worked with Rachel and she was beyond diligent. She is so organised and meticulous with details, it really helps when buying a home. She even agreed to do a virtual walk through for the home we ended up buying because we weren’t going to get there ourselves prior to offers being reviewed. She was also great with recommending areas to consider and avoid. Highly recommend.
  
 
       
   Cy Dixon 
 2023-10-06
 
 
  Rachel was amazing. She helped me find the perfect home for me and my son during a challenging time in my life. She was extremely patient and empathetic, professional and knowledgeable. I highly recommend her. No one will work harder for you than Rachel.
  
 
       
   Jeff C 
 2023-10-06
 
 
  Awesome realtor team very helpful and knowledgeable
  
 
       
   Nathalie Groupe Godin 
 2023-10-06
 
 
  Great service. Very knowledgeable. Super helpful. I’d use this team again.
  
 
       
   D Hynders 
 2023-10-05
 
 
  I recently used Chris' team to purchase a new house and I have to say that it was a pleasure to work with them.
  
 
       
   Megan Bixby 
 2023-10-05
 
 
  My husband and I purchased a house in the surrounding Ottawa area with the assistance of Colin from this group of individuals. We unfortunately were left with no choice but to purchase a home sight unseen due to our work circumstances. We originally considered not purchasing because of this.
We deliberated and chose to purchase a home after participating in FaceTime showings and we could not have been more satisfied. Colin was objective, professional, calm, informative, and realistic. He listened to our needs and helped us choose our home. The fact that we were pleasantly surprised, and a year later remain pleased as punch, says everything about how talented this company is. Will, without a doubt, use this company when we leave Ottawa.
  
 
       
   André Desjardins 
 2023-10-04
 
 
  We worked with Chris to find a home back in 2011 that would suit our desire to be close to work. He was nothing but professional and courteous! Listening to our needs and showing us what we were looking for. Years later, when we thought about down sizing and finding a renovated home, he took us around to see some in the neighborhood. He always open to helping us out in our searches

From the blog...

OTTAWA MARKET UPDATE: JUNE 2021

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