From the blog...
OTTAWA MARKET UPDATE: OCTOBER 2023
Examining the Ottawa real estate market over the past month reveals a unique balance. With the lowest new listing supply of any year in the last five years, demand remains subdued due to factors like high interest rates and consumer uncertainty. Essentially we have low supply and low demand. This has turned 2023 into a balanced market, offering reasonable conditions for both buyers and sellers. Looking ahead to 2024, the dynamics may shift based on supply, demand, and changing interest rates. If you have questions about what’s happening in your neighbourhood, please don’t hesitate to get in touch. My team and I would love to have a chat with you.
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