From the blog...

Where is the spring market heading?

Every year people ask the same question around this time: what will the spring market look like? The reality is that Ottawa tends to follow a very predictable rhythm. Once the sun starts coming out and the snow begins to disappear, activity picks up quickly. We are starting to see exactly that happen now.

Over the past few weeks we’ve had a noticeable increase in inquiries from both buyers and sellers trying to plan their next move. Many homeowners who were sitting on the sidelines during the winter are getting ready to list, which means buyers should see a healthy amount of inventory this spring.

Colin mentioned on the podcast that the shift has been noticeable even compared to a month ago. Homes that were sitting for a while over the winter are beginning to move, showings are increasing, and buyers are starting to re-engage with the market. Ottawa often waits for a little sunshine before things really get going, and that moment seems to be arriving.

One topic that has been coming up a lot lately is the use of first refusal conditions in offers.

A first refusal clause allows a buyer to purchase a home conditionally while still needing to sell their own property. The home they are buying remains on the market, and if another buyer submits an acceptable offer, the original buyer is given a set period of time (often 24–48 hours) to remove their condition and proceed with the purchase. If they cannot, the seller is free to accept the new offer.

In a market where many homeowners need to sell before they buy, this clause can be a useful tool. It gives buyers an opportunity to secure a home while still protecting themselves if their current property hasn’t sold yet. At the same time, it allows sellers to keep marketing the property and maintain leverage if another offer comes in.

The bigger question many clients are asking right now is whether it’s better to buy first or sell first. There isn’t a one-size-fits-all answer. It depends on inventory, price point, and how comfortable someone is carrying risk during the transition. In the episode we walk through what we are currently seeing in the market and how our clients are approaching that decision.

With inventory expected to grow and activity starting to build, this spring should provide good opportunities for both buyers and sellers who are prepared.

If you’re curious about where the market is heading or how strategies like first refusal clauses work in real situations, make sure to check out the full podcast episode where we break it all down.