From the blog...

OTTAWA MARKET UPDATE: JUNE 2020

Posted on: July 16th, 2020 by Chris Scott

The first half of 2020 is one for the books! We are living in a time that will be talked about for generations to come. COVID has irrevocably changed how we go about our daily lives now and in the future. The long term impacts on our economy are yet to be fully understood. Interestingly the impact on the Ottawa housing market has been quite the opposite of what most people would have thought.

I have been a Realtor for almost 16 years now and I have never experienced a roller-coaster real estate market like we have seen this so far this year. It was very much a seller’s market in January and February. Things grinded to a halt for basically the second half of March. Then April hit and the pace started to pick up. Now that pace is a full sprint! The driving factor is the lack of available inventory. COVID has taken out a huge amount of homes that would have been listed. Buyers are slugging it out for very few homes. I was up against 30 other offers on a house this week! How the heck do you beat 30 other buyers. Over 56% of homes in June sold for above their asking price.

For the first time since COVID happened, we have had a normal week of inventory hit the market. I expect that trend to continue and hopefully take off some of the pressure buyers are feeling out there. We will be in a sellers market territory for the foreseeable future.

The bottom line is our local economy is really showing just how resilient we are to outside economic factors. I believe that Ottawa is the most stable real estate market in the world. Bolded that for effect. It may not even be close. We are so fortunate to have this stability in our local market. Some market centres like Edmonton, Fort McMurray, Cold Lake, and others have had major swings one way or the other. Ottawa has historically not had any major swings at all. Our prices even go up in a pandemic! Seriously though that is pretty crazy.

Our team is committed to helping our clients get their house ready for the market. It is important to help our seller clients receive as much out of the sale as possible. Call us if you have any questions. We are always happy to help.

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 2020

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