Ottawa Real Estate Market Report for June 2020
Welcome to our updated infographic: Ottawa Real Estate Market Report.
The Ottawa real estate market is doing well. When the Ontario State of Emergency was declared, the resale market in Ottawa took a nosedive. From about 500 per week at that point, we hit a low of just over 200 per week only 4 weeks later, followed by 3 weeks of relatively low improvement. Then the slope changed, and we’re back to similar number of sales per week with respect to 2019.
Sale prices show a different story. Though average prices did drop significantly, they have rebounded and remain well above 2019 prices.
It’s still very much a “seller’s market” with multiple offers on almost every property. However, there is a significant increase in the number of listings being added every day, so there is hope that it will become more balanced and give buyers the opportunity to buy their home.
As always, we welcome any questions you might have!
The charts below are courtesy of the Ottawa Real Estate Board.