First off I wanted to emphasize that my team and I are here for you during these uncertain times, if there's anything at all we can help with please let us know. You know 8 years ago, when I moved from Toronto to Ottawa, you have adopted me and supported me to grow in this beautiful City and it is our moral duty to now stand up and help. So, with that said, please let my team and I know how we can help you in any way we can. As for the Market, well we still have a shortage. I hear many people speculate that the market will fall. What I always say is that we can't rely on what we don't know rather focus on what we do. And what we know is: the past and the present.
Historically, Ottawa's Real Estate Market has been proven to be very steady, strong and resilient. A big factor is due to our economy being mostly supported by Government Employees, who exhibit a very small risk as far as job security goes, they are also extremely conservative in their committing to a large Mortgage that's why we are seeing prices in the Ottawa Markt not necessarily having the big surge, like other market places in Canada, such as Toronto and Vancouver, but we are seeing steady growth. If you look at some historical data you will see that we have had a gradual yet steady increase in prices.
For example, data shows that there was a 160% increase in average residential price from 1960 to 1970;
240% increase from 1970-1980;
220% increase from 1980-1990;
110% from 1990 - 2000;
200% from 2000 - 2010;
170% from 2010 - 2020 (presently)
Furthermore, prior to COVID19, we were seeing a month over year increase, multiple offers on almost all properties as a result of the shortage of inventory. As the Work At Home Order came into effect, we saw the activity in the market drop and the average price touched that of the same last year. However, almost right after we started seeing prices to climb back up. Again we don't have enough data yet to show you what can happen, but we are experiencing bidding wars yet again as a result of even less inventory. Also, after talks with many people in the past few days, we are seeing that there are still many people who are looking to make a move or are looking for great investment opportunities. So I’ll let you form your own opinion about the market.
Also, we are always on the lookout and identifying off Market listings, which represent a great deal for the most part. And I know a lot of you want front of the line access to these, if that’s you, just simply let us know by registering for Free and no obligation
Visit: AnnaAlemi.com/vipbuyer
Be Sure to Continue Following us on all our Social Media Channels as we continue to provide you with Up to Date Local Data and News About Our Market as well as Tips and Tricks with Everything Real Estate.
Bye For Now and Please Stay Safe!
Anna Alemi
Real Estate Broker and Team Leader
RE/MAX AFFILIATES REALTY Inc.,
613.255.4442
Historically, Ottawa's Real Estate Market has been proven to be very steady, strong and resilient. A big factor is due to our economy being mostly supported by Government Employees, who exhibit a very small risk as far as job security goes, they are also extremely conservative in their committing to a large Mortgage that's why we are seeing prices in the Ottawa Markt not necessarily having the big surge, like other market places in Canada, such as Toronto and Vancouver, but we are seeing steady growth. If you look at some historical data you will see that we have had a gradual yet steady increase in prices.
For example, data shows that there was a 160% increase in average residential price from 1960 to 1970;
240% increase from 1970-1980;
220% increase from 1980-1990;
110% from 1990 - 2000;
200% from 2000 - 2010;
170% from 2010 - 2020 (presently)
Furthermore, prior to COVID19, we were seeing a month over year increase, multiple offers on almost all properties as a result of the shortage of inventory. As the Work At Home Order came into effect, we saw the activity in the market drop and the average price touched that of the same last year. However, almost right after we started seeing prices to climb back up. Again we don't have enough data yet to show you what can happen, but we are experiencing bidding wars yet again as a result of even less inventory. Also, after talks with many people in the past few days, we are seeing that there are still many people who are looking to make a move or are looking for great investment opportunities. So I’ll let you form your own opinion about the market.
Also, we are always on the lookout and identifying off Market listings, which represent a great deal for the most part. And I know a lot of you want front of the line access to these, if that’s you, just simply let us know by registering for Free and no obligation
Visit: AnnaAlemi.com/vipbuyer
Be Sure to Continue Following us on all our Social Media Channels as we continue to provide you with Up to Date Local Data and News About Our Market as well as Tips and Tricks with Everything Real Estate.
Bye For Now and Please Stay Safe!
Anna Alemi
Real Estate Broker and Team Leader
RE/MAX AFFILIATES REALTY Inc.,
613.255.4442
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