“Eventually, interest rates will go back down, and then people are going to (scramble) trying to buy everything up,” Paul Rushforth predicts, adding city could see “a mini version" of 2021's frenzy.
Board says the number of condos listed for sale is 25 per cent higher than a year ago, and properties are staying on the market longer.
While sales of condominiums rose 22 per cent year-over-year to 481, the number of new units added to the market jumped 70 per cent compared with October 2019.
The average house price in the capital jumped 28 per cent year-over-year to $622,557, the Ottawa Real Estate Board says.
The average sale price of a residential-class property was $585,084 last month, up a whopping 20 per cent compared with July 2019.
In a study released this week, the Real Estate Investment Network predicts Ottawa will be the only one of the five major Canadian markets it surveyed that will avoid a housing slump in 2020.
Home sales in Ottawa plummeted more than 60 per cent in the first two weeks of April compared with a year earlier, while a major realty firm is predicting prices will remain stagnant through the rest…
The COVID-19 pandemic appears to be slowing activity in Ottawa’s housing market, which seemed primed to continue surging in the first few months of the year
Plus, Ottawa realtors share their picks for the capital’s hottest neighbourhoods
In an industry where the 'personal touch' can make or break a sale, the new age of social distancing has prompted Ottawa’s realtors to rethink their tools of the trade