Back in April I flagged for people that the market appeared to be getting ready to shift. A lot of folks didn’t believe me- including some agents. Well, the shift is now underway. So far, Ottawa has escaped the largest cuts, but the rest of the province has been hit hard.
For example, the once booming Toronto market saw sales drop 41% and prices drop 3% in June. Toronto prices are down 11% since February.
Ottawa is not as bad and while sales have declined, we have not yet seen the price drop as in Toronto. What we are seeing is more listing cancel, homes taking longer to sell, and a lot more price adjustments.
It is worth checking out the Ottawa video for the regional numbers and the individual videos for different communities. Some of the most popular towns have seen a significant drop in sales.
The good news is that well priced homes always sell but you have to do your homework so that your expectations are logical, and you have to have a good agent. The day when an agent could put a home up on MLS, sit back and have it sell in a couple of days are over. Pricing skills, marketing skills and negotiating skills are essential now.
Check out what I am saying. A link to our market statistics page is found HERE.
We also post these videos and other information on our Facebook pages “Beardsley Real Estate Team” and “Ottawa Country Homes and Lifestyles”. Please “LIKE” and follow those pages.
If you have questions, we have answers, just call or text us at 613-897-6839.
Take care and stay safe
Keith Beardsley, Sales Representative, Seniors Specialist, Seller Specialist with Royal LePage Team Realty. How can we help you today? Call or text 613-897-6839. We serve the many rural communities south of Ottawa. WE SELL COUNTRY! WE HELP SENIORS SELL!
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