Is Ottawa Real Estate in a Seller’s Market? Rudsworth July 6, 2017 Home & Garden, July 2017 HK By, Douglas Pritchard Ottawa’s real estate market appears to be in what the industry calls a seller’s market. This is a state in the balance of available homes and demand for homes that favours the seller. While it is not a seller’s market everywhere at the same time, the trend can be seen across the city as a whole. According to the Ottawa Real Estate Board (OREB), the average price of a residential property has risen 7.9 per cent over the same period in 2016 to nearly $436,000. This certainly is a sign of things heating up at least. OREB data suggests that there was a 4.9% increase in sales volume in April 2017, as compared to April 2016. Take a look around your neighbourhood. Do you see for sale signs? Do they stay there long, or do they become sold signs quickly? If the for sale signs are few and far between and they become sold signs quickly, you could say that this is likely a seller’s market. This doesn’t mean that the seller can write their own price. The market is still the mechanism that dictates the price of a home. While it might be easier to sell in a seller’s market, there are still things that need to be done to properly reflect your home. Your REALTOR should be able to provide you with a snapshot of what the market is doing in your area and will likely have suggestions for how to make your home stand out. Click here: https://ottawarealestate.blog/2017/06/26/this-little-house-went-to-market/ for a great example of what I am talking about. When you are looking for some helpful hints, you only have to look as far as your RE/MAX agent. Douglas Pritchard is sales representative with RE/MAX Affiliates realty ltd., brokerage, All offices independently owned and operated. To learn more about the Ottawa Real Estate market please contact Douglas Pritchard at: help@DouglasPritchard.ca DIRECT: 613-558-6683 or OFFICE 613-825-8683. Visit my website at: http://www.douglaspritchard.ca/ Leave a Reply Cancel ReplyYour email address will not be published.CommentName* Email* Website Save my name, email, and website in this browser for the next time I comment.