In June 2019, 39% of homes in Ottawa sold over asking. There are still more buyers than sellers, making it a very attractive time to consider selling your home.
Over the past ten years, homes in Ottawa have had an incredible 52% increase. There's a great saying: "Don't wait to buy real estate, buy real estate and wait". The Ottawa real estate market is a safe and stable market for investors and homeowners. Personally, I have lost money in the stock market, but never in real estate.
In a hot market like this, many of my buyers are concerned about overpaying or concerned about the market going down, these scenarios are highly unlikely. I always say that prices won't go down, they will just stop increasing at such a rapid pace. The condominium market is also doing very well in Ottawa, with buyers who purchased in 2013 finally being able to recover and profit from their investment.
What is causing this shift in the market? Well, Ottawa is a growing city, and the population finally just hit over 1 million. There are a number of jobs, and many investors are finding this an attractive city to invest in.
If you are looking to buy in Ottawa, it is more important than ever to have a knowledgeable, professional Realtor® working on your behalf to help you find your next home. If you or anyone you know is considering buying or selling your next home, call Megan Razavi for reliable, professional advice that you can count on.