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🏡 Ottawa Real Estate Insider-Dec

 

Ottawa Real Estate Insider

Dec 2023

As December unfolds its magic once more, it's that time of the year that grants us the opportunity to unwind, cherish moments with loved ones, reflect on the year gone by, and eagerly anticipate the one ahead. Make the most of this festive season, and may you have a joyous and rejuvenating holiday break.

Market Update

The latest Ottawa residential real estate market update has been released.

Highlights

1. By the Numbers – Prices:

- The average price of homes sold in November 2023 was $633,138, making a slight decrease of 0.8% from November 2022. The year-to-date average price was $669,536, a decline of 5.7% from 11 months of 2022.

- The total dollar value of home sales in November 2023 was $458.4 million, a 2.4% decrease from the same month in 2022.


2. Performance in Colder Months:

The market is meeting expected performance levels during the colder months, and a surge in new and active listings is introducing more choices. Although the increased options may imply a slowdown in the pace of buying and selling, it doesn't suggest that individuals looking to enter or upgrade in the market should take a passive approach. Prospective buyers and those aiming to upgrade can work closely with me to navigate the market thoroughly, identify the ideal property, and negotiate a favorable deal at their preferred pace.


3. Seller Tips:

Sellers, it's essential to manage expectations regarding offer volume and transaction speed. I am here to assist you in confidently setting pricing and preparing your home for a successful sale.


Thank You

Thank you for reading.

Please continue to reach out to me for your real estate needs.

Take care and enjoy a wonderful holiday season!

Xing


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