26 Nov Fall Market Kicks in!
After a wonderful Summer, the Fall real estate market has begun. Hopefullly we will experience the same good pace as the Fall of 2017. We have generally seen market value increase and in some neighborhoods much more than others. The supply of homes for sale has been lower than in 2017, with the Ottawa Real Estate Board reporting approximately 15.9% few active residential properties and 25.2% fewer active condominiums at the end of August 2018.
We are now starting to see more properties come on the market, more clients asking for home evaluations and buyers reviewing their finances. With the new mortgage rules affecting buyers’ qualification and also refinancing, buyers are being more thorough to ensure they get the most for their dollars and adjusting their expectations.
In the past few weeks we have had the opportunity to sponsor the Grassroot Grannies in support of Stephen Lewis Foundation work in sub-Saharan Africa in response to the HIV and AIDS pandemic, and the Western Ottawa Community Resource Centre and Chrysalis House. It is with great pleasure we give back to our local and abroad communities.
We do have clients looking to purchase in the Kanata, Stittsville and surrounding rural areas. If you, a family member or friend are contemplating a move within the year, now is a good time to have your home evaluated and look at your options. As always feel free to call or email if you would like a home evaluation or have any real estate or market questions.
Enjoy the Fall colors and the many events our communities offer!
Joan, Victoria and Luc