05 Aug Staying in Touch – August 2022
Staying in Touch – August 2022
To read the full issue of Staying in Touch August 2022
Happy August!
It’s hard to believe that it is August and we are half way through Summer. We certainly have been feeling the heat! Many of us are starting to enjoy some holidays with family and friends!
The overall real estate market has increased in supply of properties on the market and the length of time to sell is a little longer, we are heading for a balanced market. A market is considered balanced when there is at least four months of inventory available. Buyers now have more opportunity and time to submit an offer and conditional offers are starting to be considered which does take some of the pressure off when trying to purchase a home. Stats from the Ottawa Real Estate Board show that prices are still up over 2021. Keep in mind that sales and prices are compared to the previous year and given the record breaking 2021, it is realistic that we may not see the same growth but overall still above pre-pandemic levels.
It is always difficult to make predictions on the market but we all need somewhere to live which will help keep our market going. It is important to follow our dreams for the future, whether it be rightsizing or changing our lifestyles, we should have a plan.
When planning to purchase or sell it is important to have a qualified person guide you and show you the steps. This is our expertise and we would be happy to guide you.
Our August newsletter is out, in this issue: Learn more about the latest in the Ottawa real estate market, mortgage news, events, Home Energy Saving Tips that Won’t Leave You Shivering or Sweating, Questions to ask When Selling Your Home, How to keep your Home Safe While on Vacation & more! You can find more details in our newsletter.
Click here to read the full newsletter!
Joan, Victoria and Luc
The Joan Smith Real Estate Family
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