Staying in Touch – June Newsletter

Staying in Touch – June Newsletter

Read the full issue of Staying in Touch – June 2024

Happy June & Father’s Day!

With June underway, we are happy to see that we are moving forward, demand is here and there is more supply of homes on the market. The Ottawa Real Estate Board reported 1,545 unit sales in May. Year to date, for the first five months of 2024, home sales increased 5.25% compared to the same period in 2023. The MLS® HPI composite benchmark price was $651,300 in May 2024, an increase of 1.2% from May 2023 and about a 3.3% increase from 3 months ago. Although May unit sales across Ottawa were lower than in May 2023, we see more new listings giving buyers more choice.

The first decrease in interest rates, by the Bank of Canada in some time, will give more confidence to the market and may help to trigger more activity in the Summer months by both purchasers and sellers. “It’s the first time in over four years Canadians have experienced a policy-driven rate cut, a drop in the cost of borrowing that was driven by policy makers as opposed to bond markets that can impact mortgage rates, so it’s a big deal,” said Phil Soper, CEO of Royal LePage.

A great deal of emphasis on property presentation to create a positive first impression is a must when selling your home, especially in Summer months when curb appeal is vital. Buyers have high expectations. We have the ability to view homes through the eyes of buyers and can advise and help you prepare your home for market. Read our blogs: Thinking of Selling Your Home? Consider These Top 3 Improvements First and Landscaping Tips To Increase Your Property Value.

It is important to us to continue to support our community and give back. This month our donation is to the Kanata Food Cupboard. We encourage you to remember this local organization that supports many in our community.

This month we’ve included:

Enjoy June and the many things to do in our beautiful City! Any questions give us a call or email, we would love to chat!

Joan, Victoria & Luc

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