Ottawa Market Conditions

The Market is more cautious since September 2008 for both Buyer's and Sellers. This more cautious market is mainly reflected on larger higher priced homes over $500,000.

Essentially as the US and Canadian Stock markets have dropped then not fully recovered many people are less sure of there wealth and are not buying or more carefully buying the High End Homes. The Market for freehold homes from $250,000. to $500,000. will see price increase of 4.5 to 5.5% this year.

The long term prospects are excellent for Ottawa based on various reports from CMHC, The Region of Ottawa Carleton's Long Term Plan and other industry commentators.

All this means for now is if you wish to move up in price between now and the Summer of 2009 would be a good time especially for Higher priced homes. Interest Rates are still very low and will continue to be so for this year.. That means Buyer can pay more and Sellers can get more. A win win situation for both!

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Mike has answers to your questions and more professional tips to make your real estate transaction more pleasurable. Call or e-mail Mike or click on "Ask Your Own Questions." Mike can send you information on any Property Listed For Sale on the Multiple Listing Service in the Ottawa area. If you would like him to help you locate a home, please fill out his Information Request Form. Surfing the Real Estate Board's web site or MLS.CA and found a house that you like but doesn't give you the civic address. Mike can also help. Just fill out his Would like an address form, please ! Or perhaps you are considering selling your home in the near future, he can also offer you a Free No-Obligation Market Evaluation Form.

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