Resale Market Stabilizes in February with a Glimmer of Hope for Buyers and Sellers Alike!

Members of the Ottawa Real Estate Board (OREB) sold 855 residential properties in February through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,411 in February 2022, a decrease of 39%. February’s sales included 633 in the freehold-property class, down 42% from a year ago, and 222 in the condominium-property category, a decrease of 31% from February 2022. The five-year average for total unit sales in February is 1,157.

“We’re going to see declines in transactions and prices when we compare current figures to last February — the height of the pandemic resale market activity,” says Ottawa Real Estate Board’s President Ken Dekker. “On the other hand, with the Bank of Canada holding interest rates steady, prospective buyers have more budget certainty to work with as we head into the spring market.”

By the Numbers – Average Prices*:

• The average sale price for a freehold-class property in February was $708,968, a decrease of 15% from 2022. However, it marks a 5% increase over January 2023.

• The average sale price for a condominium-class property was $410,927, decreasing 12% from a year ago.

• With year-to-date average sale prices at $695,086 for freeholds and $411,449 for condos, these values represent a 14% decrease over 2022 for freehold-class properties and a 10% decrease for condominium-class properties.

“The average price increase for freeholds over January could be an indicator that buyers have normalized to the current interest rates. And perhaps, it’s a glimmer of more activity to come in the months ahead.”

By the Numbers – Inventory & New Listings:

• Months of Inventory for the freehold-class properties has increased to 2.8 months from 0.7 months in February 2022.

• Months of Inventory for condominium-class properties has increased to 2.5 months from 0.7 months in February 2022.

• February’s new listings (1,366) were 22% lower than February 2022 (1,762) and up 3% from January 2023 (1,323). The 5-year average for new listings in February is 1,632.

• Days on market (DOM) for freeholds decreased from 43 to 37 days and 47 to 43 days for condos compared to last month.

“A decrease in the days on market, paired with fewer new listings entering the market, is good news for sellers,” says Dekker. “However, if that trend continues to impact our supply stock and we don’t get more inventory, our otherwise balanced market could swing back into seller’s territory — but it’s too early to predict.”

“The best advice for sellers and buyers in today’s market is to pay close attention to the comparison and competition insights only a REALTOR® can offer. Ottawa is made up of many micro-markets, and neighbourhood-level data is vital to standing out and closing deals.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 995 properties compared to 800 last year at this time, an increase of 24%.

* OREB cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price will vary from neighbourhood to neighbourhood.

(SOURCE: OREB)

"1月份的单位销售量比2022年明显放缓，表明潜在的购房者正在慢慢来，" OREB主席Ken Dekker说。"虽然上个月看到加拿大银行宣布的连续加息的高潮，负担能力仍然是一个因素。他们可能在等待上市价格的转变。在不确定的条件下，他们正在谨慎行事。"

1月份公寓级房产的平均售价为$412,244，比2022年下降了8%。
住宅类房产的平均售价为$676,272，比一年前下降了12%。

"尽管平均价格下降，但不应该认为市场在下滑，"Dekker说。"超强的卖方市场现在已经趋于平缓，达到我们目前的平衡市场状态。"

"从积极的方面看，与12月的数据相比，1月的住宅类房产的平均价格增加了3%。公寓的平均价格与12月相比确实下降了5%，但由于数据量小，公寓的价格往往波动较大。"

从数字上看--库存量和新上市的房源数量。

住宅类房产的库存月数已从2022年1月的0.9个月增加到3.8个月。
公寓类房产的库存月数从2022年1月的0.8个月增加到了3.8个月。

1月的新挂牌房源（1324套）比2022年同期（1142套）高16%，比2022年12月（699套）高89%。

1月份的新挂牌房源的5年平均数为1233套。

"渥太华的库存和上市天数是典型的平衡市场，也是买家不再竞相报价的一个迹象，"德克说。"新上市房源和供应量的增加对购房者来说是一个福音，他们现在有了更多的选择，能够以不那么疯狂的速度带着条件下offer。房地产经纪人是为合适的买家找到合适的房产的重要资源。在交易的另一方，房地产经纪人可以帮助卖家，在定价是关键的时候，更好地了解如何在他们的社区销售。

（通过www.DeepL.com/Translator翻译, 数据来源于渥太华地产局OREB。内容均由红宝地产团队整理归纳，仅供参考）

Resale Market Starts Slow as Buyers Remain Cautious

Members of the Ottawa Real Estate Board (OREB) sold 606 residential properties in January through the Board’s Multiple Listing Service® (MLS®) System, compared with 933 in January 2022, a decrease of 35%. January’s sales included 460 in the freehold-property class, down 30% from a year ago, and 146 in the condominium-property category, a decrease of 47% from January 2022. The five-year average for total unit sales in January is 819.

“January’s marked slow down in unit sales over 2022 indicates potential home buyers are taking their time,” says OREB President Ken Dekker. “While last month saw the culmination of the succession of interest rate hikes announced by the Bank of Canada, affordability remains a factor. They may be waiting for a shift in listing prices. They’re being cautious in uncertain conditions.”

By the Numbers – Average Prices*:

• The average sale price for a condominium-class property in January was $412,244, a decrease of 8% from 2022.

• The average sale price for a freehold-class property was $676,272, decreasing 12% from a year ago.

“Despite the decrease in average prices, the market should not be considered on a downward slide,” says Dekker. “A hyper COVID-19 seller’s market is now leveling out to our current balanced market state.”

“On a positive note, in comparison to December’s figures, January’s average price of freehold properties increased by 3%. The average price of condos did fall by 5% compared to December but condo pricing tends to fluctuate more due to the small data set.”

By the Numbers – Inventory & New Listings:

• Months of Inventory for the freehold-class properties has increased to 3.8 months from 0.9 months in January 2022.

• Months of Inventory for condominium-class properties has increased to 3.8 months from 0.8 months in January 2022.

• January’s new listings (1,324) were 16% higher than 2022 (1,142) and up 89% from December 2022 (699). The 5-year average for new listings in January is 1,233.

“Ottawa’s inventory and days on market figures are typical for a balanced market and another sign that buyers are no longer racing to put in an offer,” says Dekker. “The increase in new listings and supply is a boon for home buyers, who now have more selection and the ability to put in conditions at a less frantic pace. REALTORS® are an essential resource in finding the right property for the right buyer. On the other side of the transaction, REALTORS® can help sellers with hyper-local insights about how to sell in their neighbourhood at a time when pricing is key.”

More people are turning to REALTORS® for help renting properties — 509 this month compared to 410 in January 2022, an increase of 24%. “Even with the increase in housing stock, the tighter rental market is another indication that affordability is keeping some potential buyers on the sidelines.”

* OREB cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price will vary from neighbourhood to neighbourhood.

(SOURCE: OREB)

Members of the Ottawa Real Estate Board (OREB) sold 601 residential properties in December through the Board’s Multiple Listing Service® (MLS®) System, compared with 857 in December 2021, a decrease of 30%. December’s sales included 466 in the residential-property class, down 22% from a year ago, and 135 in the condominium-property category, a decrease of 48% from December 2021. The five-year average for total unit sales in December is 775.

Residential and condo resales in 2022 totaled 15,288, compared with 20,289 in 2021, decreasing 25%. Total sales volume in 2022 was approximately $10.5B compared to $13B in 2021.

“Even with the normal seasonal slowdown, December’s performance was in stark contrast to the very active resale market that opened 2022,” says Ken Dekker, OREB’s newly installed 2023 President. “As interest rates and inflation both climbed, buyers retreated to the sidelines and began taking a wait and see approach. However, while it’s quieter than the frantic pace we experienced in 2021, it is now a balanced market.”

By the Numbers – Average Prices*:

• The average sale price for a condominium-class property in December was $434,973, an increase of 9% from 2021.

• The average sale price for a residential-class property was $655,839, decreasing 7% from a year ago.

• With year-to-date average sale prices at $769,623 for residential units and $453,770 for condominiums, these values represent a 7% increase over 2021 for residential-class properties and an 8% increase for condominium-class properties.

“Although market activity tapered off in later 2022, there was an immense amount of activity in the spring at high prices,” says Dekker. “This will be an important caveat to consider as we begin comparing 2023 numbers to the previous year.”

By the Numbers – Inventory & New Listings:

• Months of Inventory for the residential-class properties has increased to 3.7 months from 0.9 months in December 2021.

• Months of Inventory for condominium-class properties has increased to 3.9 months from 0.9 months in December 2021.

• December’s new listings (699) were 17% higher than 2021 (600) and down 56% from November 2022 (1,598). The 5-year average for new listings in December is 662.

“The leading economic force behind Ottawa’s rapid appreciation in the past five years is chronic supply insufficiency,” says Dekker. “It intensified during the pandemic as prospective purchasers capitalized on incredibly low interest rates. Today’s higher rates are slowing down building projects, which exacerbates the low supply issue.”

“Since Ottawa is made up of hyper-local markets, it is a difficult ecosystem to forecast,” says Dekker. “Plus, there are a multitude of factors influencing a changing economic environment these days that will dictate how much activity the resale market will see in 2023. REALTORS® have access to expert insights and industry resources that can help buyers and sellers navigate the complexities.”

REALTORS® also help with finding rentals and vetting potential tenants. OREB Members have assisted clients with renting 6,105 properties this past year compared to 4,813 in 2021.

(SOURCE: OREB)

渥太华地产局（OREB）成员在12月通过该局的多重上市服务®（MLS®）系统售出601套住宅物业，与2021年12月的857套相比，下降了30%。12月的销售包括466个住宅物业类别，比一年前下降22%，135个公寓物业类别，比2021年12月下降48%。12月的总单位销售量的五年平均值为775套。
2022年的住宅和公寓转售总量为15288套，与2021年的20289套相比，下降了25%。2022年的总销售量约为105亿加币，而2021年为130亿加币。
"即使有正常的季节性放缓，12月的表现与2022年开幕时非常活跃的转售市场形成了鲜明的对比，"OREB新上任的2023年主席Ken Dekker说。"随着利率和通货膨胀率的攀升，买家退居幕后，开始采取观望态度。然而，虽然它比我们在2021年经历的疯狂步伐要安静，但它现在是一个平衡的市场。"

从数字上看--平均价格*:
12月，公寓类房产的平均售价为434,973加币，比2021年增长了9%。住宅类房产的平均售价为655,839加币，比一年前下降了7%。
今年迄今为止，住宅的平均售价为769,623加币，公寓的平均售价为453,770加币，这些价值代表了住宅级房产比2021年增长了7%，公寓级房产增长了8%。
"虽然市场活动在2022年后期逐渐减少，但在春季有大量的高价活动，"德克说。"当我们开始将2023年的数字与前一年进行比较时，这将是一个需要考虑的重要注意事项。"

从数字上看--库存和新上市房源:
住宅类房产的库存月数已从2021年12月的0.9个月增加到3.7个月。公寓类房产的库存月数从2021年12月的0.9个月增加到了3.9个月。
12月的新房源（699套）比2021年（600套）高17%，比2022年11月（1598套）下降56%。12月新挂牌房源的5年平均数为662套。
"渥太华在过去五年中快速升值的主要经济力量是长期供应不足，"德克说。"在大流行期间，由于潜在的购买者利用难以置信的低利率，这种情况加剧了。今天较高的利率使建筑项目放缓，这加剧了低供应问题。"
"由于渥太华是由地方市场组成的，所以这是一个很难预测的生态系统，"德克说。"此外，现在有许多因素影响着不断变化的经济环境，这将决定2023年转售市场的活动程度。房地产经纪人®有机会获得专家的见解和行业资源，可以帮助买家和卖家驾驭这些复杂的情况。"
房地产经纪人®还帮助寻找租房和审查潜在的租户。OREB会员在过去的一年里帮助客户租赁了6,105处房产，而2021年为4,813处。
（通过www.DeepL.com/Translator翻译, 数据来源于渥太华地产局。内容均由红宝地产团队整理归纳，仅供参考）

渥太华地产局成员在11月通过该局的多重上市服务系统售出了846套住宅物业，与2021年11月的1456套相比，下降了42%。11月的销售包括658套住宅，比一年前下降了39%。188套公寓，比2021年11月下降了50%。11月总单位销售的五年平均值为1270套。

"鉴于每年这个时候的典型放缓，11月的销售量是意料之中的低，但它们也反映了当今的经济状况，"OREB的2022年主席Penny Torontow说。"这并不是孤立于我们的本地市场。在全球范围内，我们仍在适应流行病后的世界，这影响了需求、定价、利率、生活成本、供应链中断等等。因此，那些有能力的人正在等待和观察。"

从数字上看--平均价格。

11月公寓类房产的平均销售价格为$415,533，比2021年下降了4%。
住宅类房产的平均售价为$680,031，比一年前下降了5%。
年初至今，住宅的平均售价为$774,422，公寓的平均售价为$454,436，这些价值比2021年的两类房产都增长了8%。

从数字上看--库存和新房源。

住宅类房产的库存月数已从2021年的0.9个月增加到3.5个月。
公寓类房产的库存月数从2021年的1.1个月增加到3.4个月。
11月的新房源（1598套）比2021年（1429套）高12%，比2022年10月（2046套）下降22%。11月新挂牌房源的5年平均值为1398套。

"由于近四个月的库存和平均30天的上市时间，渥太华现在有一个平衡的转售市场，略微倾向于买家，"Torontow说。"卖家最好与房地产经纪人合作，他们对特定社区、适当的价格点和理想的时机有超强的本地知识。价格正在调整，但房地产是一项长期投资。这与我告诉买家要与房子结婚并与房价约会的原因相同。"

（通过www.DeepL.com/Translator翻译, 数据来源于渥太华地产局。内容均由红宝地产团队整理归纳，仅供参考）

Members of the Ottawa Real Estate Board (OREB) sold 846 residential properties in November through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,456 in November 2021, a decrease of 42%. November’s sales included 658 in the residential-property class, down 39% from a year ago, and 188 in the condominium-property category, a decrease of 50% from November 2021. The five-year average for total unit sales in November is 1,270.

“November’s sales were expectedly low given the typical slowdown this time of year but they also reflect today’s economic conditions,” says Penny Torontow, OREB’s 2022 President. “This is not isolated to our local market. Globally, we’re still adjusting to the post-pandemic world and that affects demand, pricing, interest rates, cost of living, supply chain disruptions and more. As a result, those who can, are waiting and watching.”

By the Numbers – Average Prices*:

• The average sale price for a condominium-class property in November was $415,533, a decrease of 4% from 2021.

• The average sale price for a residential-class property was $680,031, decreasing 5% from a year ago.

• With year-to-date average sale prices at $774,422 for residential units and $454,436 for condominiums, these values represent an 8% increase over 2021 for both property classes.

“What’s concerning about the current market is the impact on first-time homebuyers,” says Torontow. “The marked decrease in condo sales, for example, signals that even entry-level properties are being affected. Fluctuating markets, paired with the stress test, are keeping first-time buyers on the sidelines in a tight rental market—with MLS® rentals increasing 27% this year over last.”

By the Numbers – Inventory & New Listings:

• Months of Inventory for the residential-class properties has increased to 3.5 months from 0.9 months in 2021.

• Months of Inventory for condominium-class properties has increased to 3.4 months from 1.1 months in 2021.

• November’s new listings (1,598) were 12% higher than 2021 (1,429) and down 22% from October 2022 (2,046). The 5-year average for new listings in November is 1,398.

“With nearly four months of inventory and an average 30 days on market, Ottawa now has a balanced resale market, slightly tipping toward the buyers,” says Torontow. “Sellers are well-advised to work with a REALTOR® who has hyper-local knowledge about specific neighbourhoods, appropriate price points and ideal timing. Prices are adjusting but real estate is a long-term investment. It’s the same reason I tell buyers to marry the house and date the rate.”

(SOURCE: OREB)

渥太华地产局的成员在10月份通过该局的多重上市服务系统售出了987套住宅物业，与2021年10月的1670套相比，下降了41%。10月份的销售包括758套住宅，比一年前下降了40%。229套公寓，比2021年10月下降了44%。10月份的总单位销售量的五年平均数为1554套。

"在经历了过去两个大流行年的波动，这是不可持续的，市场正在纠正和调整，"渥太华房地产委员会主席Penny Torontow说。"加拿大银行的加息加剧了市场的放缓，这进一步加剧了买家的犹豫不决，削弱了人们的购买力--尤其是首次购房者。"

"需求仍然很高，而且随着可用库存的增加，买家有更多的选择和时间来选购他们的新房。然而，对价格和利率走向的持续猜测动摇了消费者的信心，使一些潜在的买家采取了观望的态度。"

"她补充说："卖家可能对市场波动感到担忧，这是可以理解的，最近的波动更加剧烈。"与任何重大投资一样，长期的观点是很重要的。过去两年的大幅同比收益是不可持续的。如果你已经拥有了你的房产很长一段时间，你的资产已经大大增加，并将缓冲价格的调整。如果你在同一个市场买入和卖出，这都是相对的。"

从数字上看--库存和新上市的房产。住宅类房产的库存月数已从2021年的1个月增加到3.3个月。公寓类房产的库存月数从2021年的1.2个月增加到了3个月。

10月份的新房源（2047套）比2021年（1960套）高4%，比2022年9月（2371套）下降14%。10月新上市的5年平均数是1971套。

"买家和卖家需要仔细分析自己的独特情况。没有人可以绝对肯定地预测明年会发生什么，但在高度就业和稳定的渥太华市场，房地产一直是并将继续是一个良好的投资，"托伦托说。"他们没有水晶球，但抵押贷款经纪人和房地产经纪人拥有教育、专业知识--最重要的是，拥有数据，可以帮助人们根据他们的具体情况做出明智的决定。"

从数字上看--平均价格。10月份公寓类房产的平均售价为$445,691，比2021年增长了9%。住宅类房产的平均售价为$677,873，比一年前下降了5%。

今年迄今为止，住宅的平均售价为$780,390，公寓的平均售价为$456,470，这些价值代表了住宅级房产比2021年增长了8%，公寓级房产增长了9%。

房地产经纪人还帮助寻找租房和审查潜在的租户。自今年年初以来，OREB会员已协助客户租赁了5186处房产，而去年此时为4012处。

（通过www.DeepL.com/Translator翻译, 数据来源于渥太华地产局。内容均由红宝地产团队整理归纳，仅供参考）

Members of the Ottawa Real Estate Board sold 987 residential properties in October through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,670 in October 2021, a decrease of 41%. October’s sales included 758 in the residential-property class, down 40% from a year ago, and 229 in the condominium-property category, a decrease of 44% from October 2021. The five-year average for total unit sales in October is 1,554.

“After the volatility of the past two pandemic years, which was unsustainable, the market is correcting and adjusting,” says Penny Torontow, Ottawa Real Estate Board President. “The slowdown is compounded by Bank of Canada interest rate increases, which further exacerbates buyer hesitancy and weakens people’s purchasing power—especially first-time homebuyers.”

“Demand is still high, and with increasing inventory available, Buyers have more choices and time to shop for their new home. However, the ongoing speculation about where prices and interest rates are headed shakes consumer confidence and has made some prospective Buyers take a wait-and-see approach.”

“Sellers may be understandably concerned about market fluctuations, which have been more drastic lately,” she adds. “As with any major investment, a longer-term perspective is important. The significant year-over-year gains of the last two years were not sustainable. If you have owned your property for any length of time, your equity has increased significantly and will buffer price corrections. If you buy and sell in the same market, it is all relative.”

By the Numbers – Inventory & New Listings:

• Months of Inventory for the residential-class properties has increased to 3.3 months from 1 month in 2021.

• Months of Inventory for condominium-class properties has increased to 3 months from 1.2 months in 2021.

• October’s new listings (2,047) were 4% higher than 2021 (1,960) and down 14% from September 2022 (2,371). The 5-year average for new listings in October is 1,971.

“Buyers and Sellers need to carefully analyze their own unique circumstances. No one can predict with absolute certainty what will happen next year, but in the highly employed and stable Ottawa market, real estate has been and continues to be a good investment over time,” says Torontow. “They don’t have a crystal ball, but mortgage brokers and REALTORS® have the education, expertise—and most importantly, the data—to help people make an informed decision for their specific situation.”

By the Numbers – Average Prices*:

• The average sale price for a condominium-class property in October was $445,691, an increase of 9% from 2021.

• The average sale price for a residential-class property was $677,873, decreasing 5% from a year ago.

• With year-to-date average sale prices at $780,390 for residential units and $456,470 for condominiums, these values represent an 8% increase over 2021 for residential-class properties and a 9% increase for condominium-class properties.

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 5,186 properties compared to 4,012 last year at this time.

(SOURCE: OREB)

渥太华地产局成员在9月份通过该局的多重上市服务系统售出1080套住宅物业，与2021年9月的1601套相比，下降了33%。9月的销售包括816套住宅，比一年前减少34%，264套公寓，比2021年9月减少27%。9月总单位销售的五年平均数为1586套。

"9月较低的销售业绩反映了买家在观察利率上升和考虑围绕价格趋势的投机时继续犹豫不决。渥太华房地产委员会主席Penny Torontow说："随着利率的上升，抵押贷款压力测试已经使一些潜在的买家靠边站，而其他人可能在通货膨胀和生活成本增加的情况下仔细检查他们的预算是否可以承受。

"另一方面，我们看到进入市场的新房源数量有所上升，不仅高于上个月，也高于去年，以及五年的平均水平。这种趋势继续使转售市场更加平衡，这通常意味着买家和卖家有更多的时间来权衡他们的选择，并根据他们的需求进行调整，"她补充说。

- 住宅类房产的库存月数已从2021年的1.2个月增加到3.1个月。

- 公寓类房产的库存月数从2021年的1.6个月增加到2.7个月。

- 9月的新房源（2371套）比2021年（2252套）高5%，比2022年8月（2091套）高13%。

"价格正趋于稳定，每个月都有轻微的变动，而同比而言，我们看到渥太华转售市场以缓慢和稳定的增长而闻名。由于每个社区的情况不同，买家要咨询当地的房地产经纪人，他们可以利用价格趋势的专有数据和专家的见解来帮助他们驾驭市场的变化，"Torontow建议说。

- 9月份公寓类房产的平均售价为450,987加币，比2021年增长了6%。

- 住宅类房产的平均售价为706,658加币，比一年前增长了0.5%。

- 今年迄今为止，住宅的平均售价为788,535加币，公寓的平均售价为457,189加币，这些价值比2021年的两类房产都增加了9%。

房地产经纪人还帮助寻找租房和审查潜在的租户。自今年年初以来，OREB会员已协助客户租赁了4,678处房产，而去年这个时候只有3,598处。

（通过www.DeepL.com/Translator翻译, 数据来源于渥太华地产局。内容均由红宝地产团队整理归纳，仅供参考）

Members of the Ottawa Real Estate Board sold 1,080 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,601 in September 2021, a decrease of 33%. September’s sales included 816 in the residential-property class, down 34% from a year ago, and 264 in the condominium-property category, a decrease of 27% from September 2021. The five-year average for total unit sales in September is 1,586.

“September’s lower sales performance reflects continued hesitancy among Buyers as they watch interest rates rise and consider the speculation surrounding price trends. With rising interest rates, the mortgage stress test has sidelined some potential Buyers, while others are likely scrutinizing their budgets for affordability amidst inflation and cost of living increases,” says Ottawa Real Estate Board President Penny Torontow.

“On the other hand, we have seen an uptick in the number of new listings entering the market, which were not only higher than last month but also last year, and the five-year average. This trend continues to bring the resale market into more balance, which generally means more time for Buyers and Sellers to weigh their options and to adjust according to their needs,” she adds.

By the Numbers – Inventory & New Listings:

• Months of Inventory for the residential-class properties has increased to 3.1 months from 1.2 months in 2021.

• Months of Inventory for condominium-class properties has increased to 2.7 months from 1.6 months in 2021.

• September’s new listings (2,371) were 5% higher than 2021 (2,252) and 13% higher than August 2022 (2,091).

“Prices are stabilizing with slight month-to-month movement, whereas, year over year we are seeing the slow and steady increases that the Ottawa resale market is known for. As every neighbourhood is different, Buyers will want to consult a local REALTOR® who can tap into proprietary data on price trends and expert insights to help them navigate market shifts,” Torontow advises.

By the Numbers – Average Prices*:

• The average sale price for a condominium-class property in September was $450,987, an increase of 6% from 2021.

• The average sale price for a residential-class property was $706,658, increasing 0.5% from a year ago.

• With year-to-date average sale prices at $788,535 for residential and $457,189 for condominiums, these values represent a 9% increase over 2021 for both property classes.

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 4,678 properties compared to 3,598 last year at this time.

(SOURCE: OREB)