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Market Report - Sept. 2024.

September featured a brisk market, with sales rising 11.4% versus September of last year. Prices have been stable, the September monthly average price of 685k slightly nudges the year-to-date average of 679k. Months of inventory have increased to 3.4, a .4 jump over August as a jump in new listings continue to add to the supply, giving buyers even more choice for homes.

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August inflation cooled unexpectedly to 2.0%.  Largely driven by housing costs, the snowball affect of declining home costs will continue to weigh down inflation further.  The BOC needs to get ahead of inflation to prevent a soft economy from deteriorating further. 
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Market Summary - June 2024

The Ottawa market continues to slowly chug along, but inventory has now ticked up to an 8 year high to 2.5 months.  Buyers have more choice than ever, but properties that are priced and marketed well still sell quickly.  Buyers should also be cognizant of quick market shifts and to react accordingly.

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Categories:   Ottawa Real Estate
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