Ottawa Home Prices Are Down And Sellers Are Feeling The Pressure

Ottawa home prices may be holding relatively steady, but that does not mean the market has bounced back. Buyers are taking their time, sellers are adjusting expectations, and some Ottawa homes are selling for less than their owners paid just a few years ago.

This week we have Greg Campbell with us to discuss what he is seeing across Orleans, Barrhaven, Kanata and other Ottawa neighbourhoods, including falling sales volumes, detached home prices, townhouse prices, condo inventory and the growing gap between asking prices and what buyers are actually willing to pay.

We also look at why some sellers are choosing not to list at all, how return to work could be shifting demand toward Ottawa's downtown neighbourhoods, and why more complex mortgage files are creating additional challenges for buyers. From self employed income and multiple income sources to unusual down payment situations, lenders are asking more questions and requiring more documentation.

00:13 Intro

00:57 Greg's recent activities and market perspective

01:45 Market mood and seller expectations

03:25 Buyers' and sellers' strategies in a declining market

04:10 Market data and property sale trends in Ottawa

05:31 Ottawa's price stability and neighborhood analysis

07:20 Impact of interest rates and mortgage complexity

08:36 The importance of using knowledgeable Mortgage Brokers

09:41 Consumer confidence and economic outlook

10:10 Predictions for interest rate movements

11:21 Protecting Real Estate Transactions

14:00 Ottawa neighborhood stats and market data