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2016 Ottawa Real Estate Market Outlook

Posted on: January 11th, 2016 by Chris Scott

Ok, so you have just been posted to Ottawa. Congrats, Ottawa is an amazing city to be transferred to. It is important to get yourself familiarized with our real estate market. Here is what 2016 is shaping up to be in Ottawa Real Estate:

At this time of year I am a maven for any information about the housing market. Every January I go through statistical reports from CMHC, newspapers, brokerages, economists, and our local real estate board. My objective in this research is to try and get a feel for where the market is heading in the upcoming year.  What interests me is that there are so many different options depending on who you talk to or what you read. I will add my thoughts into the mix for you to consider.

I am predicting a very similar real estate market for 2016 to the one we just experienced this past year. Sales will be steady, inventory will be higher then normal, and conditions will remain fairly balanced. We will see sales levels at near historical highs. We will also see hiThe buyer may have a slight advantage depending on location and market segment. For instance, the condo market remains an area of concern. Inventory levels are very high and condo developers still seem bullish on this market and continue to build. There is too much supply to match the demand. We could see downward pressure on prices in the condo market again this year.  This will remain a buyers market.

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