January 2022 is off to a great start for real estate in Ottawa. Inventory is extremely low and prices are appreciating. Most homes are selling with multiple offers and well above asking prices.
For sellers, this is a great time to list. You can expect to sell your home in about one week with 10-30+ showings and multiple offers. With a correct listing and marketing strategy, sellers can expect to receive tens of thousands of dollars over their expected selling price.
For buyers, the market is very competitive and should expect to bid on 1-3+ homes before securing a deal.
As seen in the chart below, prices are up about 15% since January 2021.