Ottawa Real Estate Market – Months Of Inventory – Melanie Giray – RE/MAX Affiliates Realty LTD.

The Ottawa Real Estate Board has released some housing market statistics, and also I desire share them with you.

I’m Melanie Giray with the Hamre Real Estate Team and RE/MAX Affiliates here in Ottawa.

Today, I particularly want to speak about months of stock.

So, months of inventory is a terrific procedure for figuring out the supply as well as demand stability in the real estate market.

So, the Ottawa Real Estate Board has released that the months of inventory for September of 2022 depends on 3.1% months in contrast to September of 2021, where it was 1.2% months.

This implies that if no new listings were to strike the marketplace, it would certainly take about three months for all of the current supply to sell.

Now, exactly what does this mean if you’re a buyer or if you’re a seller?.

You must be really excited if you’re a customer.

We currently have the capability to reduce that process for you a little. You can go see a residence two times maybe before putting in a deal. You can also go in with conditions, whether that’s a residence assessment, a financing problem, so you can completely protect yourself in this way.

Rate of interest, they’re the warm topic of the media, yet we can still obtain you a five-year fixed rates of interest under 5%, which is remarkable!.

Now, if you’re a vendor, what does this suggest?.

You intend to work with an expert realty representative. It’s no much longer a matter of placing an available sign out on your front lawn as well as waiting on people – buyers to knock on your door.

You really intend to function with a representative who deals with the most effective digital photographers, videographers, stagers, and also who’s truly mosting likely to showcase your home in the absolute best light.

It really makes a distinction. You wish to work with a representative that has a solid marketing plan and also strong negotiation abilities, that’s not mosting likely to leave any kind of money on the table.

So, if you’re a customer or you’re a vendor or you’re wanting to acquire, offer, you have any questions regarding where this leaves you in this existing market, send me a message. I love connecting with you men, and I wish every person has an impressive day and is taking pleasure in the beautiful loss weather condition.