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Market Update March 2024

Posted by admin on April 8, 2024

Market Insights

Ottawa & Lanark County Real Estate Market Update March 2024 statistics are in for this quarter.

Everyone is suspecting the market to increase with limited inventory. Price are steadily climbing.

I am seeing multiple offers on properties but most still have financing and home inspections conditions.

The rental market has taken off and very little rents less than $2000/month with most landlords needing several months rent, credit cheque, bank statements and more to compete. The Landlord Tenant board is still taking months for hearings so if you are a landlord please reach out to a paralegal if you are having issues for solid advice how to proceed.

The number of homes sold in Ottawa and Lanark County were more year to date than 2023 and the average sales price is trending at 4% increase in Ottawa and a 2% increase in Lanark County compared to 2023.

The average day on market (DOM) are about the same as last year at the same time period.

Statistics Graph – March 2024

Ontario Real Estate Lynn Vardy

March 2024 Market Update

For more details on the Ottawa & Lanark County Real Estate Market Update December 2023  click here or the above graph

Bank of Canada Rates

Stay tuned for more real estate insights and tips next month

Reach out if you want to discuss your local neighbourhood statistics.

Download the PDF – March 2024 – Market Snapshot

Lynn 613-686-2064

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