Market Update July 2023
Ottawa & Lanark County Real Estate Market Update July 2023 statistics are in for another month. Again this month year to date in Ottawa and Lanark County there were fewer residential properties sold compared to the same time last year.
There was a decrease of average sales price in Ottawa by 10% and 12% in Lanark County. This is exactly 2% better than last month for each region. July is typically a slower month so we will see if this trend stays or as more inventory seems to be hitting the market whether we will remain steady.
This is always a very general market update and specific areas and type of property may change things.
The 5 year insured mortgage is 5.09% but some brokerages have specials of 4.99% and the prime rate is 6.95%.
For more details on the Ottawa & Lanark County Real Estate Market Update July 2023 click here or the above graph.
This is a great time to buy a property as there are usually less buyers since they are on vacation and have other things on their mind.
Reach out if you need any advice.
Download the PDF – July 2023 Market Snapshot
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