June 2022 Newsletter

Jul 1

Lots of exciting things happened this month, with more to come! We’ve also put out some awesome new content about home ownership, Ottawa, and more.

Welcome to the new members of our team!

We were lucky enough to welcome 3 new members to our team this month.

Owen is a real estate agent with 4 years of experience who has a passion for fighting for his clients and getting them the best deal possible. This competitive spirit comes from his Waterpolo coaching; his team actually just went to nationals!

John is passionate about helping people in real estate and loves being the one people come to for the biggest decision of their lives. In his spare time he volunteers with the OPP, and in the past, he worked in the military.

Danny is our newest addition to our admin team. In her spare time, Danny practices Muay Thai, games, and is completing a biochemistry degree.

We joined the LGBTQ Real Estate Alliance!

Joining this alliance means that we are working with other ally real estate agents all across North America to ensure that we are well educated and equipped to assist our clients in anything they may need. Our monthly membership offers us education and connections to other agents to make sure we are always learning and improving.

Learn more about the alliance: https://realestatealliance.org/

We are partnering with Apollo Insurance!

This month, we partnered with Apollo Insurance to offer our clients the absolute best and fastest insurance option for their new properties and rentals. Apollo is the only fully-online insurance provider in Canada. In just a few short minutes you can get a quote on your insurance.

Take a look here: https://info.apollocover.com/newpurveyors

News in Ottawa

I just bought a house, now what?

Buying a home is a large process - and actually purchasing it is only the first step! If you’ve put your deposit down and are waiting for move-in day, you might be thinking, what next? We’ve compiled a list of things to consider, from switching your IDs to finding new schools for your children.

Learn more here: https://www.newpurveyors.com/new-purveyors-blog/i-just-bought-a-house-in-ottawa-now-what

What are the benefits of an open house?

Open houses are an incredibly common marketing tactic used by many real estate agents. But how much do they actually impact the sale of your house? We broke down some of the pros and cons of hosting an open house.

Learn more here: https://www.newpurveyors.com/new-purveyors-blog/benefits-of-an-open-house

Client Story:

One of our new agents, Owen, scored a big win with his clients. The condominium they were looking at got an unexpected offer, and the team needed to move fast to compete. Without knowing what the other team was offering, they decided they could beat it, assuming it was a low ball offer. They sent in theirs and ended up coming in 20k below asking!

Neighbourhood Monthly Statistics

This month, members of the Ottawa Real Estate board sold 1,508 residential properties. This is down a significant amount from 2,122 in June 2021. Residential property sales are down 31% and condo sales are down 23%.

Penny Torontow explains that Ottawa’s market is becoming more normal now, and we’re seeing a more typical ebb and flow cycle.

We can also assume that a higher cost of living and inflation are contributing to the discouragement many people feel about buying homes. Also, Torontow explains, that ‘buyer fatigue’ caused by waiting to see about home prices may also contribute to lower confidence in consumers. All this, and the rising gas prices, may be slowing down Ottawa residents’ motivation to purchase a home.

Prices are now at a 1% increase in condo prices and a 6% increase in residential home prices. Residential inventory has also increased 38% over this time last year, and condominium has increased by 14%.

Torontow explains now might be a great time to buy as there is more inventory and fewer bidding wars.

To learn more, check out our full blog post HERE