January 2025 Recap
2025 is kicking off to be an awesome year, with lowering interest rates, lots of activity in the market, and a fully frozen canal for the first time in what feels like forever! This month’s newsletter will break down some of your burning questions about what’s to come for 2025 and include some lighthearted updates on our team’s activities.
Vineet: Thoughts and Insights One Month into 2025
With January behind us, the 2025 real estate market is shaping up to be active earlier than expected, hinting at an early spring market. Key trends include:
Multiple Offers Are Back – Many homes are receiving competing offers, signaling increased demand.
Townhomes Are Selling Fast – Particularly in the $500,000–$650,000 range, townhomes are seeing strong interest.
Detached Homes Gaining Momentum – Some areas, like Half Moon Bay in Barrhaven, are seeing quicker sales.
Strategic Pricing & Presentation Matter – Homes that are well-staged and competitively priced are selling faster.
Conditions Are Still Common – Despite competition, most accepted offers include conditions on financing or inspections.
Offer Holds Are Being Tested – Some sellers are holding offers to spark competition, but success depends on demand.
Advice for Sellers:
Work with an experienced agent to price your home competitively.
Declutter and deep clean to maximize appeal.
Consider minor updates like fresh paint or lighting upgrades.
Advice for Buyers:
Get pre-approved for a mortgage to move quickly.
Work with an agent who understands the market.
Be ready to act fast and set clear budget limits.
Market Influences to Watch:
Interest Rates – Bank of Canada decisions will affect affordability.
U.S. Market Trends – Economic shifts across the border may impact Canada.
Spring Inventory – The number of new listings will determine whether the early momentum continues.
With a potentially busy market ahead, buyers and sellers should prepare now. If you’re considering a move in 2025, let’s discuss your options.
Real Estate News
Interested in hearing more from our agents about real estate? Let’s dive into some of our top blog posts this month:
Condo Fees vs. POTL Fees: What’s the Difference? with Maryam Ouach
If you’re exploring homeownership in Ottawa, you’ve likely come across Condo Fees and POTL Fees—but what do they mean for your monthly costs?
Condo Fees (typically $0.50–$1.00/sq. ft.) cover shared building maintenance, amenities, and utilities. Expect to pay $400–$800/month for an 800 sq. ft. condo.
POTL Fees ($50–$200/month) apply to freehold homes in shared communities, covering road maintenance, snow removal, and visitor parking—without the high-cost amenities of condos.
Which is right for you? Condos offer convenience and amenities, while POTL homes provide more control and lower fees.
Want to learn more about homeownership?
Join a Free First-Time Homebuyer Seminar: Sign up here
Preparing Your Home for Sale: Tips from Luke Thompson
Selling your home can feel overwhelming, but the right preparation makes all the difference. Start early by decluttering, depersonalizing, and making necessary repairs to showcase your home in the best light. Neutral colours and a spotless space help buyers envision themselves living there, while curb appeal creates a strong first impression.
A professional evaluation and pre-inspection can prevent surprises, and organizing documents ahead of time makes the process smoother. For expert help, check out trusted moving, cleaning, and organization services in Ottawa.
The Importance of a Buyer Consultation: with Vineet Kauden
A buyer consultation is a crucial first step in the home-buying process that many overlook. This short meeting provides an opportunity to assess your knowledge of the market, walk you through each stage of purchasing a home, and define your specific needs and wants to streamline your search. By discussing must-haves, deal-breakers, and financial considerations upfront, you’ll be better prepared to make confident decisions. It also ensures that all your questions are answered before you start house hunting, preventing surprises along the way. With the right guidance, buying a home can be a smooth and stress-free experience. If you’re ready to take the next step, let’s schedule a consultation and begin your search with clarity and confidence.
FirstList (formerly Knokd)
Discover the hidden world of off-market real estate with FirstList! Did you know that 1 in 3 properties are shared off the public market as "Coming Soon" or "Exclusive"? Gain access to this exclusive inventory and elevate your home search or listing strategy today!
FirstList offers personalized approaches tailored to your needs, providing targeted and discreet exposure for listings before they hit the open market. Say goodbye to one-size-fits-all listings and hello to a customized real estate experience.
Contact your agent for more information on listing your property exclusively!
Ourboro
At New Purveyors, we're excited to introduce Ourboro's co-investment partnership—a game-changing solution to expedite your path to homeownership. By co-investing with Ourboro, you can secure a 20% down payment without additional debt, gaining access to expert guidance and a competitive edge in the market. Contact us to learn more and unlock your dream home sooner!
Neighbourhood Monthly Statistics
Ottawa’s market is showing signs of renewed activity as more buyers and sellers re-engage. 617 homes sold in January, a 4.2% decline from last year, while inventory surged 57.3% to 3,312 active listings, offering buyers more choices. Prices remain stable, with the average home price rising 5.8% year-over-year to $670,258. Single-family homes saw a 2.3% increase to $713,000, apartments rose 4.5% to $436,900, while townhouses/row units declined 3.9% to $448,000. New listings were up 3%, and months of inventory increased to 5.4, indicating a more balanced market. The recent Bank of Canada rate cut and expectations of further reductions are boosting confidence, though economic factors like U.S. tariffs and upcoming elections introduce some uncertainty. Sellers must price competitively and present their homes well, while buyers can take advantage of increasing supply. More transactions are expected in the coming months as conditions improve.
To learn more, check out our full blog post HERE
Pet of the Month
Dexter is a rescue all the way from Kentucky! He is 5 years old, and absolutely never barks, even when someone is at the door. He also wants to hug everyone - all the time.
Send us your pets for the chance to be featured next month!
