This week, we're going to do another monthly market update and let you guys know what's going on in the Ottowa market, the November numbers are in so stay tuned, see where we're at. So like always, we're gonna start off and we're gonna take a look at November 2020, versus November 2021. So you're gonna see the average home price went for $506,784 up 20.22% to $609,261.

We saw a decrease in sold units though from 1,989 to 1,785.

And we saw the sold-to-list price and the averages on the market stay about the same.

So it's been a bit of a roller coaster year where we saw that home prices skyrocket from January to March, we saw them really drop in the summer. And now they're slowly climbing up equalizing the market a little bit. So this graphic will show a little bit of what I'm talking about.

We saw the prices peak in March at $623,428. They dipped down to $569,524 in August, and now they're back to $609,261. Looking like they're gonna continue to climb just a little bit. So it's nice to look at the overall home prices. But I like to look at specific types of homes. So first, let's take a look at detached homes.

So looking at the detached homes, we'll see a few differences from the overall, one difference is going to be that they actually hit their bottom in July instead of August. And you're going to see the average return on investment or ROI of almost 26% whereas overall it was 23 in the market. Now one of the main reasons that I want to pull the detached homes to the townhomes is a lot of people think that townhomes are the best investment. But when you see us pull the next graphic, you'll see that the ROI for a townhome was significantly less than a detachable.

We saw the prices peak in March at $573,341. And they slowly went down to $528,031. In August. Now they're back to $555,816. But you're gonna notice the ROI as I mentioned that the return on investment is about 16%.

Alright, so the next statistic that we want to address is going to be the sole properties. And although we might see an 11% decrease, that's actually going to be skewed from the pandemic numbers. So this next graph is going to show us what the numbers are actually like from 2019 to 2020, and now to 2021.

So as you can see, the amount of sold properties compared to 2019, we're actually seeing more sales in 2020 is because we saw a massive decrease during the beginning of the pandemic.

So next we can adjust the sold to ask ratio and the days on market. And what I love about these graphics is it's going to show us that the market is finally starting to equalize.

So first looking at the days on market, even though we're seeing an increase in prices, we actually also saw an increase of days on market, which is nice to see. Meaning that we're staying at about an equilibrium of around 20 to 22 days on market.

And the average sold to ask price, we're seeing people starting to price their homes properly, as opposed to the 111% over asking that we're seeing at the beginning of the year, we're not staying around 103% of the asking price

Since we do these videos every month and we follow the same statistics to start I want to finish off and do a different neighborhood every time. So now let's take a look specifically at what's going on in Orleans.

Also, unlike the rest of the market that peaked in March, Orleans actually peaked in May, at $645,725. We saw a drop all the way down to $569,816. And it just started to come up again.

So I love looking at the stats and the market trends and trying to predict where the right plays are in the future.

So if you guys have any questions about your market, or about where the best market is to go to, give me a call directly. I'll make sure I make a blog about it in the future. This is gonna be the last market update. So I'll see you guys next year in 2022.