I want to talk about a special event that happened just this past weekend. And that's the CHEO telethon where people were able to raise just under $11 million for the kids that CHEO. Now the Feely group was a matching sponsor. And we were happy and proud to be able to say that we supported $10,000 of that money raised.

So whether a family is making move when they're purchasing the first home, you know, they're moving up to a bigger home, or they're relocating for another reason, they're making this move with the hopes of improving their lifestyle. So what better way for us to give back to our clients and give to the children that need us most at CHEO, it's for this reason that every referral is given, we make a donation to CHEO. So for anyone who doesn't have the money to give, if you know, friends or family looking to make a move, just give us a call, we can make a donation in your name.

Last year, we donated $25,000, and this year, we're on the mission of $50,000. Just send me a message if you know someone looking to buy or sell and want to support a great cause.

Now the big question that's on everybody's mind, what is going on with the Ottawa real estate market? And where is it going?

So first, I'm going to go through the stats that show May 2020 or May 2021 when we see the year difference, but then I'm going to go more specifically on what's happening in the last couple of months and where we see the market going. So overall year over year, we're seeing a huge increase. So the average price of a home last year in May was $455,499. This year, it's up 35%. And it was $616,667.

So we also see the market really heated up with the units sold. This year, we sold 2,919 units in the month of May as opposed to 1,811.

Last year, that's a 61% increase. The sold-to-list price, the average home is selling for 110% of the asking price, as opposed to last year where it was 100%.

The average price and market have decreased 69% from 36 days to 11.

So when looking at the market overall, we've never seen prices so high. It's the highest it's ever been. But when we start looking at different sectors of the market, like townhomes, stacked homes, and semidetached homes, we see them all decrease from April to May. If we look closely at say just one neighborhood in the city, the Longfields neighborhood in Barrhaven, and we look specifically at townhomes,

we can see how supply and demand are changing. We're in January, we saw six homes sell eight on February 10 on March, 11 In April, May saw 32 townhomes in that neighborhood sell.

The average price dropped in two months from $655,500 to $607,582.

The price of homes is directly reflective of supply and demand. So in certain types of homes, that there aren't much on the market, you're still seeing extremely high numbers. But we're seeing more and more homes come to the market, it's very important to know exactly what you're looking for and what's available on the market. Because in some areas of the city, we're seeing sellers take advantage of a hot market and all rush to market, in which case supply is starting to increase or match demand. And that's why we're seeing some areas decrease in price. So it's important to know what exactly you're looking for and what the competition is. If you're a buyer who's looking for a home, you need to know exactly what's going on and where the deal is. And if you're a seller, this is important for you because maybe a couple of months ago, you could have just stuck in a for-sale sign in the yard, and the home would have gotten to multiple offers. But that just isn't the case now depending on your type of home.

So if you guys have any questions related to buying or selling again, please give me a call.