It’s that time of the year when many people think of making a move, but 2020 is a bit different.

Here at NANCY BENSON & ASSOCIATES we are still considered an essential service and therefore have had to change the way that we are doing business.

COVID-19 has certainly changed the landscape, but as “seasoned Realtors” we have come up with a number of creative ways to keep our clients informed and safe during this health crisis.

  • Our team has put extra focus on producing quality video tours, so that you can really take a good look at each home while at home. We can provide virtual showings on the properties that you have selected to view and even do an interactive tour via Skype or WhatsApp, Facetime etc.  
  • All of the paperwork is being done electronically, from signing the listing to selling the home and even listing appointments or Buyer interviews can be done over the internet now.
  • Our team are all working remotely throughout the city and even outside the city to provide you with the best possible exposure to the Ottawa Real Estate market.  

How is the market doing since COVID-19 began and government isolation regulations implemented?

The market was just starting to heat up when the virus hit our city. Interest rates are still at an all-time low, which helps to stimulate the market. The average price in February for a residential resale was $563,700 — up 21.1 per cent year over year — while condos sold for an average $349,800. That’s up 21.3 per cent from February 2019.

Despite all odds, Ottawa’s real estate industry has not fallen flat on its back yet. Since March 1, 2020:

  • 2859 properties have been listed to MLS. 423 of these were listed over the past 7 days.
  • 1024 properties have sold through MLS.
  • Nancy Benson & Associates sold seven of these properties. Five were our own listings
  • We are still seeing many homes sold in multiple offers
  • We are still also seeing many homes selling for more than their listing price.

We feel it is a matter of planning and whether you are thinking of buying or selling this year or next, this is a great time to get informed on the market conditions and as “to do your homework” with respect to pre-qualifying for a mortgage or perhaps getting advice on how to maximize the value of your home for a future sale.

If you have any question at all about how COVID-19 has affected the real estate market, I can always be reached by phone at 613 747 4747 or by email at nancy@nancybenson.com if would be great to hear from you and hear how you are doing during this health crisis.

Hope this note finds you healthy & safe at home, cheers!