- Many listings now go live mid week, have open houses Saturday and Sunday, and withhold offers until offer presentation on Monday or Tuesday evening. Majority of town homes seem to be sold within a week using this strategy which keeps the overall inventory low. Its crazy to see this kind of sales process in Barrhaven.
- Although demand is very high right now, the list price looks like they hardly went up in the last 6 months. I suspect this is done in conjunction with the above strategy to attract interest and to create a bidding war. I see listing agents in open houses openly tell visitors that they and their clients want and expect offers well over asking.
- It is becoming more of a norm to waive conditions like financing, and I have even seen sellers pay for a home inspectionto provide to buyers to encourage no condition offers. I heard of sellers paying for home inspection in Alta Vista area before, but it is the first time hearing about it in Barrhaven.
- Town homes sell much more quickly compared to larger detached to no one's surprise. Very few buyers in Barrhaven shopping in 600k+ price points relative to number of buyers in <400k. As a result price gap between singles and towns are becoming increasingly small- I wonder at what point more buyers start shifting to singles to get a better price/ sq foot.
Very interested to see what townhouses sold for in March. I feel like buyers in Ottawa are still very conservative thus limiting the prices sellers can get even in a multiple offers situation.