A sellers market is when there is not enough homes on the market for the amount of buyers looking for homes. Ottawa is typically a Sellers Market more so than most other cities due to the fact it’s a growing city, a government city and an appealing city to live in. Real Estate is usually cyclical and it tends to go through waves… From a sellers market, balanced market, buyers market and then back to a more balanced and then back to a sellers market. If you’re a buyer in a sellers market, you need to be aware of competition and likely multiple offers on the property you’re interested in and aware that the sale price will probably be well over asking. To navigate a sellers market effectively, it’s good to have an agent in your corner who can guide you through offers and prepare you properly. Reach out to us at anytime if you have any questions at all at www.OttawaRealEstate.ca or our team site at www.thehomeguyz.com