February 2025 Recap
February was a great month of winter activities, rising inventory in the market, and lots and lots of snow!
Ski Day 2025
The team had an amazing time at our annual Ski Day with agents and other real estate professionals from across Ottawa! New Purveyors was a proud sponsor of the event and were happy to congratulate our good friend and colleague Liane Moskal on her win for fastest women’s time on the slopes!
Real Estate News
Interested in hearing more from our agents about real estate? Let’s dive into some of our top blog posts this month:
Turn a Good House Into Your Dream Home with a Purchase Plus Improvements Mortgage - with Maryam Ouach
Found the perfect home in Ottawa, but it needs a little work? Instead of stretching your budget for a fully updated property, a Purchase Plus Improvements (PPI) Mortgage lets you finance renovations as part of your mortgage—so you can create your ideal home while keeping costs manageable.
With this program, buyers can borrow up to $100,000 above their mortgage for upgrades like a new kitchen, flooring, or finishing a basement. You’ll complete the renovations after closing, submit invoices, and get reimbursed—allowing you to upgrade your home at lower mortgage rates instead of costly personal loans.
Fixed vs. Variable Mortgage Rates: What You Need to Know - with Charlene Weber
With the next Bank of Canada announcement expected to bring a 0.25% rate cut, many buyers and homeowners are wondering: should you go with a fixed or variable mortgage?
Fixed-Rate Mortgages offer stability—your payments stay the same throughout your term. They’re great for budgeting but typically start at a higher rate.
Variable-Rate Mortgages fluctuate with the Bank of Canada’s rate. You might save if rates drop, but payments can also increase if rates rise.
Which is right for you? It depends on your financial goals, risk tolerance, and market outlook. If you’re unsure, I’d love to chat and help you make the best decision!
Thinking of Selling? Start with a Listing Consultation - with Reed Allen
Selling your home isn’t just about putting up a sign—a well-planned strategy can mean the difference between a quick sale and sitting on the market. That’s why every Ottawa seller should start with a listing consultation.
Strategic Pricing: Get expert insights on Ottawa’s real estate trends to price your home competitively.
Home Preparation Tips: Small updates, staging, and curb appeal enhancements can help maximize your home’s value.
Marketing Strategy: From professional photography to digital ads, we’ll create a plan to attract the right buyers.
Selling Timeline & Next Steps: Whether you’re selling now or in the future, we’ll help you create a stress-free plan.
A listing consultation is free, no-pressure, and designed to give you clarity. If you’re considering selling, let’s chat and set you up for success!
FirstList (formerly Knokd)
Discover the hidden world of off-market real estate with FirstList! Did you know that 1 in 3 properties are shared off the public market as "Coming Soon" or "Exclusive"? Gain access to this exclusive inventory and elevate your home search or listing strategy today!
FirstList offers personalized approaches tailored to your needs, providing targeted and discreet exposure for listings before they hit the open market. Say goodbye to one-size-fits-all listings and hello to a customized real estate experience.
Contact your agent for more information on listing your property exclusively!
Ourboro
At New Purveyors, we're excited to introduce Ourboro's co-investment partnership—a game-changing solution to expedite your path to homeownership. By co-investing with Ourboro, you can secure a 20% down payment without additional debt, gaining access to expert guidance and a competitive edge in the market. Contact us to learn more and unlock your dream home sooner!
Neighbourhood Monthly Statistics
Ottawa’s real estate market is holding steady, with 809 homes sold in February, a 10.2% decrease from last year. Home prices remain stable, with the benchmark price for single-family homes at $719,800 (+1.3% YoY) and apartments at $459,300 (+4.5% YoY). Inventory is on the rise, with 3,735 active listings (+61.4% YoY), giving buyers more options. Homes are selling in an average of 19 days, while months of inventory has increased to 4.6, signaling a more balanced market. As we head into spring, buyer activity is expected to pick up, especially if interest rates decrease. If you're considering buying or selling, now is the time to strategize!
To learn more, check out our full blog post HERE
Pet of the Month
Meet Bandit! Bandit is a Blue Nose American Bull Terrier. He loves going on hikes with his parents and sleeps most of the day.
Send us your pets for the chance to be featured next month!
