George Prazmowski - Real Estate Sales Representative

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George Prazmowski - Real Estate Sales Representative

Real Estate Sales Representative for Royal LePage Team Realty, Brokerage, in Ottawa, ON

Topics, hint, tips, updates related to real estate in general, with a focus on the Ottawa real estate market, including new listings for homes and condominiums, open houses, and other topics of interest.

01/08/2026

From the Ottawa Real Estate Board...December 2025 Real Estate summary....Residential Market Activity

In December, 587 residential properties sold, down 32% from November but consistent with typical December activity when excluding the unusually strong pandemic markets of 2020 and 2021. Since 2018, average December sales (excluding those two years) have been 583 units. While the slowdown reflects normal seasonal patterns, it also points to continued buyer caution.

On the supply side, new listings declined as expected, and active listings fell from 3,628 in November to 2,544 in December, reflecting the usual holiday-season slow down. Even so, inventory levels remain elevated compared with recent December norms, continuing the trend seen throughout the fall of increased choice for buyers.

Since 2022, Ottawa has seen a multi-year trend across all market segments toward higher year-end inventory levels. While seasonal absorption typically limits a sharp buildup of listings in December, it has not fully offset the higher volume of inventory entering the market earlier in the year. Year-to-date active listings in December 2025 were 19% higher than last year, 45% higher than 2023, and 89% higher than in 2022. Months of inventory rose to 4.3, higher than last December and closer to long-term, pre-pandemic averages.

Prices and Market Balance
Prices remained relatively stable in December. The average residential sale price was $658,943, essentially unchanged from December 2024. This follows November’s modest year-over-year increase and reflects a market where prices are being supported, but not driven higher.

The MLS® Home Price Index offers additional context. The composite benchmark price has declined month over month since the summer, yet still finished 2025 slightly above 2024 levels overall. This suggests price adjustment is occurring gradually at the benchmark level, even as averages prices continue to be influenced by the mix of homes sold.

Overall, the market remains balanced. Buyers have more leverage than in recent years, while sellers continue to benefit from steady demand and relatively resilient pricing.

05/03/2023

April 2023 Resale Market Springs Back in Favour of Sellers

Members of the Ottawa Real Estate Board (OREB) sold 1,488 residential properties in April through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,876 in April 2022, a decrease of 21%. April’s sales included 1,156 in the freehold-property class, down 18% from a year ago, and 332 in the condominium-property category, a decrease of 29% from April 2022. The five-year average for total unit sales in April is 1,739.

“Ottawa’s resale market is on a steady upward trajectory, narrowing the comparison gap to peak pandemic activity in 2022. However, with new listings not keeping pace, the available housing stock is declining, and with less than two months of inventory — we’re back into seller’s market territory,” says Ottawa Real Estate Board President Ken Dekker.

Contact me for more detail on the stats, including average sales prices and Days-on-Market, etc.

02/20/2023

A nice testimonial received (and appreciated) from a recent listing and sale...client was downsizing to a more manageable property...

“George was reliable and professional in all business dealings. We very much enjoyed our dealings with him.”

PKG, Ottawa

02/02/2023

Resale Market Starts Slow as Buyers Remain Cautious
Members of the Ottawa Real Estate Board (OREB) sold 606 residential properties in January through the Board’s Multiple Listing Service® (MLS®) System, compared with 933 in January 2022, a decrease of 35%. January’s sales included 460 in the freehold-property class, down 30% from a year ago, and 146 in the condominium-property category, a decrease of 47% from January 2022. The five-year average for total unit sales in January is 819.

“January’s marked slow down in unit sales over 2022 indicates potential home buyers are taking their time,” says OREB President Ken Dekker. “While last month saw the culmination of the succession of interest rate hikes announced by the Bank of Canada, affordability remains a factor. They may be waiting for a shift in listing prices. They’re being cautious in uncertain conditions.”

11/03/2022

The Ottawa Real Estate Board (OREB) has issued the latest statistics for the real estate market in Ottawa....."After the volatility of the past two pandemic years, which was unsustainable, the market is correcting and adjusting," says Penny Torontow, OREB President. "The slowdown is compounded by Bank of Canada interest rate increases, which further exacerbates buyer hesitancy and weakens people's purchasing power—especially first-time homebuyers."
“Demand is still high, and with increasing inventory available, Buyers have more choices and time to shop for their new home. However, the ongoing speculation about where prices and interest rates are headed shakes consumer confidence and has made some prospective Buyers take a wait-and-see approach.”

06/29/2022

The latest stats from the Ottawa Real Estate Board shows 2022 property sales trending quite a bit lower than the previous 3 years, while sale prices are showing a slowing trend from the start of the year, with prices coming closer in line to those of last year at the same time.

04/19/2022

The latest from the Royal LePage 1st quarter 2022 house pricing report...

- Kingston, Ontario, posts highest year-over-year aggregate and detached home price gains in Canada for the second straight quarter.

- Four markets in Ontario’s Golden Horseshoe region report median single-family detached home prices above $1 million for first time.

- Early signs of moderation appear as some urban markets unveil improved conditions for buyers.

See the full report at rlp.ca/house-prices-Q1-2022

04/07/2022

Members of the Ottawa Real Estate Board sold 2,011 residential properties in March 2022 through the Board’s Multiple Listing Service® System, compared with 2,274 in March 2021, a decrease of 12 per cent. March’s sales included 1,493 in the residential-property class and 518 in the condominium-property category, The five-year average for total unit sales in March is 1,792.

The average sale price for a condominium-class property in March was $479,405, an increase of 10 per cent from 2021, while the average sale price for a residential-class property was $853,615, increasing 13 per cent from a year ago. With year-to-date average sale prices at $831,122 for residential and $467,915 for condominiums, these values represent a 14 per cent and 13 percent increase over 2021, respectively.

02/07/2022

Thank you to all my great Buyers & Sellers....it is not possible without your trust and faith.

09/30/2021

Just Released: Royal LePage’s Rent vs. Buy Report
Royal LePage Canada / 1 day ago

The Royal LePage Rent vs. Buy Report includes insights from economist and housing market analyst Will Dunning’s recent study on the financial benefits of home ownership versus renting.

The study uses price data for 278 scenarios (broken out by city and housing type) across the country and aims to answer the commonly-asked question ‘Is it better to buy or rent?’. The study, which assumes the buyer is able to secure a 20% down payment, found that it is more financially beneficial to buy a home in Canada than to rent an equivalent dwelling over the long term, in 91% of cases.

According to a Mortgage Professionals Canada report, close to half of first-time homebuyers that purchased a property in 2018 or later in Canada, had a down payment of 20% or more. The average down payment for first-time homebuyers in Canada is 21%.

Key findings from the release include:

For those able to secure a sufficient down payment, it is more financially beneficial to buy a home in Canada than to rent over the long term, in 91% of cases analyzed;

As of Q2 2021, on average the net home ownership cost was $769 per month less than the cost of renting an equivalent dwelling;

Even with a 10% decline in home prices over a ten year period, approximately half of homeowners studied would still see a positive rate of return on investment, while the other half would break even or see a modest loss.
Read the full press release here. rlp.ca/rent-vs-buy-summary

07/08/2021

Ottawa West continues to be a strong market for real estate sales. This graphic describes the area of Champlain Park, West Wellington, and Hampton Park. A little farther west I just had a nice, two-storey, detached property attract eight offers, and sell firm.

Address

Ottawa, ON
K2A1C8

Telephone

+16137251171

Website

http://homesbygeorge.ca/

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