HouseSigma: Seller's market over in central Ottawa real estate, but suburbs remain red hot

OTTAWA, ON, Nov. 19, 2021 /CNW/ - HouseSigma, a leading Canadian technology platform that uses artificial intelligence to correctly estimate home values in real time, has found that while the central parts of Ottawa are no longer in a seller's market, in the suburbs sellers still hold all the cards.

HouseSigma's unique "Market Temperature" index shows that:

• Since early 2019 central Ottawa has been in a seller's market with skyrocketing prices and many homes for sale.
• In September and October of 2021 central Ottawa moved into a balanced market with fewer listings and prices plateauing.
• There is now a balanced market for condo apartments in Central Ottawa making it easier for first-time homeowners to get into the property market.
• The suburbs of Nepean, Kanata, Orleans and Stittsville are still very strong seller's markets with prices at or close to all time highs.

Anyone can use HouseSigma to see how the market is performing in their neighbourhood and for the type of property they are interested in.

HouseSigma has now launched in the Ottawa area, after growing to more than a million active users per month in the Greater Toronto Area.

"HouseSigma believes with better data potential homebuyers and sellers can make better decisions when it comes to buying and selling their home," said Joseph Zeng, CEO of HouseSigma. "Buying a home is the biggest purchase most people will ever make, and our tools mean less overbidding for buyers and leaving less money on the table for sellers."

HouseSigma uses artificial intelligence to provide unique data for potential homebuyers including:

• Home buyers can obtain an accurate automated home valuation for every listing.
• Users can easily see what prices houses sold for to help buyers determine their final offer price.
• What the potential rent will be for investment properties and what rate of return investors can expect
• Understanding where the rental market is headed

by tracking what percentage of recently sold properties are listed for rent right after purchase.

HouseSigma is available as a mobile app in the App Store for Apple devices and on Google Play for Android, and online at housesigma.com.

SOURCE HouseSigma

Media Contact: Hamish Marshall, 778-835-3715, [email protected]