Ottawa has 4.8 months of inventory. Here is what that does to your offer.

Ottawa has 4.8 months of inventory. A year ago it was 4.1.

Months of inventory answers one question: if nobody listed another home tomorrow, how long would it take for everything on the market to sell? Under 4, sellers set the terms. Over 6, buyers do. At 4.8, we're in the middle, leaning toward the buyer.

What it does to your offer

You get time. Time to inspect, time to compare, time to walk away from the wrong house. That's the real change from a year ago. It isn't a discount, it's room to think.

What it does to a seller

The first fourteen days decide it. Price right, or sit.

September closed with 1,010 sales, down 6.6% from last year, and the benchmark at $623,500. Buyers have more choice and no reason to chase a home that's priced for a market that has already moved on.

Which side of 4.8 are you on this fall?