My area has no new houses for sale. Only two open houses last Sunday. This time last year, that intersection looked like United Nations with all those posters.
One house sold within 3 weeks with 8000 dollars off the asking price. Three smaller homes which has been sitting there long time finally sold last week as well.
To me, the market in my area is kind of very quiet. Not sellers market, but not buyers neither. Most potential sellers realized that market condition and decided to wait. Lots of Ottawa people who bought their home years ago has very little mortgage, so they have little finanical pressue to rush.