The Greely real estate market is generating more buzz than ever — and with good reason. Between rising development pressure, the incoming Hard Rock Hotel & Casino Ottawa, and thousands of new homes planned just minutes away, many buyers are asking the same question: Is now the right time to buy in Greely, or should I wait?
In this blog, I’ll break down the current market dynamics, what’s on the horizon, and give you a clear picture of whether it makes sense to act now or hold off — based on your goals.
What’s Happening Right Now in Greely?
Greely continues to stand out as one of the most attractive suburban-rural communities in Ottawa. Known for its large lots, custom homes, and family-friendly lifestyle, it has long been a “move-up” community — but more recently, it’s started attracting a broader mix of buyers, including first-timers and investors.
As of early 2024:
Inventory remains low, particularly for turnkey detached homes under $900K
Buyer demand is increasing, especially as interest rates begin to stabilize
Days on market are dropping, a sign of renewed buyer urgency
Rental demand is climbing, thanks to nearby employment growth and limited availability
While prices have corrected slightly from 2022 peaks, the overall trend line still shows appreciation year-over-year — particularly in properties with SDU potential or premium lots.
What’s Driving the Pressure to Buy Now?
There are four major factors making Greely an attractive market today:
The Hard Rock Casino + Falcon Ridge Village Development
With over 600 new jobs, thousands of new residents, and enhanced LRT access just minutes away, Greely is becoming the “quiet-but-connected” option south of the city. Major projects like Falcon Ridge Village will bring new commercial amenities and more people — both of which tend to boost home values nearby over time.The Return of Pre-Approved Buyers
After sitting on the sidelines in 2022–23, many buyers are now back in the game, armed with lower fixed-rate approvals. This is adding competition, especially under $900K, where a lot of Greely homes are priced.Lack of Supply
Greely remains relatively underbuilt compared to neighboring suburbs. New construction here is slower due to lot size requirements and custom builds — meaning existing homes may become even more valuable as nearby areas get denser.The Rise of SDUs and Rental Opportunities
With more renters searching for units near south-end jobs and transit, homes with basement suite or coach house potential are now more valuable than ever. I expect this demand to rise even further as nearby employment zones open up.
Should You Wait?
There are a few valid reasons someone may want to wait — for example:
You’re unsure about job security or interest rates
You’re hoping for more inventory this summer
You’re still building up your down payment
But here’s what I tell my clients: Waiting only works if the conditions you’re hoping for improve more than the competition increases. In Greely, where inventory is tight and demand is rising, the cost of waiting might be greater than the potential benefit.
In 2022, many buyers said they’d wait for prices to drop. Then in 2023, they waited for rates to drop. Now in 2024, they’re watching prices start climbing again. This cycle often leads to regret from would-be buyers who missed their window.
My Advice as a Greely Realtor & Resident
As someone who grew up in Greely and returned to raise my family here, I believe the current conditions offer a smart window to buy — especially if you’re looking for:
A larger lot or detached home under $1M
A property with future SDU or rental income potential
Long-term growth upside without downtown hustle
If you’re hoping to secure a home before the next surge of demand and development hits full stride — now is the time to be proactive.
Final Thoughts
Greely is on the cusp of a major shift — from a quiet estate-style suburb to one of Ottawa’s most strategically positioned growth zones. With infrastructure, amenities, and job opportunities moving closer by the month, those who get in now could benefit from both short-term value and long-term lifestyle rewards.
Thinking about buying in Greely? Here’s what you can do next:
👉 Book a free consultation to talk through your goals and timeline
👉 Browse current Greely listings
Let’s make a move that works for your future.