Ottawa Real Estate Update: A Market on the Move?

Mar 12

With winter finally loosening its grip, Ottawa’s real estate market is showing signs of waking up. While February remained relatively quiet, the combination of rising inventory and improving affordability suggests we could be heading into a more active spring.

More Listings, More Choices

So far in 2025, 1,470 homes have sold, a 4.9% decrease compared to this time last year. But the real story is in new listings, which have climbed 6.4%. Buyers who felt squeezed by limited options last year are now seeing more choices, and months of inventory (a key measure of supply) has grown from 2.9 to 4.8. That means we’re inching closer to a balanced market, where neither buyers nor sellers have a clear advantage.

Market Breakdown by Property Type

Single-Family Homes

722 homes sold year-to-date (↓6.1% YoY)
Average price: $818,818 (↑3.1% YoY)
New listings: 1,503 (↓1.2% YoY)
Months of inventory: 5.0 (up from 3.0 last year)

Even with fewer sales, prices remain strong, and buyers have more time to make decisions as inventory rises.

Townhomes

440 townhomes sold year-to-date (↓2.7% YoY)
Average price: $567,956 (↑2.2% YoY)
New listings: 773 (↑7.4% YoY)
Months of inventory: 3.3 (up from 1.9 last year)

Townhomes continue to be in demand, balancing affordability and space. While sales dipped slightly, more listings should ease competition, though the segment still leans toward a seller’s market.

Condos

277 condos sold year-to-date (↓5.5% YoY)
Average price: $435,375 (↑3.0% YoY)
New listings: 685 (↑15.7% YoY)
Months of inventory: 5.9 (up from 3.5 last year)

With a jump in new listings, buyers have more options, and the condo market is shifting toward a more balanced environment. Prices remain stable, and with more people returning to in-office work, demand could pick up in the coming months.

What This Means for Buyers and Sellers

For buyers, increasing inventory means more choices and less pressure to act immediately. For sellers, strategic pricing and strong marketing will be key as competition rises in certain segments.

Spring typically brings more activity, and with affordability improving, we could see a busier season ahead. If you want to chat about what these trends mean for your real estate plans, feel free to reach out!