Home Buying #Real Estate

Ottawa Housing Market Outlook 2025

Ottawa Housing Market Outlook 2025

Table of contents


    Ottawa Market Report Summary

    • The average selling price of a home in Ottawa increased by 1.9% year-over-year to $633,100 in July 2025.
    • The average selling price of a single-family home in Ottawa increased by 2% year-over-year to $704,800 in July 2025.
    • The average selling price of a townhouse/multiplex in Ottawa increased by 8.3% year-over-year to $468,000 in July 2025.
    • The average selling price of a condo in Ottawa decreased by 1.6% year-over-year to $411,900 in July 2025.
    • The average rent in Ottawa decreased by 1% year-over-year to $2,198 for July 2025.
    • August 23, 2025: Today’s lowest mortgage rate in Ottawa is for a 5-year fixed.

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    Composite Home Prices

    The average selling price of a home in Ottawa was $633,100 for the month of July 2025, that’s decreased by 0.2% compared to the previous month. On a year-over-year basis, Ottawa home prices have increased 1.9% over the last 12 months.

    Single-family Home Prices

    The average selling price of a single-family home in Ottawa was $704,800 for the month of July 2025, that’s decreased by 0.4% compared to the previous month. On a year-over-year basis, single-family home prices in Ottawa have increased by 2% over the last 12 months.

    Townhouse and Multiplex Prices

    The average selling price of a townhouse in Ottawa was $468,000 for the month of July 2025, that’s unchanged by 0% compared to the previous month. On a year-over-year basis, the price of a townhouse in Ottawa has increased by 8.3% over the last 12 months.

    Condo Prices

    The average selling price of a condo in Ottawa was $411,900 for the month of July 2025, that’s increased by 0.1% compared to the previous month. On a year-over-year basis, the price of a condo in Ottawa has decreased 1.6% over the last 12 months.

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    Ottawa Housing Market Summary

    Data from the Ottawa Real Estate Board (OREB) indicates that the average price of resale residential homes sold across Ottawa in July 2025 was $633,100, and it increased of 1.9% compared to a year ago.

    OREB also reported a sales-to-new-listings ratio (SNLR) of 52%, indicating a Balanced in Ottawa for July 2025.


    Ottawa Home Sales Up 4.9% in July as Supply Climbs Above 5-Year Average

    According to the Ottawa Real Estate Board (OREB), Ottawa recorded 1,318 home sales in July 2025, a 4.9% increase from the same month last year. Year-to-date, 8,704 homes have sold, up 3.1% compared to 2024. On the supply side, 2,549 new listings were added, an 11.7% increase year-over-year, bringing active listings to 4,205. These listings make the total 14% higher than a year ago and 23.6% above the 5-year average, giving buyers more options in the market. Months of inventory (MOI) rose to 3.2 from 2.9 a year earlier, a level considered balanced.

    Moderate Price Growth Across Most Segments

    • Average sale price in July: $695,209, up 2.2% year-over-year
    • Year-to-date average price: $702,840, up 3% from 2024
    • MLS Home Price Index composite benchmark: $633,100, up 1.9% from last year
    • Single-family homes benchmark: $704,800, up 2%
    • Townhouses benchmark: $468,000, up 8.3%
    • Apartments benchmark: $411,900, down 1.6% from last year

    Stable Market Signals Measured Outlook

    Ottawa’s housing market continues to show resilience supported by a diverse and stable employment base, helping it avoid the sharper slowdowns seen in other Ontario markets. Balanced supply and steady price growth suggest conditions that are neither overheated nor overly soft. With the Bank of Canada holding its policy rate steady, borrowing costs remain consistent, and the city’s market fundamentals are well-positioned heading into the second half of the year.

    Impact on Mortgages and Homebuyers in Ottawa

    Ottawa’s steady conditions mean homebuyers can expect more choice without dramatic bidding wars, but qualification remains challenging with current interest rates. Renewers will likely face higher payments than in past terms, especially those from the previous low-rate period of 2020-2021. Refinancers can benefit from steady price growth in most segments, though those in the condo market may see more modest equity gains. For the Bank of Canada, Ottawa’s balanced but resilient performance may reinforce a cautious approach to rate cuts, avoiding an unnecessary spark in housing demand before inflation moves closer to the target.

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    Month-over-Month Market Expectations for Ottawa

    Transactions –  Number of Sales

    The number of sales in Ottawa was 1,318 during July 2025, that’s decreased by 17.7% compared to the previous month. On a year-over-year basis, sales in Ottawa have increased by 6.2% over the last 12 months.

    New Listings

    The number of new listings in Ottawa was 2,549 during July 2025, that’s decreased by 13.1% compared to the previous month. On a year-over-year basis, new listings in Ottawa have increased by 14.3% over the last 12 months.

    Real Estate Market

    The sales to new listings ratio (SNLR) in Ottawa was 52% during July 2025, indicating a Balanced. On a monthly basis, that’s decreased by 5.3% compared to the previous month. Ottawa’s yearly sales to new listings ratio has decreased by 7% over the last 12 months.

    The sales to new listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR under 40% suggests a buyer’s market in which buyers have the upper hand and more negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market. 

    Annual Changes to Composite Home Prices in Ottawa

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    Ottawa Market Rents Summary

    The average rent in Ottawa was $2,198 for the month of July 2025, which decreased by 1% on a year-over-year basis.

    The average rent for a bachelor apartment in Ottawa was $0 for the month of July 2025, which 0 by 0% on a year-over-year basis.

    The average rent for a 1-bedroom apartment in Ottawa was $1,989 for the month of July 2025, which decreased by 2% on a year-over-year basis.

    The average rent for a 2-bedroom apartment in Ottawa was $2,565 for the month of July 2025, which increased by 2% on a year-over-year basis.

    The average rent for a 3-bedroom apartment in Ottawa was $1,989 for the month of July 2025, which increased by 2% on a year-over-year basis.

    How Does Renting Compare with Homeownership in Ottawa?

    Each $100,000 in mortgage balance costs an average of $528.19 per month on nesto’s lowest fixed 5-year rate at and $527.84 per month on nesto’s lowest adjustable 5-year rate at . For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.71.

    Rates used for calculation are those offered on insured purchases with less than a 20% downpayment on a 25-year amortization. Canada’s policy rate is 2.75%, and nesto’s prime rate is set to 4.95%.

    Rental Price Changes by City

    Rental Price Changes by Province

    Rental Price Growth by Housing Type

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    Frequently Asked Questions on Ottawa Housing Market Outlook for 2025

    Will Ottawa home prices increase in 2025?

    Home prices in Ottawa are expected to rise moderately in 2025 due to strong demand and limited housing supply. As the capital city, Ottawa remains a desirable location for families and professionals, which will sustain price growth.

    Is Ottawa a good market for homebuyers in 2025?

    Housing in Ottawa offers stability and strong long-term investment potential. Its relatively affordable pricing compared to Toronto, combined with high demand for family homes, makes it an appealing choice for buyers.

    How will mortgage rates affect Ottawa’s housing market in 2025?

    Declining mortgage rates will encourage more buyers to enter Ottawa’s housing market, increasing competition, particularly for single-family homes and townhouses.

    What will drive housing trends in Ottawa in 2025?

    Key drivers include strong employment growth in the public sector, limited inventory, and demand for suburban and multi-family housing options.

    Will Ottawa’s housing prices remain competitive with other cities?

    Ottawa’s home prices remain more affordable than those of Toronto and Vancouver, offering buyers better value while still being competitive in the national market.


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    nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.

    Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.


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