Ottawa Housing Market Outlook 2025
Table of contents
Ottawa Market Report Summary
- The average selling price of a home in Ottawa increased by 1.1% year-over-year to $631,200 in April 2025.
- The average selling price of a single-family home in Ottawa increased by 1.0% year-over-year to $703,200 in April 2025.
- The average selling price of a townhouse/multiplex in Ottawa increased by 4.4% year-over-year to $440,000 in April 2025.
- The average selling price of a condo in Ottawa decreased by 2.8% year-over-year to $404,000 in April 2025.
- The average rent in Ottawa increased by 2.0% year-over-year to $2,200 for April 2025.
- June 9, 2025: Today’s lowest mortgage rate in Ottawa is
for a 5-year fixed.
Composite Home Prices
The average selling price of a home in Ottawa was $631,200 for the month of April 2025, that’s increased by 0.8% compared to the previous month. On a year-over-year basis, Ottawa home prices have increased 1.1% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Ottawa was $703,200 for the month of April 2025, that’s increased by 0.6% compared to the previous month. On a year-over-year basis, single-family home prices in Ottawa have increased by 1.0% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Ottawa was $440,000 for the month of April 2025, that’s increased by 2.0% compared to the previous month. On a year-over-year basis, the price of a townhouse in Ottawa has increased by 4.4% over the last 12 months.
Condo Prices
The average selling price of a condo in Ottawa was $404,000 for the month of April 2025, that’s increased by 0.8% compared to the previous month. On a year-over-year basis, the price of a condo in Ottawa has decreased 2.8% 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 April 2025 was $631,200, and it increased of 1.1% compared to a year ago.
OREB also reported a sales-to-new-listings ratio (SNLR) of 50%, indicating a balanced market in Ottawa for April 2025.
Ottawa Housing Market Balances Soft Sales with Modest Price Growth
According to the Ottawa Real Estate Board (OREB) for April 2025, the city’s housing market shows signs of seasonal momentum while grappling with subdued year-over-year activity. Home sales in Ottawa totalled 1,306 units in April, marking an 11.2% decline compared to April 2024. However, sales were up 18.4% from March, reflecting typical springtime recovery patterns. Despite this improvement, the market remains below historical norms, with sales 17.6% below the 5-year average for the month.
Ottawa Housing Market Activity Below Historical Norms
Ottawa’s housing market continues to reflect caution among buyers amid broader economic uncertainty, particularly trade tensions with the US and their implications for the Canadian economy. Still, benchmark and average home prices posted small annual increases, suggesting a resilient pricing environment despite weaker transaction volume.
- April sales: 1,306 (↓ 11.2% YoY, ↑ 18.4% MoM)
- Year-to-date sales: 3,965 (↓ 5.4% YoY)
- Dollar volume: $923.6 million (↓ 10.8% YoY)
- SNLR: 50%, indicating a balanced market
Ottawa Home Price Trends Remain Stable
Ottawa’s average home price in April was $707,180, reflecting a 3.1% increase from March and a modest 0.4% gain compared to April 2024. The composite MLS HPI benchmark price stood at $631,200, up 1.1% year-over-year and 0.8% month-over-month. Median prices also rose to $653,500, showing a 1.5% gain from March.
- Average price: $707,180 (↑ 0.4% YoY, ↑ 3.1% MoM)
- Median price: $653,500 (↑ 1.0% YoY, ↑ 1.5% MoM)
- Benchmark price: $631,200 (↑ 1.1% YoY, ↑ 0.8% MoM)
- Townhouses: $440,000 (↑ 4.4% YoY)
- Apartments: $404,000 (↓ 2.8% YoY)
- Single-family: $703,200 (↑ 1.0% YoY)
Price appreciation in townhomes remains the strongest, while condos have experienced some softness, likely due to shifting buyer preferences and relative affordability dynamics.
Ottawa Housing Inventory & Market Balance Improve
Ottawa’s housing supply increased substantially. There were 2,589 new listings in April, down 3.8% year-over-year but up 16.6% month-over-month. Active listings jumped 54.2% annually to 4,878, marking the highest April inventory level in over 5 years. The months of inventory rose to 3.7, well above the long-term average of 2.1 and indicating more balanced conditions.
- New listings: 2,589 (↓ 3.8% YoY, ↑ 16.6% MoM)
- Active listings: 4,878 (↑ 54.2% YoY)
- Months of inventory: 3.7 (↑ from 2.2 YoY)
Ottawa’s housing market is stabilizing, with a mix of improving month-over-month sales and listing activity balanced by year-over-year softness. Modest price gains in most property types signal that confidence hasn’t fully eroded, even as market conditions favour neither buyers nor sellers distinctly. With higher inventory and a 50% sales-to-new-listings ratio (SLNR), Ottawa remains one of Canada’s most balanced major markets.
Month-over-Month Market Expectations for Ottawa
Transactions – Number of Sales
The number of sales in Ottawa was 1,306 during April 2025, that’s increased by 18.4% compared to the previous month. On a year-over-year basis, sales in Ottawa have decreased by 10.3% over the last 12 months.
New Listings
The number of new listings in Ottawa was 2,589 during April 2025, that’s increased by 16.6% compared to the previous month. On a year-over-year basis, new listings in Ottawa have decreased by 0.3% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Ottawa was 50% during April 2025, indicating a balanced market. On a monthly basis, that’s increased by 1.6% compared to the previous month. Ottawa’s yearly sales to new listings ratio has decreased by 10.0% 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 $2,200 for the month of April 2025, which increased by 2.0% on a year-over-year basis.
The average rent for a bachelor apartment in Ottawa was $0 for the month of April 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Ottawa was $2,016 for the month of April 2025, which increased by 2.0% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Ottawa was $2,589 for the month of April 2025, which increased by 4.0% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Ottawa was $2,016 for the month of April 2025, which increased by 4.0% on a year-over-year basis.
How Does Renting Compare with Homeownership in Ottawa?
Each $100,000 in mortgage balance costs an average of $533.43 per month on nesto’s lowest fixed 5-year rate at
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
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.
Housing Market Glossary and Definitions
MLS® Home Price Index (HPI)
The MLS® Home Price Index (HPI) is a real estate price index compiled by the Canadian Real Estate Association (CREA) that tracks the price of homes in your neighbourhood. It’s a quick way for Canadians to compare home prices in different parts of Canada and between different periods without having to factor in the unique characteristics of a particular property.
While market prices can vary from one month to the next based on seasonal factors, the Home Price Index (HPI) provides a more consistent view and tracks price trends over an extended period. The Home Price Index (HPI) is updated annually in May to reflect changes in real estate markets.
MLS® HPI is the most comprehensive and precise way to track a neighbourhood’s home price level and trends. MLS HPI uses over 15 years of data from the MLS® System and advanced statistical models to create a “typical” home based on the characteristics of homes purchased and sold. This benchmark home is tracked across all Canadian neighbourhoods and various types of homes.
Strata insurance
Strata insurance is insurance that a strata or condominium uses to cover damages to common areas, assets and liabilities to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. Strata insurance can cover the following:
- Buildings and structures on the strata’s property, including common areas such as the garage, roof, lobby, pool, etc.,
- Liabilities for any property damage or bodily harm due to an injury suffered on a strata property,
- Which also includes fixtures in the standard unit or part of the original make of each unit.
Strata insurance generally does not cover personal belongings and appliances in a condo unit. Damage caused by individual unit owners (e.g., water damage due to a unit owner’s negligence) is typically covered under personal condo insurance.
Property Types
Detached homes, also known as single-family homes, are residential properties that stand alone and are not connected to other buildings. They are legal single residential units on their own parcel of land and have a separate title.
Semi-detached homes are characterized by their unique architectural design. Two houses are built side by side and share a common wall. Although sharing a building, semi-detached homes have their own parcel of land and separate legal titles.
Townhouses are residential dwellings typically characterized by narrow, tall structures, often sharing walls with neighbouring units. Although they may share yards or common elements with their neighbours, townhouses will have separate legal titles from any adjoining building. Townhouses can be purchased as freehold or leasehold within a condo or strata and may come with their own land parcel. Townhouses can be part of a low-rise or high-rise building.
Condo apartments, also known as condominiums, are residential properties that combine elements of apartments and individual homes. It is a unit within a larger building or complex owned by an individual who also shares ownership of common areas and amenities with other residents. Condo apartment owners have legal ownership of their units and can modify them within the guidelines set by the condominium association. Unlike a townhouse, condos do not offer exclusive use of outdoor space unless they come with a balcony or terrace. Condos can be part of a low-rise or high-rise building.
Plexes or multiplexes are unique residential buildings constructed into 2 to 6 units within a single structure. Traditionally, they have been designed as low-rise residential buildings where any unit is accessible via an external entrance with higher floors connected by staircases. Each unit will have a separate registration and title but may share common elements and co-ownership fees with the other multiplex owners. Plexes are common in Québec and older parts of Toronto.
Property Ownership Classes
A freehold is a type of property ownership where an individual or entity has complete and indefinite ownership rights over a property and its parcel of land. Common freehold property types include detached houses, semi-detached houses, farms, and townhouses not part of condominium corporations.
A condominium or condo is a distinct type of property class that combines apartment living and individual homeownership elements. In a condominium, individual units are owned by the residents, while the common areas and amenities are shared among all the unit owners. This type of ownership gives you rights to your specific unit and some rights and responsibilities to the common areas, such as the hallways, elevators, garage, pool and rooftop patios.
A leasehold is a legal arrangement where a person or entity holds the right to use and occupy a property for a specific period, typically through a lease agreement. In some cases, the leaseholder may own the building or unit and rent the land from the landowner (landlord).
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