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 $627,200 in September 2025.
- The average selling price of a single-family home in Ottawa increased by 1% year-over-year to $697,200 in September 2025.
- The average selling price of a townhouse/multiplex in Ottawa increased by 7.8% year-over-year to $462,800 in September 2025.
- The average selling price of a condo in Ottawa decreased by 1.7% year-over-year to $408,200 in September 2025.
- The average rent in Ottawa decreased by 1.3% year-over-year to $2,190 for September 2025.
- October 17, 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 $627,200 for the month of September 2025, that’s decreased by 0.4% 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 $697,200 for the month of September 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 1% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Ottawa was $462,800 for the month of September 2025, that’s decreased by 0.7% compared to the previous month. On a year-over-year basis, the price of a townhouse in Ottawa has increased by 7.8% over the last 12 months.
Condo Prices
The average selling price of a condo in Ottawa was $408,200 for the month of September 2025, that’s decreased by 1% compared to the previous month. On a year-over-year basis, the price of a condo in Ottawa has decreased 1.7% 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 September 2025 was $627,200, and it increased of 1.1% compared to a year ago.
OREB also reported a sales-to-new-listings ratio (SNLR) of 38%, indicating a Buyers in Ottawa for September 2025.
Housing Inventory Builds in Ottawa as Demand Holds Steady Heading into Fall
According to the Ottawa Real Estate Board (OREB), the city’s housing market remained balanced in September 2025, showing signs of resilience despite seasonal slowing. A total of 1,089 homes were sold, down from 1,236 in August and 1,318 in July, but still 2.4% higher than the same month last year.
Ottawa Home Prices Up in September
The average sale price for all property types reached $690,397 in September, up 0.3% year over year. Benchmark prices have remained stable through late summer, suggesting that steady demand continues to absorb growing supply. Total sales volume for the month reached $751 million, a 2.8% annual increase, underscoring real estate’s ongoing role as a key economic driver in the national capital region.
Active listings rose to 4,388, 19% higher than last year and nearly 22% above the 5-year average for September. With months of inventory climbing to 4%, up from 3.2% in both July and August, the market continues to show signs of balanced conditions.
Ottawa Home Prices Diverge Across Property Types
OREB President Paul Czan noted, “September reinforced Ottawa’s resilience, with sales nearly 2.4% higher than last year and prices holding steady despite more listings coming to market. Townhomes continue to anchor stability, while single-family homes are adjusting.”
Home price movements varied across categories:
- Single-family homes averaged $850,181, up 3.4% YoY.
- Townhouses averaged $555,679, down 4.7% YoY.
- Apartments averaged $424,568, down 0.7% YoY.
- The MLS Home Price Index (HPI) composite benchmark reached $627,200, a 1.1% annual gain.
Among benchmark categories, single-family homes rose to $697,200, up 1%, townhouses to $462,800, up 7.8%, and condominium apartments slipped to $408,200, down 1.7%.
Inventory and Market Dynamics
Inventory levels continued to build through the end of summer. New residential listings reached 2,832 in September, up 19.3% from last year. The sales-to-new-listings ratio (SNLR) stood at 38.5%, well within the range typically seen in buyer’s markets.
Townhouses played a stabilizing role, recording 343 sales, up 33% YoY and showing strong demand among first-time buyers. Single-family home sales, by contrast, declined 3% to 561 transactions, while apartment sales dropped nearly 20% to 164 units.
Trends by Property Segment in Ottawa
Single-family homes: Prices remained the highest of all categories, with a median of $770,000, homes sold in a median of 19 days, maintaining a sale-to-listing ratio of 98.2%.
Townhouses: Median prices reached $573,000, slightly below 2024 levels, while sales jumped 33%. Listings surged nearly 48%, helping to ease upward pressure on prices.
Condo/Apartments: The segment continued to face headwinds, with both prices and sales declining. Median prices dropped 7.4% to $375,000, while active listings rose 11%.
Key Market Statistics for Ottawa
- Sales activity: 1,089 transactions, up 2.4% YoY
- Average sale price: $690,397, up 0.3% YoY
- Median price: $629,000, down 2.5% YoY
- Active listings: 4,388, up 19.4% YoY
- New listings: 2,832, up 19.3% YoY
- Months of inventory: 4, remained balanced
- Total sales volume: $751.8 million, up 2.8% YoY
Ottawa Real Estate Outlook for Late 2025
Ottawa’s housing market is expected to maintain its balance through the end of the year. As mortgage rates continue to edge lower and confidence improves, modest sales growth is likely through Q4 2025. Townhomes are positioned to remain the most active segment, while single-family homes and apartments may see stable or slightly declining prices depending on inventory trends.
The Bank of Canada’s recent rate cut will ease borrowing conditions for homebuyers and renewers heading into 2026. If economic conditions continue to moderate, further policy easing could sustain affordability in Ottawa’s housing market, supporting continued resilience through the next rate cycle.
Month-over-Month Market Expectations for Ottawa
Transactions – Number of Sales
The number of sales in Ottawa was 1,089 during September 2025, that’s decreased by 11.9% compared to the previous month. On a year-over-year basis, sales in Ottawa have increased by 4% over the last 12 months.
New Listings
The number of new listings in Ottawa was 2,832 during September 2025, that’s increased by 33.5% compared to the previous month. On a year-over-year basis, new listings in Ottawa have increased by 20.9% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Ottawa was 38% during September 2025, indicating a Buyers. On a monthly basis, that’s decreased by 34% compared to the previous month. Ottawa’s yearly sales to new listings ratio has decreased by 13.9% 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 $2,190 for the month of September 2025, which decreased by 1.3% on a year-over-year basis.
The average rent for a bachelor apartment in Ottawa was $0 for the month of September 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Ottawa was $1,977 for the month of September 2025, which decreased by 3.2% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Ottawa was $2,533 for the month of September 2025, which decreased by 1.5% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Ottawa was $1,977 for the month of September 2025, which decreased by 1.5% on a year-over-year basis.
How Does Renting Compare with Homeownership in Ottawa?
Each $100,000 in mortgage balance costs an average of $520.07 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 2.50%, and nesto’s prime rate is set to 4.70%.
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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