If you’ve been keeping an eye on the Ottawa housing market, you probably noticed things felt a little quieter toward the end of the year. That’s exactly what the latest market data shows — a typical December slowdown, softer sales activity, and steady prices wrapping up a year defined by balance and stability.

But don’t mistake “quiet” for “weak.” In fact, Ottawa’s real estate market ended 2025 in a stronger position than many might expect.

Let’s break down what happened, what it means for buyers and sellers, and where the opportunities are heading into 2026.

A Year That Defied the Usual Real Estate Rhythm

Unlike a typical year, 2025 didn’t follow Ottawa’s usual real estate pattern.

Spring arrived later than normal in terms of market activity. Instead of a big early-season rush, the market eased into motion. Summer stayed surprisingly steady, avoiding the usual mid-year slowdown. Then, as fall and early winter arrived, activity cooled again — giving the year an unconventional but consistent rhythm.

Despite the quieter November and December finish, total home sales in Ottawa ended 2025 up 1.3% compared to 2024, and total dollar volume increased 4.1% year-over-year. That points to a market driven by real demand — not urgency or speculation.

In other words, Ottawa’s market stayed grounded in fundamentals.

Ottawa Continues to Show Price Stability

While some larger Canadian cities experienced sharper price corrections, home prices in Ottawa remained broadly stable throughout the year. December data shows inventory levels dipping slightly, but still offering buyers more choice than in recent years.

With roughly 4.3 months of inventory, Ottawa sits in what’s considered a balanced market — not heavily favoring buyers or sellers.

This stability is one reason Ottawa continues to stand out as a resilient real estate market in Canada.

Detached Homes Lead the Way

Not all property types performed the same.

Detached homes remained the strongest segment in Ottawa. Sales were steadier, prices held firm, and buyer demand remained consistent.

Townhomes saw slightly higher inventory levels, meaning buyers have more options and sellers need to price strategically. While sales activity stayed reasonably resilient, mild pricing pressure is starting to appear.

The Condo Market: Softer, But Worth Watching

The Ottawa condo market remains the softest segment right now.

Apartment-style homes saw lower sales activity and higher months of inventory — nearing eight months, which is above balanced market conditions. As supply grows faster than demand, average condo sale prices declined year-over-year.

Ottawa hasn’t experienced the extreme condo oversupply seen in larger urban markets, but this segment is definitely one to watch closely in 2026.

For buyers, this could mean opportunity.
For sellers, preparation and pricing strategy matter more than ever.

What This Means for Buyers and Sellers in 2026

For buyers, the current Ottawa market offers more choice, steadier pricing, and less pressure than in recent years. That means more time to make thoughtful decisions — especially in the condo and townhome segments.

For sellers, Ottawa’s stability is good news — but strategy matters. Detached homes remain in demand, while condos and townhomes require sharper pricing and strong presentation to stand out.

The Bottom Line

Even with a quieter end to the year, Ottawa’s real estate market in 2025 proved stable, balanced, and resilient. Sales and total dollar volume both outperformed 2024, showing steady underlying demand rather than market stress.

As Ottawa heads into 2026, buyers can expect more options, sellers can count on stable pricing (with the right strategy), and everyone benefits from a market that’s driven by real fundamentals — not panic or pressure.

Ottawa’s real estate market took a gentle step into winter this November, and the numbers tell an interesting story. Between cooler weather and a cautious economy, home sales slowed down compared to both October and last November. While the market is still considered balanced, there are definite signs that supply is beginning to outpace demand.

A Shift Toward More Supply

Active listings dipped slightly month over month, but something important happened: months of inventory (MOI) increased again. This signals that, even with fewer new listings hitting the market, homes are taking longer to sell — giving buyers more options and time to make decisions.

This softening is more noticeable than what we usually see in November. Normally, inventory rises a bit heading into winter, but this year the increase is stronger, especially in townhomes and apartments. With more properties available in these segments, buyers have more leverage, and sellers need to pay close attention to pricing and presentation.

What’s Ahead?

There’s some good news: recent interest rate cuts, and the most recent Bank of Canada December 10th announcement that they are holding the rate at 2.25%, may spark renewed buyer activity over the winter. Even though this time of year is traditionally quiet, lower borrowing costs could bring a boost of confidence back into the market.

Looking ahead, Ottawa appears to be setting up for:

• A steadier start to the new year, and

• A more active, energized spring market.

Whether you’re buying, selling, or just keeping an eye on the market, understanding these shifts helps you plan your next move with confidence.

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Despite ongoing economic uncertainty across the country, Ottawa’s real estate market continues to show remarkable resilience. As we moved through October, the capital experienced a steady, seasonal shift marked by healthier sales activity and stabilizing inventory levels—clear signs that Ottawa remains one of the most balanced and dependable markets in Canada.

Sales Activity: A Seasonal Boost, but Still Measured

In October, 1,177 homes were sold, an increase of 8.1% from September’s 1,089 transactions. Although this represents a slight 1.2% dip year over year, the month-over-month improvement reflects the typical fall momentum the region sees before heading into winter’s slower pace.

Prices Hold Strong as Demand Remains Solid

The average sale price in Ottawa climbed to $709,002, marking a 2.7% increase from September and a 5.7% rise compared to October 2024. This upward movement indicates that underlying demand remains healthy, even as buyers proceed with caution.

Inventory Levels Begin to Ease

Ottawa saw 2,405 new listings in October, a notable 15.1% decline from September 2025, though still 13.4% higher year over year. This seasonal drop is consistent with long-term market patterns.

More importantly, active listings decreased from 4,388 in September to 4,232 in October—a 3.6% reduction. While supply remains higher than in the previous few years, this fall decline suggests that inventory levels may be starting to stabilize within a balanced range.

The months of inventory metric eased from 4.0 to 3.6, indicating a modest tightening between supply and demand as the fall market settled.

Interest Rate Cuts Offer a Glimmer of Optimism

On October 29, 2025, the Bank of Canada issued its second consecutive rate cut, lowering the policy rate by 25 basis points to 2.25%. This move provides welcome relief to borrowers and may help fuel activity heading into the spring market.

However, the Bank signaled that this would likely be the final cut in the current cycle—meaning buyers and sellers are still navigating a cautious financial landscape.

Local Factors to Watch

The Ottawa Real Estate Board (OREB) continues to monitor the federal budget and workforce announcements closely. Given Ottawa’s large federal employment base, shifts in government spending or staffing often influence the local market.

A Balanced, Healthy Market Heading Into Year-End

Overall, Ottawa’s housing market remains stable, balanced, and fundamentally healthy. With steady prices, manageable inventory, and modestly improving demand, the city is entering the winter season on solid footing.

OREB President Paul Czan summarizes it well:

“Ottawa’s market continues to demonstrate balance and resilience. We’re seeing modest growth in sales activity, stable pricing, and a seasonal easing of elevated inventory levels. The recent rate adjustments provide optimism for the coming months, but economic uncertainty looms, and buyers and sellers remain cautious. The current environment points to a steady market rather than a rapid shift in either direction.”

As Ottawa moves toward the end of the year, the market appears poised for continued stability—making it a strong environment for both buyers and sellers who are prepared and informed.

Source: Ottawa Real Estate Board

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On September 17, the Bank of Canada made a move that’s got buyers and sellers paying attention — they cut their key policy interest rate by 0.25%, bringing it down to 2.5%.

The reason? Slowing global growth and easing inflation pressures. In plain English, the Bank wants to help keep the economy steady — and that small rate cut could open new doors for homebuyers who’ve been sitting on the sidelines waiting for a break.

So what does this mean for Ottawa’s real estate market? Let’s take a closer look.

🏡 Ottawa’s Market: Staying Strong Through the Fall Slowdown

September usually brings a bit of a seasonal slowdown — kids are back in school, families are busy, and the market takes a breather. But Ottawa showed its usual resilience this fall.

Here’s what’s standing out:

• Sales are still above 2024 levels, even though activity eased slightly.

• Prices remain stable despite more homes coming on the market.

• The rate cut could boost confidence for first-time buyers and bring a little extra energy to the market in the months ahead.

Paul Czan, President of the Ottawa Real Estate Board (OREB), summed it up perfectly:

“September reinforced Ottawa’s resilience. Sales were nearly 2.4% higher than last year, and prices are holding steady despite more listings coming to market.”

He also noted that while single-family home sales are slowing a bit, townhomes are keeping things balanced. And although Ottawa’s housing mix continues to grow, there’s still a shortage of “missing middle” homes — like townhouses and smaller family-friendly options — that bridge the gap between condos and detached houses.

📊 Ottawa Market Snapshot (September 2025)

• Total sales so far this year: 11,025 — up 3.9% from this time in 2024

• Average sale price (September): $690,397 — up 0.3% year-over-year

• Year-to-date average price: $699,910 — up 2.7% from the first nine months of 2024

Overall, Ottawa’s market remains balanced — steady prices, steady demand, and cautious optimism as rate cuts begin to ripple through the economy.

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Curious about how your local market is doing — whether prices are rising, holding steady, or starting to shift?

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As summer winds down, Ottawa’s real estate market is showing plenty of life. Prices are trending upward, sales remain strong compared to recent years, and both buyers and sellers are gearing up for what’s typically one of the busiest times of the year — the fall market.

Home Sales 📊

• In August 2025, a total of 1,236 homes were sold across the Ottawa Real Estate Board (OREB) region.

• That’s fewer than the 1,318 sales in July and 1,602 in June, but still represents a 12.1% increase compared to last August.

• The slowdown from June into August is normal, reflecting the seasonal shift from the busy spring to quieter summer months.

So far this year, Ottawa has seen 9,936 home sales — a 4.1% increase over the same period in 2024.

Prices 💰

• The average sale price in August was $686,536, up 3.6% from last year.

• The year-to-date average price sits at $700,828, about 3% higher than the first eight months of 2024.

• In total, the value of homes sold in August hit $850 million, which is a 16% jump from last year.

These numbers show that Ottawa’s housing sector continues to play a big role in fueling the local economy.

Listings & Inventory 🏠

• 2,121 new listings were added in August, an 8.6% increase compared to last year.

• There were 3,971 active listings at month’s end, up 13.3% from last year and a notable 37.1% higher than the five-year average for this time of year.

When we look at months of inventory (how long it would take to sell all current listings at today’s sales pace), Ottawa sat at 3.2 months. That’s unchanged from July and identical to last August.

👉 A 3.2-month supply is generally considered a balanced market, meaning demand and supply are keeping pace with each other.

The Big Picture 🌎

Ottawa is seeing renewed momentum, with buyers and sellers re-engaging after the slower summer pace. Prices are holding strong, sales are up compared to last year, and inventory has grown — giving buyers more choice.

At the same time, market watchers are mindful of outside factors like federal employment trends and U.S. trade policies, which could influence Ottawa’s economy in the months ahead.

✅ Takeaway for Buyers & Sellers

• Buyers: You’ll find more inventory than last year, but competition is still healthy. Be prepared to act quickly on the right home.

• Sellers: Strong prices and steady demand mean it’s still a great time to list, especially as the fall market ramps up.

Ottawa’s real estate market continues to reflect balance, stability, and opportunities for both sides of the transaction.