April 2025 | Ottawa Real Estate Market Update

Last Month at a Glance

In March 2025, Ottawa's real estate market remained relatively stable compared to the same time last year. Sales volume and the median home price held steady, but active listings increased, giving buyers more choice and a bit more room to negotiate. Homes also took slightly longer to sell than they did in March 2024. Despite this shift, well-presented and well-priced homes continued to attract strong interest and, in some cases, still saw multiple offers. The market showed signs of balance, with conditions favouring neither buyers nor sellers decisively. Interest rates remained a crucial factor, influencing buyer activity and affordability. The ongoing trade war will likely impact the spring market, though Ottawa has generally remained resilient in the face of broader market turmoil.

Read on for the stats from last month.

March Sales Volume

Last month, the Ottawa real estate market saw 1024 property sales, down 2.5% from March last year.

The graph below shows monthly sales volume data grouped by month since 2020.

SOLD PROPERTIES BY MONTH, % CHANGE FROM PRIOR YEAR (2020-2024)

Median Sale Prices

The median sale price of a home in Ottawa was $649,995 last month, reflecting a 1.7% increase over March 2024.

The following graph shows the monthly average sale price data since 2020.

MEDIAN SALE PRICE BY MONTH, % CHANGE FROM PRIOR YEAR (2020-2024)

Active Listings by Month

At the end of March, 2,673 homes were available for sale in Ottawa, marking an 8.2% year-over-year increase. Inventory levels should rise as the weather improves.

The chart below shows the active listing data for the last five years.

ACTIVE LISTINGS, % CHANGE FROM PRIOR YEAR (2020-2024)

Days on Market (Median)

Last month, homes in Ottawa took a median of 18 days to sell, 12.5% longer than last year.

Median days on market data since 2020 can be found in the table below.

MEDIAN DAYS ON MARKET, % CHANGE FROM PRIOR YEAR (2020-2024)

Months of Inventory

The months of inventory measure ("MOI") is calculated by taking the number of homes available for sale and assessing how long it would take for those to sell if demand remained constant and no new inventory was added to the market. This measure is a core indicator that helps assess whether we are in a buyer's, seller's, or balanced market.

In March, Ottawa's Months of Inventory stood at 2.7 months, reflecting a 2.65% increase compared to March 2024.

Months of Inventory data since 2020 can be found in the table below.

MONTHS OF INVENTORY, % CHANGE FROM PRIOR YEAR (2020-2024)

After experiencing its first price decrease in 27 years in 2023, the average home sale price in Ottawa rebounded last year. The average price increased to $676,000, up from $655,000 in the previous year (2023). Even though the average price remains below the 2022 high of $691,500, the Ottawa housing market's recovery has been swift, true to its typical resilience.

The historical average price of a home in Ottawa since 1956 can be found in the chart below.

HISTORICAL AVERAGE HOME PRICES IN OTTAWA (1956-2024)

What This Means for You

It is critical to note that broad aggregate data is useful to establish trends, but significant variability exists at a community and housing-type level. If you are interested in getting a more refined estimate of the value of your home, or if you are interested in beginning your house hunt, we would love to help!

Give us a call at 613-614-2999 for your no-obligation consultation.

* Real estate market data is taken from the Ottawa Real Estate Board's Multiple Listing Service (MLS) and is believed to be accurate but is not warranted.