May 2025 | Ottawa Real Estate Market Update

Last Month at a Glance

In April, the Ottawa real estate market saw a slight dip in sales volume compared to last year, while active listings remained higher than in 2024. This continued increase in inventory has been a steady trend since mid-2023, offering buyers more choice. However, well-priced and well-presented homes are still moving quickly, with the median days on market holding steady at 18, matching last April. Prices have also remained resilient, with the median sale price showing a modest year-over-year increase.

Read on for the stats from last month.

April Sales Volume

Last month, the Ottawa real estate market saw 1,223 property sales, down 6.4% from April last year.

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

SOLD PROPERTIES BY MONTH, % CHANGE FROM PRIOR YEAR (2020-2025)

Median Sale Prices

The median sale price of a home in Ottawa was $660,000 last month, reflecting a 1.4% increase over April 2024.

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

MEDIAN SALE PRICE BY MONTH, % CHANGE FROM PRIOR YEAR (2020-2025)

Active Listings by Month

At the end of March, 3,100 homes were available for sale in Ottawa, an 8.5% increase year-over-year.

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

ACTIVE LISTINGS, % CHANGE FROM PRIOR YEAR (2020-2025)

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 (2020-2025)

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 April, Ottawa's Months of Inventory stood at 2.5 months, reflecting a 16% increase compared to April 2024.

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

MONTHS OF INVENTORY, % CHANGE FROM PRIOR YEAR (2020-2025)

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.

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.