Ottawa Real Estate Market Update—April 2025
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As we approach spring, Ottawa's real estate market is seeing a mix of stability in home prices and moderation in overall sales activity. If you're a buyer, seller, or investor, this most recent data will help you make informed decisions. Let's go over the key points of April 2025.
Home Sales Continue to Cool
The Ottawa MLS® system sold 1,306 residential properties in April 2025, a notable 11.2% decrease from April 2024. Examining more general trends:
- Year-to-date (Jan–Apr 2025) home sales reached 3,965 units, down 5.4% from the same period last year.
- Compared to long-term trends:
- Sales were 17.6% lower than the 5-year April average.
- Sales were also 16.2% below the 10-year average.
What this means: The Ottawa market is seeing less activity on the part of buyers because of increased interest rates, affordability issues, or economic uncertainty. This also provides opportunities for buyers who have less competition.
Benchmark Prices Hold Steady
The MLS® Home Price Index (HPI) provides a reliable gauge of price trends by accounting for differences in property types. Here’s how benchmark prices changed over the past year:
| Property Type | Benchmark Price | Year-over-Year Change |
|---|---|---|
| All Property Types | $631,200 | ↑ 1.1% |
| Single-Family Homes | $703,200 | ↑ 1.0% |
| Townhomes/Row Units | $440,000 | ↑ 4.4% |
| Apartments | $404,000 | ↓ 2.8% |
Takeaway: While townhomes for sale in Ottawa are seeing the strongest price growth, apartments in Ottawa have slightly dipped in value, possibly signaling an opportunity for condo buyers and investors.
Average Prices Remain Stable
Alongside benchmark pricing, the average selling prices also showed minor fluctuations:
| Metric | Price | Year-over-Year Change |
|---|---|---|
| Average Price (April 2025) | $707,180 | ↑ 0.4% |
| YTD Average Price | $685,943 | ↑ 1.1% |
Insight: Ottawa's average home prices are remaining stable despite a decline in sales. This suggests that property values and seller expectations are largely unchanged, especially in the detached home and townhome segments.
Inventory on the Rise
While sales may be slowing, supply is trending upward:
- New residential listings in April reached 2,589 units, down 3.8% from last year.
- However, listings were still
- 2.8% higher than the 5-year average
- 5.6% higher than the 10-year average
More notably, active listings at the end of April hit 4,878 units — a massive 54.2% increase year-over-year.
| Inventory Metric | Status | Year-over-Year Change |
|---|---|---|
| Active Listings (April End) | 4,878 units | ↑ 54.2% |
| vs 5-Year Average | 86.9% above | |
| vs 10-Year Average | 51.3% above |
Why it matters: The rise in available homes could signal a more balanced market and offer buyers more options, especially in higher-density areas. It also gives sellers a reason to price competitively to stand out.
Total Dollar Volume Drops
The total dollar volume of homes sold in April was $923.6 million, down 10.8% compared to April 2024.
Conclusion: This decline in sales volume was probably brought on by fewer transactions and a move toward more reasonably priced home types. This further reflects a change in buyers toward budget-friendly options like townhomes and semi-detached homes.
Final Thoughts: What This Means for Buyers and Sellers
The story of the Ottawa real estate market in April 2025 is one of balance. While buyer demand has eased off from the past few years, prices are notching up small gains in most categories. This combination of increasing inventory and stable pricing presents a good time for buyers, especially those in the market for detached homes, new condo developments, or Ottawa townhouses for sale.
Conversely, sellers ought to be cognizant of the competitive landscape and modify their pricing tactics appropriately.
Sources:
https://creastats.crea.ca/board/otta
