The September 2025 Ottawa Real Estate Update

The latest statistics are now out from the Ottawa Real Estate Board and it shows the Ottawa Real Estate market holding up well despite headwinds over the summer.

The headwinds I speak of, of course, are the poor state of the Toronto and Vancouver markets which are creating headlines. Specifically, house prices in Toronto are down about 10% this August vs last year, while Condos in the 905 region are also down about 10% over the same period – and those declines are big enough that they are perhaps creating an impression that real estate in general is down across the country.

But real estate is always a local industry – and thankfully the Ottawa market is doing much better than our neighbours in Toronto likely due to the unique nature of the Ottawa economy.

In August, as with the whole summer, prices have been mixed, with apartment condos falling slightly while townhouses and single family rise.

• The Benchmark price for single-family homes was $700,100, up 1.5% year over year in August.
• The Benchmark price for a townhouse was up 8.3% from last year to $466,200.
• The benchmark apartment price was $412,300, down 1.1% from last year.

On the other hand, inventory remains moderately high:

• Active listings totalled 3,971 in August, which is 37% above the five year average.
• Months of inventory was 3.2 in August, unchanged from last year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales.

As we go into the fall, it looks like Ottawa continues to have a pretty balanced market, no doubt thanks to the more stable economy of the city created by less speculation and more stable government jobs and funding in the region.

As we go into the fall, we will see whether continued weakness in Toronto and Vancouver get worse or have an impact on the Ottawa market, but for the time being the Ottawa market is holding up very well. Whether you are buying or selling, we are currently in a balanced market where there is a good amount of inventory for buyers while sellers can still get prices that are quite comparable to recent sales over the past two years.

Best,

Chris

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