The May 2025 Ottawa Real Estate Update

Last Month’s statistics are now out from the Ottawa Real Estate Board and the market appears to be holding up despite rising inventories. We are now in the highest portion of the spring market, and deals are being made left right and centre. Anecdotally, I have noticed a good amount of buyer activity in the second half of the month, with some listings selling quickly in multiple offers, as the anxiety around the election and tariffs seems to have peaked and people are feeling more secure about the economy going forward.

Here’s what the OREB statistics show for April:

First, prices continue to hold steady, while interest rates have brought more affordability for buyers.

• The Benchmark price for single-family homes was $703,200, up 1% year over year in April.
• The Benchmark price for a townhouse was up 4.4%  from last year to $440,000.
• The benchmark apartment price was $404,000, down 2.8% from last year.

On the other hand, inventory remains significantly elevated:

• Active listings totalled 4,878 in April, up 54% from 2024.
• Months of inventory was 3.7, compared to 2.2 in 2024. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales.

All in all, my prediction for the direction of the market is the same as it was last month – I expect the elevated inventory will lead to a slow market later this summer after the spring buying rush is over.  That means that if you are selling, you need to bring your “A game”, position your property well, make sure it shows well, and be prepared to make your home as appealing as possible so that it sells quickly and at the right price.

If you’re thinking of selling your home or condo this year, my free ebook, 28 Tips to Help You Sell your Home Quickly For The Best Price has valuable tips that are more important than ever in today’s challenging market. This ebook has my simplest and most actionable advice for how to get your property ready for the market so you can get the best possible price for your home quickly and with the least hassle.