March 2025 Market Stats

Stability Amid Caution and Lower Interest Rates

In March 2025, Ottawa's housing market saw a 6.2% decline in home sales compared to March 2024, with 1,103 homes sold. This marked a 24% drop from the five-year average and 19.3% below the ten-year average. Despite this, the market showed some momentum as the spring season began to gain traction.

OREB President Paul Czan noted that while sales were slightly lower, lower interest rates were helping bring buyers and sellers back into the market. Economic uncertainty and the upcoming federal election are factors influencing caution, but interest rates remain a key driver for activity.

Price Trends:

Prices showed modest increases across most property types:

• MLS® HPI composite benchmark price: $626,200 (up 2.2%)

• Single-family homes: $698,700 (up 2.7%)

• Townhouses: $431,200 (up 3.0%)

• Apartments: $400,900 (down 4.3%)

The average home price in March 2025 was $685,866, unchanged from March 2024. The total dollar volume of sales was $756.5 million, down 6.2% from last year.

Inventory and Listings:

Active listings surged by 60.3% year-over-year, totaling 4,319 units. New listings increased by 4.1%, with 2,221 properties added to the market. Months of inventory stood at 3.9, up from 2.3 in March 2024.

Looking Ahead:

While the market remains relatively stable, ongoing global trade and tariff concerns may affect new construction and exacerbate supply challenges. Collaboration with the City of Ottawa is crucial to improving housing options. Overall, the outlook remains cautiously optimistic as the spring market progresses.