🏡 Ottawa Real Estate Market Update – March 2025

Spring is here, and with it comes new activity in the Ottawa real estate market. Whether you're thinking about buying your first home, moving to a new one, or just curious about what’s happening, here’s a quick and easy breakdown of what’s going on.

📉 Fewer Homes Sold, But More Activity Coming

In March, just over 1,100 homes were sold in Ottawa, which is about 6% fewer than the same time last year. That might sound like a lot, but it just means that buyers and sellers are being more cautious—possibly because of the economy and upcoming election.

Even though sales are a bit slower, the market is starting to pick up as we move into spring.

💰 Home Prices: Not Dropping, Just Growing Slowly

The average price of a home in Ottawa in March was $685,866—basically the same as last year. Here’s what that looks like for different types of homes:

• Single-family homes: $698,700 (up 2.7%)
• Townhouses/row homes: $431,200 (up 3.0%)
• Condos/apartments: $400,900 (down 4.3%)

In simple terms: prices are stable. Detached homes and townhouses are slowly going up in value, while condo prices have dipped—great news if you’re a first-time buyer or investor looking for a deal.

🏘️ More Homes for Sale Means More Options

Here’s something important if you’re looking to buy: there are more homes on the market now than there have been in years. In fact, there were over 4,300 homes available at the end of March—60% more than this time last year.

And what does “months of inventory” mean? It tells us how long it would take to sell all the homes currently for sale if no new ones were listed. Right now, that number is 3.9 months, which means we have a more balanced market—less competition for buyers and more negotiating room.

🔮 Looking Ahead

With interest rates lower than last year, more buyers are starting to step back into the market. That’s helping to keep things moving, even if everyone is being a bit more careful.

The city is also working on new zoning rules to help create more housing options, which is great news for the future.

📞 Thinking of Buying or Selling?

If you're wondering what your home is worth or you’re ready to make a move, I'm here to help every step of the way. Whether it’s your first home or your next one, I’ll make sure you understand the process and feel confident in your decisions.

📍 Serving Ottawa and surrounding areas
📞 (613) 290-1586
📧 maxime@chatelain.ca