Market Update – March 2025: Stability and Spring Momentum
As we step into spring, the Ottawa real estate market continues to show signs of stability despite some fluctuation in sales and pricing trends. Whether you’re considering buying or selling this season, here’s what you need to know about the current state of the market.
Key market trends
The Ottawa housing market saw 1,103 homes sold in March 2025, which represents a 6.2% decline compared to March 2024. While the number of sales is down, the market remains relatively stable, with sales 24% below the five-year average and 19.3% below the 10-year average for the month.
What does this mean for you?
If you’re thinking of buying, the market offers a mix of inventory and relatively steady prices. If you’re selling, there is still demand—especially if you price your home right and prepare for the spring momentum to pick up. However, it’s important to be mindful of potential economic shifts and supply challenges as we move forward.
Price trends: a closer look
MLS® Home Price Index (HPI): The overall composite benchmark price rose 2.2% year-over-year, bringing the March 2025 benchmark to $626,200.
Single-Family Homes: Prices have increased by 2.7%, with the benchmark price reaching $698,700.
Townhouses/Row Units: Prices declined by 8.0%, with the benchmark price now at $431,200.
Apartments: The benchmark price for apartments dropped 4.3%, now standing at $400,900.
While the average price of homes sold remained unchanged at $685,866 compared to March 2024, it’s important to note that specific property values can vary significantly depending on the neighborhood.
Inventory, a growing selection of homes
The number of new listings on the market increased by 4.1% from March 2024, with 2,221 new residential properties added to the market. However, inventory levels are still below the historical averages, with active listings standing at 4,319 units—up by a substantial 60.3% from the previous year.
This increase in inventory means that there are more homes for buyers to choose from, but it also means that sellers should be prepared to make their homes stand out in a more competitive market.
What’s ahead?
As we move into the spring months, the Ottawa housing market is expected to gain momentum. Buyers and sellers alike will be watching closely for any changes in interest rates, economic policies, or other factors that could influence the market.
OREB also notes that trade and tariff concerns may affect new construction, further exacerbating supply challenges in the future. It’s important for both buyers and sellers to stay informed and work with a trusted real estate professional who can guide them through the ever-evolving market.
How we can help
Whether you're looking to buy or sell, we’re here to provide expert advice and personalized service every step of the way. Let’s work together to make your real estate goals a reality in 2025!
Feel free to reach out if you have any questions or want to discuss your next move in the Ottawa market.
This information is based on the Ottawa Real Estate Board’s Ottawa Housing Market Shows Stability as Spring Momentum Builds report. For further details, please visit OREB’s official update.