July 2025 Newsletter – Staying in Touch

Happy July!

July barbecues and festivals are here in Ottawa. A fantastic time to explore the many parks, neighborhoods and sites in our city. It’s amazing to be able to get fresh vegetables and fruit at many local markets.

Real estate market is moving but some areas more than others and particularly for homes under $900,000. Pricing realisticly is very important with the supply of homes increasing. It doesn’t work to over price your home in today’s market, it adds time to sell and in some cases can cause potential buyers to ask what is wrong with the house. The new rule forgoing the GST on new homes for first time buyers is positive, hopefully enough affordable homes can be built for them to purchase.

In June,sales in the Ottawa real estate market increased 10.6% when compared to June 2024. However, sales in the month of June decreased 11.34% from May 2025 and increased modestly, 3.8%, above the five year average. The MLS^® HPI composite benchmark price for Ottawa in June rose 1.6% to $634,300 when compared to June 2024.  New listings and the inventory of homes on the market have increased highlighting the importance of market value pricing, curb appeal, staging and professional marketing to get top dollar.

We highlight the Harmony House shelter in our community this month. If you can please support their summer children’s camp.

This month we’ve included:

• An Update on the Ottawa Real Estate market and Mortgage information: Downsizing or Rightsizing? Smart Moves for Your Next Chapter
• Articles:
  • Tips for Fresh-ening Up Your Home
  • Looking for Your Next Home: Should You Buy the “Less Than Perfect” Home?
  • How to Defend Against Garden Pests Naturally
• Market news and community events to enjoy in our city, including local markets

As always feel free to call and email with any questions and if you have a friend or family member that is thinking of buying or selling their home, please mention our name and we would be happy to provide a complimentary market analysis of their home to give them an idea of what it would sell for it today’s market. We are always appreciative of the referrals we receive from our clients.

Enjoy the Summer and our beautiful city with family and friends.

Joan, Victoria & Luc

Contact Us  

Follow us on:

   @JoanSmithRealEstateFamily         @JoanSmithRealEstateFamily        Mrs. Joan Smith       The Joan Smith Real Estate Family

Market Update

As of July 8th, the Ottawa Real Estate Board reports

1,602 (residential & condominiums) homes sold in June 2025, approximately a 11.34% decrease from May 2025 but a 10.6% increase in homes sold when compared to June 2024. Home sales increased a modest 3.8% when compared to the five-year average. Year to date, unit sales increased 2.1% when compared to the same time period in 2024. The increase in activity in June suggests that we did experience a delay in the spring market. We are also seeing a rise in inventory, a 14% increase in new listings in Ottawa year over year, giving buyers more choice and placing emphasis on neighborhood market value pricing and preparing a home well so web-based screening of homes draws buyers to a home.

The Ottawa Real Estate Board is now using the MLS^®Home Price Index (HPI) to track changes in the real estate market (this tool is used by Canadian Real Estate Association across Canada).  The overall MLS^® HPI composite benchmark price for Ottawa was $634,300 in June 2025, an increase of approximately 1.6% when compared to June 2024. Benchmark price for single family home was $707,000, up 1.6% on a year-over-year basis when compared to June 2024. The benchmark price for a townhouse/row unit (includes both row and condo townhouse) was $467,000, an increase of 9.0% from a year earlier. The benchmark apartment price was $411.500, representing a 0.6% decline from a year ago.

The average sale price for homes sold in June 2025 was $723,152, a 5.2% increase over June 2024. Keep in mind, these are averages so some homes experienced a larger gain and some less, it’s key to look at what is happening in your neighborhood, surrounding neighborhoods and with comparable homes.

For Kanata, unit sales in June (all housing types) were 184, translating to approximately a 46% increase when compared with June 2024.  Year to date there have been 789 sales in Kanata, representing a 14.3% increase for the same period in 2024. For greater Stittsville, unit sales in June 2025 (all housing types) were 87 units, representing approximately a 6.5% decrease from June 2024. Year to date, there have been 434 sales in greater Stittsville, a 2.4% increase for the same period in 2024. In Kanata, the average sale price in June 2025 was $702,924 for all housing types, representing approximately a 5.2% decrease when compared to June 2024. For greater Stittsville, the average sale price in June 2025 versus June 2024, increased 3.5% to $815,933 for all housing types. (Source: Ottawa Real Estate Board Residential Detailed Market Activity and MLS® Home Price Index Report June 2025)

At the end of June 2025, Ottawa’s inventory of homes (all housing types) increased 11.6% when compared to June 2024. At 2.7 months, this is the number of months it would take to sell current inventories at the current rate of sales activity. The number of new listings, 2,933, increased by 13.8% compared to June 2024 and 6.6% above the five-year average. Keep in mind, each neighborhood will be different, so important to look at your neighborhood and housing types as well as the neighborhoods you are interested in. Contact us if you would like an update on your neighborhood/a specific street or type of home.

Click here to read our Ottawa Market Update June 2025 – 50 Years of Change.

Source: June Housing Market Posts Annual Gain Despite Summer Slowdown, Ottawa Real Estate Board, July 8, 2025

July – Latest Mortgage Information

Downsizing or Rightsizing? Smart Moves for Your Next Chapter

Whether you’re an empty-nester, planning for retirement, or simply ready for a change, downsizing—or “rightsizing”—your home can be a smart financial and lifestyle decision. It’s about more than just moving to a smaller home; it’s about finding a space that better suits your current needs while aligning with your financial goals.

Why Consider Downsizing or Rightsizing?

• Lower housing expenses (utilities, taxes, maintenance)
• Unlock home equity to fund retirement, travel, or investments
• Simplify your lifestyle with less upkeep and more freedom
• Improve accessibility or location (closer to family, medical services, or amenities)

Tips to Get Financially Ready

• Know Your Numbers – Understand your current home’s market value. Estimate potential sale proceeds after fees, commissions, and mortgage payouts. Review your monthly budget and expected new living costs
• Plan for Hidden Costs – Legal fees, moving expenses, storage, land transfer tax, and possible renovations. Consider the timing—will you buy before you sell, or vice versa?
• Understand the Tax Implications – If your primary residence is sold, you may be exempt from capital gains—but always double-check with a tax advisor

Financing Options to Consider

• Porting Your Mortgage – If you have a favourable rate, some lenders allow you to transfer your current mortgage to a new property
• Reverse Mortgage – For homeowners 55+, this option lets you access equity in your home without needing to sell or make monthly payments
• Home Equity Line of Credit (HELOC) – Useful for bridge financing or covering upgrades in a new home
• Requalifying for a New Mortgage – If you’re buying a new property, ensure you meet the current stress test and qualification requirements. A pre-approval is key.
• Renting vs Buying – Downsizing doesn’t always mean buying—you may decide to rent and invest your proceeds instead

Pro Tips for a Smooth Transition

• Start Early: Decluttering and prepping a home takes time—start months in advance.
• Consult with your real estate professional to determine your home’s market value and plan to sell.
• Work With a Mortgage Professional: Understand how your retirement income, pensions, or assets affect your borrowing ability
• Get Pre-Approved: Know what you can afford before listing or making an offer
• Consult Your Advisor: Align your move with long-term retirement or estate plans

Thinking of downsizing or just want to explore your options? Let’s chat about how to make the most of your equity, minimize surprises, and finance your next chapter with confidence.

Reni McNeil
Mortgage Brokers Ottawa
Apply online: www.renimcneil.ca
renim@mortgagebrokersottawa.com
License: 11759

News & Updates

• • Here’s how much a GST break could save first time home buyers, Canadian Press & Moneysense, June 10, 2025
  • One-Third Of Canadian Renters Say They Don’t Have Plans To Buy A Home,Storeys, Teagan Sliz, June 19, 2025
  • Homebuilding must nearly double over next decade to restore affordability, says CMHC, Elliot Lake Standard – June 19, 2025
  • The markets: A cautious return to cottage country, National Post, Adam Bisby – June 25, 2025
  • Waiting in the wings: Renters continue to eye path to home ownership, watching for deeper drops in interest rates and home price declines, Royal LePage, June 19, 2025
  • Carney government seeks to cut spending, trim public sector fat, CMP, Jonalyn Cueto, July 8, 2025
  • Rents are falling in Calgary, Toronto, Vancouver and Halifax as supply swells, says CMHC, The Intellingener, Denise Paglinawan, July 8, 2025
  • Federal government invests in the Community Housing Sector to Increase Affordable Housing Supply, CMHC, July 8, 2025
  • KRP turns office tower into apartments in Canada’s largest tech park, RENX.ca, Don Wilcox, July 10, 2025

In the Community

With your help, laughter can replace fear, games can build confidence, and every child can discover a place where they are safe to be themselves. Please join Harmony House in bringing smiles, laughter, and a lifetime of memories to the children living at the Shelter. Together, we can create a summer filled with hope, healing, and happiness.

To learn more about Harmony House click here. To Donate to Harmony House’s Summer Camp Progaram click here.

Things to Do in July 2025

• Ottawa Redblacks – June 13 & more
• Summer Sounds concert series at Andrew Haydon Park – July 9 & more
• A British Car Day – July 10-12
• H.O.P.E. Volleyball SummerFest – July 11-12
• Atletico Ottawa – July 12, 18 & more
• See the Bees – July 12,13 & more
• Light at Night Kayaking – July 19 & more
• Ottawa Bluesfest – July 10 -20
• Let’s Dream Art Show – July 3 -20
• Ottawa Chamberfest – July 18-27

See more events:
Things to do in Ottawa this weekend & Ottawa Tourism 

City of Ottawa Spring Activities and Summer Camps

Selling a Home

To help potential sellers, we’ve created a home sellers’ guide that is divided into several topics, from evaluating your home to receiving offers.

Sellers Resources

• Selling & Buying at the Same Time
• Home Sellers’ Guide
• Staging Your Home
• Creating Curb Appeal
• Reacting to Offers
• Receive $50.00 off from 1-800-GOT-JUNK?
  Contact Us for Details!