Market Update
As of May 6th, the Ottawa Real Estate Board reports 1,306 (residential & condominiums) sold in April 2025, approximately a 18.4% increase in homes sold when compared to March 2025, but a 11.2% decline from April 2024. Home sales were 17.6% below the five-year average and 16.2% below the 10-year average for the month of April. The growing momentum from March to April is a positive sign for both buyers and sellers. Inventory has increased giving buyers more selection. Sellers who price to market value and prepare the home well, are receiving, numerous showings, a good offer and in some cases multiple offers. As the market shifts to be more balanced, it underscores that preparation is key, whether that be reviewing financing and educating yourself on the market in specific neighborhoods, as well as, taking the steps to get a home ready for market.
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 $631,200 in April 2025, an increase of approximately 1.1% when compared to April 2024. Benchmark price for single family home was $703,200, up 1.0% on a year-over-year basis when compared to April 2024. The benchmark price for a townhouse/row unit was $430,000, an increase of 4.4% from a year earlier. The benchmark apartment price was $404,000 representing a 2.8% decrease from a year ago.
The average sale price for homes sold in April 2025 was $707,180, a 0.4% increase from April 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 April (all housing types) were 133, translating to approximately a 14.7% decrease when compared with April 2024. Year to date there have been 415 sales in Kanata, representing a 3% increase for the same period in 2024. For greater Stittsville, unit sales in April 2025 (all housing types) were 67 units, representing approximately a 15.2% decrease from April 2024. Year to date, there have been 211 sales in greater Stittsville, a 13.2% decrease for the same period in 2024. In Kanata, the average sale price in April 2025 was $715,209 for all housing types, representing approximately a 2.4% increase when compared to April 2024. For greater Stittsville, the average sale price in April 2025 versus April 2024, increased 6.9% to $827,264 for all housing types. (Source: Ottawa Real Estate Board Residential Market Activity and MLS® Home Price Index Report April 2025)
April residential inventory in Ottawa – 2,589 new properties (all housing types) on the market in April 2025, a decrease of approximately 3.8% when compared to April 2024 and 2.8% below the five-year average for April. At the end of April, there were 4,878 homes for sale (all housing types), about a 54.2% increase when compared to the end of April 2024 and 86.9% higher when compared to the 5 year average for April.
At the end of April 2025, Ottawa’s inventory of homes (all housing types) was 3.7 months, up from 2.2 months at the end of April 2024 (this is the number of months it would take to sell current inventories at the current rate of sales activity). Keep in mind, each neighborhood will be different, so important to look at your present 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 March 2025 – 50 Years of Change.
Source: Momentum Builds in Ottawa’s Housing Market Amid Greater Uncertainty
