Staying in Touch November 2025 Newsletter

Happy November!

Hello everyone, November is here and hard to believe a few flakes of snow fell this week and more is to come! Holiday season will be here before we know it. It’s a great time to visit some local craft fairs and think about how you will make your home more festive. Can’t forget to prep your home for the winter and protect your investment.

We all still have time to scroll through social media, listen to podcasts & news, it is easy to become inundated with information, real estate included. Even when you are reading trustworthy real estate news, national headlines do not always reflect what is happening in your neighborhood. Real Estate markets are highly local and influenced by local factors, the housing supply, new build construction and the local economy in hi-tech & government. All play a role in buyer and seller confidence in addition to interest rates. We watch neighborhoods closely and if you are thinking of making a change in the new year, we would be happy to give you an update on your neighborhood.

Overall in October our real estate market in Ottawa remained balanced, with demand slightly tighter to supply. There were 4,232 properties (all housing types) on the market at the end of October, a decrease of 3.6% when compared to September 2025 but still 21.3% higher year over year.  The average price for all sold properties in October in Ottawa was $709,002, an increase of 5.7% from last year and a 2.7% increase from September 2025. Months of inventory declined to 3.6 months from 4 months in September.  For more market information read our 50 Years of Change and our newsletter.

This month we’ve included:

• An Update on the Ottawa market and Mortgage information: Getting a Mortgage? Terms to Understand
• Articles: Winter Home Maintenance Checklist, Should You Buy a Home That Needs Work, Spreading Holiday Magic at Home
• Community events to enjoy in our city, including many local area holiday craft fairs to check out!

This month we remember our veterans and thank those who continue to serve. Please see the the Royal Canadian Legion’s list of local Remembrance Day ceremonies and if you can please donate to support them.

If you have any questions or are looking for advice about your real estate investment, please don’t hesitate to reach out to us anytime. We would be happy to help.

Joan, Victoria & Luc

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

Market Update

As of November 6, the Ottawa Real Estate Board reports 1,177 properties (residential & condominiums) sold in October 2025, an increase of 8.1% from September but down 1.2% in homes sold when compared October 2024. There have been 12,197 home sales to date this year which is 3.3% higher than this time in 2024. With the Bank of Canada reducing its key policy interest rate again by 25 basis points to 2.25% on October 29th, along with good choice of homes we will see if this encourages first time buyers to make more purchase decisions this year and in the new year. Generally, homes that are in good condition, location and priced to reflect market value in both resale and in new builds are selling.

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 $622,700 in October 2025, down 0.7% month over month but up 0.7% year over year. Benchmark price for a single family home was $692,400, up 0.3% when compared to October 2024. The benchmark price for a townhouse/row unit was $456,300, up 6.6% compared to a year earlier. The benchmark apartment price was $402,900, slight increase of 0.1% from a year ago.

The average sale price for homes sold in October 2025 was $709,002, increasing 5.7% from October 2024 and 2.7% higher than September. Keep in mind, these are averages so some homes experienced a larger gain and some less, it is key to look at what is happening in your neighborhood, surrounding neighborhoods and with comparable homes.  The year to date average price for Ottawa is $700,869, a 3.0% increase when compared to the first ten months of 2024.

For Kanata, unit sales in October (all housing types) were 125, translating to approximately a 10.6% increase when compared with October 2024.  Year to date, there were 1,297 sales, about 14.3% increase for the same period in 2024. For greater Stittsville, unit sales in October 2025 (all housing types) were 57 units, about a 13.6% decrease from October 2024. Year to date in Stittsville, there were 710 sales, a 3.8% increase for the same period in 2024. In Kanata, the average sale price in October 2025 was $720,259 for all housing types, representing approximately a 1.6% increase when compared to October 2024. For greater Stittsville, the average sale price in October 2025 versus October 2024, increased 1.6% to $814,722 for all housing types. (Source: Ottawa Real Estate Board Residential Market Activity – MLS® Home Price Index – Detailed Report October 2025).

October residential inventory in Ottawa – 2,405 new properties (all housing types) on the market in October 2025, a decrease of 15.1% when compared to September but still 13.4% higher when compared to last year. At the end of October 2025, there were 4,232 homes for sale (all housing types), a 3.6% decrease from September but about a 21.3% increase year over year.

At the end of October 2025, Ottawa’s inventory of homes (all housing types) is 3.6 months, down from 4.0 months of inventory in September. (this is the number of months it would take to sell current inventories at the current rate of sales activity). 3.6 months of inventory is considered a balanced market. 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 October 2025 – 50 Years of Change.

Source: Seasonal Inventory Growth Meets Demand, OREB, Nov. 6, 2025

Latest Mortgage Information

Getting a Mortgage? Terms to Understand

Whether you’re looking to buy your first home, sell your long time home, or refinance your mortgage, you need to understand the key terms used and their importance. Preparation is key to give you the best advantage. Here are some definitions of keys terms.

Pre-Approval for a Mortgage – A pre-approval gives you a clear budget (maximum price) and locks in a rate for up to 120–130 days. It also strengthens your offer when competing for a home as you are able to state that you are pre-approved

Term – The length of time the interest rate is fixed. At the end of the term, the mortgage can be either paid off or renewed for another term.

Amoritization period – The number of  years it will take to repay the loan in full – usually no longer than 25-30 years. Longer amortization periods result in lower payments but also increase the total amount of interest paid. Certain lenders may extend amortization periods up to 30 or 35 years.

Credit Score – Your credit score has a direct impact on the rate and options available to you. Review your report and address any inaccuracies. Pay down credit card balances and avoid taking on new debt.

Down Payment – The portion of the home price that is not financed by the mortgage loan. The buyer must pay the down payment from his/her own funds or other eligible sources before securing a mortgage. Minimum down payment: 5–20%, depending on the price.

Deposit – When buying a house, especially for the first time, it’s easy to confuse the concept of your deposit with your down payment.The deposit is the amount specified on the agreement of purchase and sale and is due within 24 hours of an agreement being accepted by the seller and purchaser. The purchaser’s deposit is held in trust by the real estate brokerage of the seller. The deposit will be applied to the purchase price on closing.

High-ratio mortgage / conventional mortgage – A high ratio mortgage is a mortgage loan higher than 80% of the lending value of the property. A conventional mortgage is a mortgage loan up to a maximum of 80% of the lending value of the property.

Mortgage loan insurance – is typically required for residential mortgage loans with a loan-to-value ratio of more than 80%, and is available from CMHC or private companies. It is important not to confuse mortgage loan insurance with mortgage life insurance, which gives coverage for your family if you die before your mortgage is paid off.

Closing Costs – Usually 1.5–4% of the purchase price (land transfer tax, legal fees, title insurance home inspection, moving, etc.).

Learn more at Mortgage terms and definitions.

For any questions and more information please reach out and we can answer your questions or put you in touch with experienced mortgage professionals.

Kanata North

In the Community

Remembrance Day Ceremonies in greater Ottawa

Find your local Remembrance Day ceremonies through the Royal Canadian Legion Branches at various sites across greater Ottawa.

The National Remembrance Day Ceremony in Ottawa

The Royal Canadian Legion 2025 National Poppy Campaign – to donate and support vetrans & their families

Holiday Craft Fair Season is Beginning!

Check out these events below & more at CRAFTS

National Capital Artisans – Nov. 1 through 29th at different locations/times in Ottawa, see link.

Cheerfully Made Holiday Market – Nov 8-9, 10am-4pm, Almonte Town Hall, 14 Bridge Street, Mississippi Mills

Metcalfe Farmers’ Christmas Market – Nov. 8 and Dec 13, 9:00am-2:00pm, Greely Community Centre, 1448 Meadow Drive, Greely

Mistletoe Fair – Nov. 9, 11am-3pm, at the North Grenville Municipal Centre, 285 County Road 44, Kemptville

Hospice Care Ottawa Holiday Pop Up Shop – Nov. 14, 10am-8pm, Nov. 15, 10am-6:00pm, Nov. 16, 10am-3pm, 1818 Cidery – 1811 Richardson Side Road

Glebe Craft and Artisan Fair – Saturday, Nov. 15: 10 am-5 pm, Sunday, Nov. 16: 11 am-4 pm, Glebe Community Centre, 175 Third Ave, Ottawa

Things to Do in November 2025

• United Way Ultimate Burger Battle -Nov 1-30
• Ottawa Canadian Film Festival – Nov 6-8
• Symposium Gatineau en Couleurs – Nov 7-9
• Kanata Art Club Christmas $200 and Under Sale – Nov 8-9
• 613flea – Nov 8 & more
• Ottawa Rapid FC – Nov 8
• Atlético Ottawa – Nov 9
• Ottawa Senators – Nov 9 & more
• Ottawa 67’s – Nov 12 & more
• Crave Food and Wine Festival – Nov 14-15
• Ottawa Outdoor Film Festival – Nov 15
• Chamberfest Concert Series – Nov 22 & more
• Buzz & Build: Bug Puppet Workshop – Nov 23
• Ottawa Black Bears – Nov 29 & more

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

Ottawa Tourism 

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!