A total of 809 homes were sold in February 2025 through the MLS® System of the Ottawa Real Estate Board (OREB), marking a 10.2% decrease compared to February 2024. Home sales were 19.1% below the five-year average and 15.4% lower than the 10-year average for February.

"Ottawa’s sales activity moderated while prices held steady," says OREB President Paul Czan. "Despite increased inventory, market uncertainty continues to influence buyer and seller decisions. Some sellers who had previously delayed listing are now entering the market, contributing to more options for buyers. While demand remains strong in certain price segments, the pace of sales varies, making strategic pricing and preparation key for sellers."

Czan adds, "The Bank of Canada’s influence on borrowing power, ongoing economic factors like tariffs, and the potential impact of upcoming elections are also shaping buyer and seller sentiment. As we approach the spring market, we anticipate increased buyer activity, particularly if interest rates trend downward and confidence continues to build."

By the Numbers – Prices:

The MLS® Home Price Index (HPI) provides a more accurate representation of price trends compared to average or median price calculations.

• The overall MLS® HPI composite benchmark price in February 2025 was $658,300, reflecting a 4.4% increase from February 2024.

  • The benchmark price for a single-family home was $719,800, rising 1.3% year-over-year.

  • In contrast, the benchmark price for a townhouse/row unit dropped 11.6% to $438,000.

  • The benchmark price for an apartment reached $459,300, up 4.5% from the previous year.

• The average home price in February 2025 was $669,945, reflecting a 1.4% increase from February 2024.

• The total dollar volume of home sales in February 2025 was $541.9 million, down 8.9% from the same period last year.

OREB advises that while the average sale price can help identify trends over time, it should not be used to determine the value of specific properties. The average price is calculated based on the total dollar volume of all sales, and price trends will differ across neighbourhoods.

By the Numbers – Inventory & New Listings:

• New listings increased 4.8% from February 2024, with 1,668 new residential properties added to the market. This was 10.8% above the five-year average and 6.7% above the 10-year average for February.

• Active residential listings at the end of February 2025 totaled 3,735 units, a 61.4% surge compared to February 2024. Active listings were 95.7% above the five-year average and 51.4% higher than the 10-year average for February.

• Months of inventory stood at 4.6 at the end of February 2025, up from 2.6 in February 2024. This metric represents how long it would take to sell all current listings at the current pace of sales.

Source:www.oreb.ca