OTTAWA, June 6, 2025 – The Ottawa Real Estate Board (OREB) reports that 1,807 homes were sold through the MLS® System in May 2025. This represents a 33.1% increase over the previous month, a 14.9% rise compared to May 2024, and is 2.5% above the five-year average.*
“Year-to-date home sales activity remains in line with 2024; however, the 33.1% surge over April 2025 suggests we’re experiencing a delayed spring market,” says OREB President Paul Czan. “April’s federal election occupied consumers’ attention, and now we’re seeing a shift in the marketplace. Active listings are on the rise, months of inventory remain steady, and buyers appear to be regaining confidence, re-entering the market and completing transactions. For sellers, however, rising inventory means competitive pricing and strong presentation are more important than ever.”
“Compared to markets like Toronto or Vancouver, which are showing signs of stagnation, Ottawa is holding steady,” adds Czan. “Buyers and sellers are still able to transact fairly, with sale prices remaining close to list, even amid broader economic uncertainty. The Bank of Canada’s recent decision to hold the key interest rate steady may further encourage activity, as buyers feel more confident that rates will not drop further.”
By the Numbers – Prices
The MLS® Home Price Index (HPI) offers a more accurate reflection of price trends than average or median price measures.
The overall MLS® HPI composite benchmark price in May 2025 was $629,800, up 0.8% from May 2024.
Single-family homes had a benchmark price of $700,000, up 0.6% year-over-year.
Townhouse/row units** saw a benchmark price of $446,900, an increase of 3.4% from 2024.
Apartments had a benchmark price of $404,700, a 3.6% decline from last year.
The average price of homes sold in May 2025 was $728,623, a 4.8% increase over May 2024.
Total dollar volume of all home sales in May 2025 reached $1.316 billion, a 20.4% increase from the same period last year.
OREB cautions that while the average sale price can indicate trends over time, it should not be used to determine the value of specific properties, as prices vary by neighbourhood. The average price is calculated based on the total dollar volume of all properties sold.
By the Numbers – Inventory & New Listings
New listings rose 8.7% from May 2024, with 3,430 residential properties added to the market—15.8% above the five-year average.
Active residential listings reached 4,347 units at the end of May 2025, a 13.5% increase from May 2024 and 54.2% above the five-year average.
Months of inventory remained steady at 2.4, unchanged from the previous year. This figure represents the number of months it would take to sell current inventories at the current sales pace.
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