OTTAWA, October 3, 2025 – Ottawa’s housing market in September continued to follow late-summer seasonal trends, with sales easing slightly while inventory levels continued to climb. A total of 1,089 homes sold, down from 1,236 in August and 1,318 in July. This three-month softening is typical as the spring peak transitions into quieter summer months.
The average sale price in September was $690,397, falling between August’s $686,536 and July’s $695,209, and remaining up 0.3% year-over-year. Benchmark prices have remained relatively stable, indicating that demand is holding steady even as buyers gain more choice.
Active listings rose to 4,388 in September, up from 3,971 in August and 4,205 in July. These elevated inventory levels reflect a shift away from undersupplied pandemic-era conditions toward longer-term balanced market levels, though at elevated levels worth monitoring. Months of inventory edged up to 4.0, compared to 3.2 in both August and July, further illustrating balance between buyers and sellers.
On September 17, the Bank of Canada cut its key policy interest rate by 25 basis points to 2.5%, citing slowing global growth and easing inflation pressures. Combined with Ottawa’s resilient demand and balanced market conditions, this rate cut could encourage first-time buyers and stimulate additional market activity in the coming months.
“September reinforced Ottawa’s resilience, with sales nearly 2.4% higher than last year and prices holding steady despite more listings coming to market,” said Paul Czan, OREB President. “Townhomes are driving stability while single-family homes are easing. And while Ottawa’s diversity of housing continues to increase inventory, missing middle housing—like townhomes—still isn’t being built fast enough, and that’s something OREB continues to advocate for.”
Residential Market Activity
Year-to-date, there have been 11,025 home sales, 3.9% higher than at the same point in 2024. The average sale price in September was $690,397, up 0.3% from last year, with a year-to-date average of $699,910, a 2.7% increase over the first nine months of 2024. Total dollar volume in September reached approximately $751 million, a 2.8% increase year-over-year, continuing to contribute significantly to the Ottawa economy.
On the listings side, 2,832 new residential properties were added in September, up 19.3% from last year. Active listings totaled 4,388 units, up 19.4% from September 2024 and roughly 21.8% above the five-year average. Months of inventory rose to 4.0, reflecting what is generally considered a balanced market.
MLS® Home Price Index
The MLS® HPI composite benchmark price in Ottawa was $627,200 in September, a modest 1.1% increase year-over-year. By property type:
Single-family homes: $697,200, up 1.0%
Townhouses: $462,800, up 7.8%
Apartments: $408,200, down 1.7%
.png)
