The Ottawa real estate market continues to show signs of balance and resilience heading into the summer months. While June 2025 brought solid year-over-year gains in several housing segments, others—particularly the condo market—faced ongoing challenges. Here’s what buyers and sellers need to know based on the most recent data available.
📈 Prices Remain Stable, But Not Uniform
Average home price in Ottawa hit $723,152 in June—up 5.3% from June 2024, though slightly down 0.8% from the previous month.
Median price settled at $665,000, up 3.3% year-over-year.
Benchmark price rose to $634,300, a modest 1.6% annual gain.
These figures suggest a broadly stable market with steady, sustainable growth—particularly in the low-rise housing segments.
🏠 Segment Snapshot: What’s Hot & What’s Not
Single-Family Homes
The average price for a detached home climbed to $872,000, a 5.1% year-over-year increase. The benchmark price of $707,600 also reflects healthy appreciation.Townhouses
Townhomes emerged as the market’s strongest performer. With an average price of $572,000 (up 3.2%), some reports show the benchmark price climbing as high as $467,900—a 9% year-over-year increase.Condos/Apartments
This segment continues to underperform. Average prices dropped 8.1% to $419,000, and sales volume declined by nearly 20%. Rising condo fees, increasing supply, and affordability issues have pushed many first-time buyers to seek alternatives.
📊 Sales Activity & Inventory Trends
1,602 homes sold in June, representing a 10.6% year-over-year increase—but an 11.3% drop from May.
Total sales volume reached $1.15 billion, up 16.3% from the same time last year.
New listings rose to 2,933 (+13.8% YOY), while active listings hit 4,350 (+11.6% YOY).
Months of inventory remained stable at 2.7 months, suggesting a balanced market.
💰 Mortgage Rate Watch
As of late July, the lowest available 3-year fixed mortgage rate hovered around 4.04%. While still elevated compared to pre-2022 levels, this represents a relative plateau, giving buyers a bit more confidence in planning.
🔎 What This Means for Buyers & Sellers
Buyers now have more choices and a slightly less frenzied pace, particularly in the condo market. Strategic decisions and thorough due diligence remain essential, especially in neighbourhoods with newer developments.
Sellers need to be price-savvy. With more inventory on the market, listings that are properly priced and well-prepared are still moving—especially in the townhouse and single-family segments.
📝 Final Thoughts
While the condo segment is experiencing headwinds, Ottawa’s overall housing market remains stable and moderately active. The delayed spring market has pushed momentum later into the summer, with townhouses leading the charge and detached homes showing steady appreciation.
If you're considering buying or selling in Ottawa, it's more important than ever to have a trusted, local real estate expert by your side. Let’s chat about your goals and how we can make the most of the current market conditions.
📩 Ready to make a move?
Get in touch today for a personalized strategy tailored to your needs.
Sources:
crea.ca
cmhc-schl.gc.ca
oreb.ca