Ottawa’s housing market closed out 2025 with a familiar seasonal slowdown, but beneath the quieter December numbers lies a year defined by balance, resilience, and steady fundamentals.
While sales activity eased through late fall and early winter, the overall picture for 2025 remained positive. Total residential sales finished 1.3% higher than 2024, and total dollar volume rose 4.1% year over year, reinforcing that Ottawa’s market avoided the volatility seen in some larger Canadian cities.
A Year That Didn’t Follow the Usual Pattern
Unlike a typical year, Ottawa’s market experienced a delayed spring, followed by a steady summer that skipped the usual mid-year lull. Activity gradually cooled again in the fall and early winter — a return to more normal seasonal behaviour rather than a sign of distress.
This unconventional rhythm ultimately resulted in a market that stayed balanced throughout the year, driven more by supply and demand fundamentals than urgency or speculation.
December Activity: Quiet but Expected
December saw 587 residential sales, a drop from November but right in line with historical December averages when excluding pandemic-era anomalies. Buyer caution remains evident, but the slowdown largely reflects normal holiday season dynamics.
On the supply side, active listings declined month over month, falling to 2,544 units, yet inventory levels remain higher than what Ottawa has typically seen in recent Decembers. In fact, year-end active listings were:
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19% higher than 2024
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45% higher than 2023
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Nearly double 2022 levels
Months of inventory rose to 4.3, bringing conditions closer to long-term, pre-pandemic norms and offering buyers more choice than they’ve had in several years.
Prices Holding Steady
Despite shifting conditions, prices remained broadly stable. The average residential sale price in December was $658,943, essentially unchanged from a year earlier.
Benchmark prices have softened slightly since the summer, but still ended 2025 marginally above 2024 levels. This points to gradual price adjustment rather than sharp correction — a sign of a market that is recalibrating, not retreating.
Different Stories by Property Type
Market conditions continue to vary significantly depending on property type:
Single-Family Homes
Detached homes remain Ottawa’s strongest segment. With balanced inventory and consistent demand, benchmark prices edged up 0.4% year over year, supported by limited supply and long-term buyer interest.
Townhomes
Townhomes are experiencing modest adjustment. Inventory remains slightly elevated, and benchmark prices declined 3.7% year over year, though average sale prices dipped only 1.4%. Continued interest from first-time buyers has helped stabilize this segment.
Apartments (Condos)
Condos remain the softest part of the market. Months of inventory climbed to nearly eight, well above balanced levels, and benchmark prices declined year over year. While Ottawa has not seen severe condo oversupply, this segment is one to watch closely in 2026.
Months of Inventory by Property Type:
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Single-family homes: 4.3
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Townhomes: 2.8
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Apartments: 7.9
Looking Ahead to 2026
As Ottawa moves into 2026, market momentum is expected to improve gradually rather than quickly. Interest rate relief has helped support confidence, but buyers remain measured and attentive to broader economic conditions.
The takeaway for both buyers and sellers is clear: Ottawa’s housing market remains stable, increasingly segmented by property type, and guided by fundamentals — not urgency. For those planning a move this year, strategy and local expertise will matter more than ever.
