Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for October 2025 in the top five "downtown" areas - Centretown, Byward Market and Sandy Hill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what is sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is roughly 14 days for almost every single transaction.
Ottawa’s Market Stays Balanced as Inventory Eases in October
Ottawa’s housing market continued its steady rhythm through October, showing signs of balance as the fall season began to wind down. While sales and prices both nudged upward, inventory levels eased slightly, suggesting the market is settling into a sustainable pace after a busy summer.
Sales and Prices
A total of 1,177 properties sold across Ottawa in October, a small dip of 1.2% compared to the same time last year but up 8.1% from September. The average sale price climbed to $709,002, which is 2.7% higher month over month and 5.7% higher than October 2024. These gains reflect continued buyer confidence and stable demand, even as affordability remains a key factor for many households.
Year to date, 12,197 homes have changed hands — a 3.3% increase over 2024 — for a total value of $8.55 billion, up 6.5% year over year.
Inventory and New Listings
The number of active listings dropped from 4,388 in September to 4,232 in October, a 3.6% decrease. Although supply is still well above pre-pandemic lows, this dip marks a return to the typical fall slowdown. The months of inventory eased from 4.0 to 3.6, keeping Ottawa in a balanced territory where neither buyers nor sellers hold a clear advantage.
There were 2,405 new listings in October, down 15% from September but 13% higher than last year. This mix of stronger annual supply and seasonal cooling points to a market that is finding its footing after several years of volatility.
Home Price Index
According to the MLS® Home Price Index, Ottawa’s composite benchmark price was $622,700 in October, down slightly (0.7%) from September but up 0.7% year over year. By property type:
Single-family homes: $692,400 (up 0.3% year over year)
Townhomes: $456,300 (up 6.6% year over year)
Apartments: $402,900 (up 0.1% year over year)
This steady pricing trend underscores the market’s stability and ongoing demand for a range of housing types.
Interest Rates and Outlook
The Bank of Canada’s second consecutive rate cut on October 29, 2025, lowered the policy rate to 2.25%. The move provided some relief for variable-rate mortgage holders and boosted optimism for next spring. However, the central bank signalled this may be the final cut in the current cycle, and economic caution remains.
OREB President Paul Czan summarized it well: “Ottawa’s market continues to demonstrate balance and resilience. We’re seeing modest growth in sales activity, stable pricing, and a seasonal easing of inventory levels. Buyers and sellers remain watchful of broader economic conditions, but the fundamentals here remain strong.”
What This Means for Buyers and Sellers
For buyers, this fall’s market offers more choice and less competition than the frenzied years of 2020–2022. For sellers, well-prepared homes priced correctly are still moving quickly — the average property spent 26 days on market in October.
Ottawa’s market is ending the year on steady ground: balanced, confident, and setting up for a healthier pace heading into 2026.
Important to note is that these statistics can only be as accurate as there are condos sold in Ottawa. The more condos sold in an area, the more accurate the averages will be.
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