5 Red Flags to Watch for When Buying a Condo in Ottawa

Buying a condo in Ottawa can be an exciting step, whether you’re a first-time buyer, downsizer, or investor. But not all condos are created equal. While a great unit in a solid building can offer incredible lifestyle and financial benefits, a poor choice can lead to frustration, surprise costs, and a lot of regret.

Before you sign on the dotted line, here are five red flags that could signal deeper issues with the unit, building, or condo corporation:

1. Sky-High or Rapidly Rising Condo Fees

A monthly condo fee isn’t unusual—it covers things like building maintenance, management, insurance, amenities, and often heating or water. But if the fee seems unusually high (compared to similar buildings) or has jumped significantly year over year, it could point to poor financial planning or upcoming capital expenses that weren’t properly forecasted.

Tip: Ask for a breakdown of what’s included and review the last 2–3 years of fee history. Your lawyer or agent can help compare it to similar properties.

2. Low Reserve Fund Balance

Ottawa condo corporations are required to maintain a reserve fund—a savings account to pay for major repairs like roofing, elevators, or parking garage work. A low or insufficient reserve fund could mean that big expenses down the road will require a special assessment (a one-time fee paid by all owners).

Tip: Have your real estate lawyer review the status certificate. This will include the reserve fund balance, upcoming expenses, and any history of special assessments.

3. Ongoing Lawsuits or Legal Issues

If the condo corporation is involved in a lawsuit, especially related to construction defects, builder disputes, or management, it’s a red flag. Legal battles can drain reserve funds and scare off future buyers, impacting resale value.

Tip: Again, the status certificate will disclose any legal proceedings. If anything looks unclear, your lawyer can request more detail.

4. Poor Building Maintenance or Neglect

What does the building feel like when you walk in? Dirty hallways, burned-out lights, non-functioning elevators, or landscaping that’s seen better days can signal poor management or an inattentive board. These are the same people responsible for making decisions about repairs and money.

Tip: Visit the building at different times of day. Is the lobby clean? Are the common areas in good shape? Does security seem active and present?

5. Frequent Listings in the Same Building

While some turnover is expected, too many listings—especially if units seem to sit unsold or change hands frequently—can mean something’s off. Maybe it’s noise, poor construction, or a mismanaged board. Or maybe owners just don’t love living there.

Tip: Ask your agent to pull sales history in the building and check how long units typically stay on the market. If the building doesn’t hold value well, dig into why.

Final Thoughts

Buying a condo is about more than just liking the unit. You’re also buying into the building, the management, and the financial health of the condo corporation. Taking the time to do a bit of due diligence now can save you thousands—and a lot of headaches—down the line.

Want help finding a condo that checks all the right boxes?

8 Things Every Buyer Should Know Before Purchasing a Condo in Ottawa

Buying a condo in Ottawa is one of the most accessible ways to enter the real estate market, but it comes with its own set of rules. From maintenance fees to reserve funds, there’s a lot to consider before making a move.

Here’s what every buyer should know before purchasing a condominium in Ottawa.

1. Not All Condos Are Created Equal

From converted warehouses in Centretown to glass towers in Little Italy, Ottawa offers a wide range of condo styles.

Before shopping, ask yourself:

• Do I want a high-rise with full amenities or a boutique walk-up?

• Do I care more about views, location, or square footage?

• Am I okay with paying higher fees for more features?

Understanding your lifestyle needs will help narrow down your options.

2. Monthly Condo Fees: What’s Included?

Condo fees vary widely in Ottawa and often depend on the size of the unit, age of the building, and amenities included.

Typical inclusions:

• Building insurance

• Maintenance of common areas

• Water and heating (in some cases)

• Concierge or security services

Make sure to ask for a breakdown—and don’t forget to factor it into your monthly budget.

3. You’ll Need a Status Certificate

Before finalizing a purchase, your lawyer will review the Status Certificate. This document outlines the condo corporation’s financial health, bylaws, reserve fund, and any ongoing legal issues.

It’s one of the most important steps in protecting yourself as a buyer—don’t skip it.

4. Reserve Funds Matter

A healthy reserve fund means the building is prepared for major repairs, like roof replacement or elevator upgrades.

Low reserves may mean a special assessment—an extra bill you’ll be expected to help cover. A well-managed condo should have detailed records of future expenses and savings plans.

5. You May Be Subject to Rules and Bylaws

From pet restrictions to balcony décor, condos often have bylaws that govern what you can (and can’t) do in your unit.

Be sure to review the condo documents so you’re not surprised by rules like:

• No short-term rentals

• Smoking restrictions

• Limits on renovations

6. Parking and Storage Are Not Always Included

Not all condos come with a parking space or storage locker.

If either is important to you, double-check:

• Is it included in the purchase price?

• Is it deeded separately or assigned?

• Can you rent or sell it later?

7. Amenities Can Add Value—or Go Unused

Pools, gyms, party rooms, and rooftop terraces are great selling points—but only if you’ll actually use them.

Keep in mind: amenities often mean higher condo fees and require ongoing maintenance. Choose buildings that align with your lifestyle, not just your wish list.

8. Resale Potential Still Matters

Even if this is your forever home, life can change.

When buying a condo, consider:

• The walkability and transit options

• Nearby developments that could impact value

• Reputation of the builder or management company

Working with a local REALTOR® who knows the buildings can make all the difference.

Ottawa Condo Market Statistics - May 2025

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 May 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.

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Ottawa’s real estate market is proving resilient this spring, showing a healthy boost in buyer activity and steady pricing across most segments. In May 2025, a total of 1,807 homes were sold through the Ottawa Real Estate Board (OREB), marking a 33.1% jump from April and a 14.9% increase year-over-year. This puts sales slightly above the five-year average, despite the market’s late seasonal start.

A Delayed Spring, Not a Cooldown

This year’s spring market took longer to arrive, with April's federal election occupying much of the public's attention. As the dust settled, buyers began to re-engage, pushing May’s activity significantly higher.

OREB President Paul Czan explains, “We’re seeing renewed buyer confidence, with listings increasing and market activity picking up. The steady months of inventory signal that buyers and sellers are finding balance. Still, sellers should note that more competition means pricing strategically and presenting well is more important than ever.”

Ottawa’s Market Stands Strong Nationally

While some larger markets like Toronto and Vancouver are showing signs of slowing down, Ottawa continues to perform steadily. Homes are still selling close to asking price, and the recent decision by the Bank of Canada to hold interest rates has added further confidence for buyers unsure about future rate cuts.

Market Snapshot: Home Prices in Ottawa – May 2025

• Benchmark Price (All Property Types): $629,800 (+0.8% year-over-year)

• Single-Family Homes: $700,000 (+0.6%)

• Townhouses/Row Units: $446,900 (+3.4%)

• Apartments: $404,700 (−3.6%)

• Average Sale Price (All Homes): $728,623 (+4.8%)

• Total Sales Volume: $1.316 billion (+20.4%)

While average sale price can reflect general trends, OREB cautions it should not be viewed as a direct measure of value increases for individual homes. Market conditions and pricing vary greatly by neighbourhood and property type.

Inventory on the Rise

May also saw a healthy rise in new listings, with 3,430 properties hitting the market—an 8.7% increase over last year and 15.8% above the five-year average. At the end of the month, 4,347 active residential listings were on the board, marking a 13.5% year-over-year increase. Inventory levels have grown significantly, sitting 54.2% above the five-year average, offering buyers more choice than in previous years.

Months of inventory—a key indicator of supply—remained stable at 2.4 months, consistent with the same time last year.

What This Means for Buyers and Sellers

• Buyers: Increased inventory and stable prices make this a favourable time to re-enter the market with more options and less pressure.

• Sellers: With competition heating up, proper pricing, marketing, and presentation are essential to standing out.

As Ottawa settles into a more balanced market, both buyers and sellers can move forward with greater clarity. Whether you're thinking about making a move this summer or planning ahead, now is a great time to speak with a local real estate expert about your strategy.

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.

Want to chat about your options? Fill out the form at the bottom of the page, or text/call us directly at 613-900-5700 or fill out the form at the bottom of the page.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

Why Ottawa’s Condo Market Is Better Positioned Than Toronto’s in 2025

As we move through 2025, there’s a noticeable shift happening in the Canadian real estate market—one that’s especially clear when you compare two of the country’s most watched cities: Ottawa and Toronto.

While Toronto continues to feel the weight of oversupply, price corrections, and investor hesitation, Ottawa’s condo market has quietly emerged as a more balanced, resilient, and accessible alternative. Whether you’re a first-time buyer, investor, or simply looking for long-term value, there are a few key reasons Ottawa’s condo market is better positioned in 2025.

1. Price Stability and Affordability

Ottawa’s condo market continues to offer consistent value. The average condo price in the city remains comfortably below the national average, giving buyers more room to enter the market without stretching their finances.

In contrast, Toronto’s condo prices have seen a more dramatic year-over-year decline. While the city’s higher average pricing once signalled strong demand and appreciation, that trend has slowed significantly. An influx of inventory and a decrease in buyer activity have made Toronto’s market more volatile and less predictable in 2025.

For Ottawa buyers, this means less speculation, steadier appreciation, and more confidence in long-term investments.

2. Balanced Market Conditions

Ottawa is currently operating in a balanced market. Sales and listings are relatively even, giving buyers and sellers equal footing and reducing the extremes of bidding wars or prolonged days on market.

Toronto, on the other hand, has entered a firm buyer’s market, with sales struggling to keep pace with the volume of listings. While that might seem like an advantage for buyers on the surface, in reality it reflects market instability—and for many, that translates to hesitation and uncertainty.

If you're looking for a more dependable buying experience with reasonable competition and healthy demand, Ottawa’s current market conditions offer exactly that.

3. Stronger Rental Fundamentals

In 2025, Ottawa’s rental market is showing strong performance. Rent prices continue to climb modestly, vacancy rates remain low, and tenant demand is steady—particularly near government hubs, hospitals, and universities.

Meanwhile, Toronto’s rental market has softened. Rents have dipped slightly, and a surge of newly completed units is adding pressure. For condo investors, this means Ottawa offers a more secure rental return and fewer concerns about unit turnover or vacancy.

If you’re buying a condo as an investment or considering house-hacking with a roommate, Ottawa’s rental fundamentals help make that decision much easier.

4. Smarter Supply Growth

One of the biggest differentiators between the two cities is how each is handling supply. Toronto’s skyline is dotted with cranes, and 2025 will mark one of the biggest years yet for condo completions. While this was once a sign of strength, it’s now contributing to oversupply issues and prolonged absorption rates.

Ottawa, by contrast, has taken a more measured approach. The number of condo developments remains manageable and better aligned with population growth and buyer demand. This careful pacing has helped protect property values and maintain demand in the resale market.

If you’re concerned about buying into an oversaturated neighbourhood or building, Ottawa’s growth strategy provides some welcome peace of mind.

5. Long-Term Investor Confidence

Ottawa doesn’t always get the same attention as Toronto, but that might be its greatest strength. With a strong public sector employment base, low unemployment, a growing tech scene, and continued infrastructure investment, Ottawa offers a healthy foundation for long-term real estate appreciation.

Toronto’s investor base, while still active, has become more cautious. Concerns around affordability, rent control, holding costs, and capital gains have made buyers think twice.

In Ottawa, the equation is simpler: lower entry prices, consistent tenant demand, and fewer signs of market overheating. It’s not just a safer bet—it’s a smarter one.

Final Thoughts

Toronto may be Canada’s biggest city, but in 2025, Ottawa’s condo market is proving itself to be the better buy. If you’re looking for a combination of affordability, lifestyle, and stable long-term value, Ottawa deserves your full attention.

At mattrichling.com, we specialize in Ottawa’s best condo buildings and investment properties. Whether you’re buying your first home or growing your portfolio, we’ll help you find the right property, in the right location, at the right time.

Let’s make your next move a smart one.

Why Ottawa’s Condo Investors Should Pay Attention to the City’s New Short-Term Rental Rules

Short-term rentals have long been a popular investment strategy in Ottawa, especially for condo owners looking to generate passive income. But in 2025, new municipal regulations have come into effect that significantly impact how, when, and even if condo units can be used for short-term rentals like Airbnb and Vrbo.

If you're a current or aspiring investor, this is not just another bylaw — it could be a game-changer for your portfolio.

Let’s unpack what’s changed, how it affects condo owners, and what smart investors are doing now to adapt.

Understanding the 2025 Short-Term Rental Rules in Ottawa

In an effort to regulate the short-term rental market, protect long-term housing supply, and ensure safety and compliance, the City of Ottawa has rolled out strict new rules. These came into full effect in January 2025 and apply to anyone offering accommodations for less than 28 consecutive days.

Here’s what you now need to operate a short-term rental legally:

• A City-issued permit for any short-term rental unit

• Proof that the property is your primary residence, in most zoning areas

• Proper insurance coverage for short-term rental activity

• Registration on an official city database with a visible permit number on all listings

• Compliance with condo corporation rules and zoning bylaws

In essence, short-term rentals are now only permitted in primary residences — and even then, you must meet specific criteria.

Can Condo Owners in Ottawa Still Use Airbnb Legally?

Yes — but there are significant limitations.

If you live in the condo as your primary residence, you can legally operate a short-term rental (assuming you obtain the permit, meet all insurance requirements, and your condo board allows it).

If it’s an investment property or secondary unit, you’re out of luck in most cases. The City’s rules restrict short-term rentals in secondary or non-owner-occupied dwellings, particularly in residential zones (R1–R4).

That means many popular condo investment strategies that relied on Airbnb revenue are no longer viable — especially in downtown cores like Centretown, Sandy Hill, and Little Italy, where zoning is strict and condo boards are cracking down.

What If My Condo Board Doesn’t Allow Short-Term Rentals?

Even if your unit qualifies under the city’s bylaw, your condo board has the final say.

Many Ottawa condo corporations — especially in buildings constructed in the last 10–15 years — have amended their bylaws to prohibit short-term rentals altogether. Why?

• Increased wear-and-tear on common areas

• Concerns about security and unauthorized guests

• Complaints from long-term residents

• Insurance and liability concerns

If your board bans it, you can’t operate — full stop. You could be fined, sued, or forced to sell. It’s critical to review your condo’s declaration and bylaws before investing.

How This Impacts Ottawa Condo Investors in 2025

For some, this may seem like a reason to abandon condo investing entirely. But in truth, it just means shifting your strategy.

Instead of banking on Airbnb, many investors are now pivoting to long-term rental income. The good news? Demand for rental condos in Ottawa is rising — and with less competition from short-term units, long-term landlords may actually benefit from stronger tenant pools and fewer vacancies.

Things to consider in your new investment strategy:

• Rental demand by neighbourhood: Proximity to transit, universities, hospitals, and downtown still matters.

• Unit type and finishings: Tenants are seeking turn-key, modern units with laundry, storage, and flexible layouts.

• Monthly carrying costs vs. rent: With mortgage rates fluctuating, do the math carefully to ensure your investment cash flows or breaks even.

Neighbourhoods Where Long-Term Rentals Still Perform Well

If you're rethinking your next condo investment in Ottawa, here are a few areas where long-term rentals remain strong:

• Hintonburg & Wellington West: High walkability, trendy cafés, and easy access to downtown via LRT.

• Little Italy / Preston Street: Still booming with demand from students, young professionals, and hospital staff.

• Sandy Hill: Close to the University of Ottawa and Rideau Centre, ideal for student rentals.

• Glebe & Old Ottawa South: Highly desirable for families and professionals alike, especially for two-bedroom or larger units.

Can You Still Make Money with Short-Term Rentals in Ottawa?

In some cases, yes — but only if:

• You live in the unit full-time and only rent it out while you’re away

• You have a fully legal secondary dwelling unit in your home (not a condo)

• Your condo board explicitly permits short-term rentals in writing

That’s a much narrower field than before, and it’s pushing many former Airbnb owners to either convert to long-term or sell and reinvest elsewhere.

Tips for Investors Moving Forward

1. Do your research on zoning and bylaws before purchasing any condo unit.

2. Always ask to review condo board meeting minutes and bylaws before firming up your offer.

3. Talk to your mortgage broker about financing options suited to rental properties.

4. Work with an agent who understands investment properties and Ottawa’s ever-evolving municipal policies.

Time to Rethink the Condo Investment Playbook

Ottawa’s short-term rental market has changed — and so should your strategy.

While the days of running hands-off Airbnb units in your spare condo may be over, there’s still plenty of room for smart investing in Ottawa’s condo market. Long-term rentals remain in high demand, and condo ownership offers long-term equity growth, tax advantages, and predictable income streams.

Need help finding a condo that fits the new rules of the game? I’ve helped hundreds of investors build smart, sustainable portfolios in Ottawa — and I’d love to help you next.

Get in touch here for a no-pressure conversation.

The Unexpected Perks of Living in a Downtown Ottawa Condo

When most people think about buying a condo in Ottawa, they focus on square footage, monthly fees, and how close the nearest LRT stop is. And sure, those things matter—but condo living is about more than just logistics.

If you’ve ever wondered what it’s really like to live in a downtown Ottawa condo, here’s a look at the underrated benefits you might not expect (and why so many people never want to go back to suburban living once they’ve made the move).

1. Everything Becomes a “Walk”

Living downtown means your definition of distance changes completely. Need groceries? The Rideau Centre? A spin class? A date-night cocktail? You’re probably walking there. And if not, it’s a five-minute bike or Uber.

Downtown condo living gives you true walkability—something that suburban developments try to market but rarely deliver. It’s not just convenient, it’s a lifestyle.

2. No Yardwork, No Guilt

It’s Saturday morning, and your suburban friends are mowing lawns, raking leaves, or trying to fix a leaky roof. You? You’re sipping coffee in your pyjamas on your balcony, deciding whether to check out the new brunch spot on Elgin or head to the ByWard Market.

Condos take the “maintenance” out of homeownership. There’s freedom in knowing you don’t have to do anything but enjoy where you live.

3. A Front-Row Seat to Ottawa Culture

From food festivals to art markets to pop-up patios, Ottawa’s downtown is constantly buzzing. Living in a condo puts you in the middle of it all. You’re not planning an outing—you’re already there.

And with venues like the NAC, Lansdowne, and Parliament Hill just steps away, you’ll find yourself saying yes to more events (and actually going).

4. Built-In Security and Peace of Mind

Most downtown condo buildings include secure entrances, underground parking, and even concierge services. It’s a different feeling when you leave for a weekend trip knowing your mail is locked up, your car is inside, and your front door is protected.

This added layer of security is especially valuable for solo buyers, frequent travellers, or anyone who just wants to feel safe in the city.

5. Smarter Use of Space

Condos tend to encourage you to live with intention. You’re not paying to heat three extra rooms you never use. Instead, you’ve got exactly what you need—and often, smart design means storage, built-ins, and flexible layouts that work better than larger homes.

Plus, many buildings include amenities like gyms, rooftop terraces, and lounges—so your living space extends well beyond your unit.

6. Real Community, Without the Chit-Chat

One of the biggest surprises for many condo buyers? A sense of community. You get to know your neighbours—not because you’re knocking on their door for a cup of sugar, but because you see them in the elevator, or on the rooftop, or during a fire alarm drill at 3 a.m. (hey, it happens).

It’s connection without pressure. Privacy with just enough interaction to feel like you belong.

The Bottom Line

Living in a downtown Ottawa condo isn’t just about convenience or affordability—it’s about how you want to spend your time. Whether you’re a first-time buyer, a remote worker looking to ditch the suburbs, or someone who’s ready for a lifestyle shift, a condo can unlock more than just equity—it can unlock ease, freedom, and access to the best parts of the city.

Looking for a condo that fits your lifestyle?
We know every building. Let’s find the one that fits you.

Why Buying a Condo Is Still One of the Smartest Moves You Can Make in Ottawa

When it comes to building long-term wealth, owning a condo in Ottawa remains one of the most accessible and strategic ways to get into the real estate market, especially if you’re a first-time buyer or looking for a low-maintenance lifestyle.

But beyond the obvious reasons like location and affordability, there are a few less-talked-about benefits to condo living that still make it a smart move in 2025.

1. Built-In Maintenance = Built-In Peace of Mind

If you're not into snow shovelling, lawn mowing, or emergency roof repairs, condo life gives you the freedom to live without the chores of traditional homeownership. Your monthly condo fees go toward shared services like building upkeep, snow removal, landscaping, and more, so you can focus on living, not labour.

2. Location Without Compromise

Condos often exist where freeholds can’t: right in the heart of the city. Want to live steps from the Canal, Parliament Hill, or your downtown office? A condo might be your best—and only—affordable way to do it. This kind of access is part of what keeps condos in demand over time.

3. Predictable Monthly Costs

Your condo fee covers shared expenses, which means fewer financial surprises. While the idea of monthly fees turns some people off, many buyers actually appreciate knowing exactly what’s included, and budgeting becomes easier when you’re not constantly worried about the next big home repair.

4. A Great First Step into the Market

For first-time buyers, condos can offer a lower price point, fewer maintenance responsibilities, and a smart way to build equity. Even if your long-term goal is a freehold, getting into the market with a condo lets you grow your investment while living in a place you love.

5. Lifestyle Amenities You Actually Use

Many modern condo buildings come with lifestyle perks like fitness centres, rooftop terraces, bike storage, concierge service, or guest suites. These aren’t just nice-to-haves—they’re quality-of-life upgrades that can make your day-to-day feel more comfortable and connected.

Final Thoughts

The truth is, condo living isn’t for everyone. But if you value simplicity, community, location, and a more streamlined approach to homeownership, it’s worth exploring your options. Whether you’re looking for a minimalist bachelor unit or a penthouse with skyline views, there’s likely a condo in Ottawa that fits your lifestyle—and your budget.

Ready to start your search? Let’s talk.

Is It Time to Upgrade Your Ottawa Condo? Here’s Why 2025 Might Be the Perfect Moment

If you’ve been living in your Ottawa condo for a few years, you might be wondering: Should I make a move? Is there something better out there?

Whether your lifestyle has changed or you’re simply ready for more space, upgrading your condo could be the right next step. And in 2025, the timing might be ideal.

Let’s break down what’s happening in the Ottawa condo market right now—and why moving to a bigger or more luxurious unit might be easier (and smarter) than you think.

You’ve Likely Built Equity—Now You Can Use It

Condo prices in Ottawa have seen steady growth, especially in core neighbourhoods like Centretown, Little Italy, and Westboro. If you bought before 2022, there's a good chance you've built equity that can now be used as a down payment on a larger unit—or even a luxury condo.

According to the Ottawa Real Estate Board, the average condo sale price in April 2025 was up 3.2% year-over-year, while inventory levels rose, offering more selection to buyers.

If you're not sure where you stand, get a free condo valuation and we’ll break down your options.

The Market Is Giving Buyers More Leverage

Unlike the frenzied years of 2020–2022, the condo market in 2025 is more balanced. We’re seeing less competition and more high-quality listings, particularly in buildings where units rarely come up for sale.

This means you don’t have to compromise—you can take your time to find the layout, view, and amenities that truly match your lifestyle.

Buildings worth watching this year include:

• The Charlotte (Sandy Hill)

• Claridge Icon (Little Italy)

• The Rideau at 1035 Bank (Glebe)

• The Metropole (Westboro)

You Know What You Want—And What You Don’t

Once you've lived in a condo, you're no longer guessing. You know which layouts work. You understand the value of soundproofing, balcony exposure, building maintenance, and elevator speed.

Whether you’re looking for a dedicated office space, a larger kitchen, or an extra bedroom for guests, upgrading now lets you buy with intention.

Luxury Is More Attainable Than You Think

A “luxury condo” doesn’t have to mean an eye-popping price tag. In fact, many of Ottawa’s most desirable units offer long-term value through:

• Higher-quality finishes

• Better building amenities

• Lower condo fees per square foot

• Underground EV-ready parking

• Smart layouts that grow with you

When you factor in your equity, a luxury upgrade might not be out of reach at all.

You’re Thinking Long-Term

Maybe you’re ready to host family dinners. Or maybe you're prioritizing walkability, security, and peace of mind. Whatever your goals, your condo should support your future, not just your present.

We help our clients transition into that next chapter with ease, without sacrificing comfort, timing, or control.

FAQ: Upgrading Your Ottawa Condo

Q: How do I sell and buy at the same time?
We work with you to time your sale and purchase to avoid stress. This can include bridge financing or negotiating flexible closing dates to keep things smooth.

Q: What kind of upgrade can I afford?
It depends on your current equity and the neighbourhoods you're targeting. We’ll connect you with a trusted mortgage advisor to get the full picture.

Q: What areas in Ottawa are best for luxury condo living?
The Glebe, Westboro, Little Italy, and Centretown continue to lead for boutique and high-end buildings with amenities that appeal to long-term owners.

Ready to Explore the Upgrade?

At MattRichling.com, we don’t just help people buy condos—we help them level up. If you're starting to think about what's next, let’s talk strategy.

Request a personalized valuation or reach out to start the conversation.

Your next space could be the one that finally feels like home.

What $500,000 Buys You in Ottawa’s Condo Market in 2025

If you’re looking to buy a condo in Ottawa in 2025, the $500,000 price point is where things get interesting. It’s the sweet spot between entry-level affordability and elevated lifestyle — but what you get for your money can vary wildly depending on where and what you’re buying.

Here’s a closer look at what $500,000 actually gets you in today’s Ottawa condo market — and what to know before you start your search.

Neighbourhood Breakdown: Where to Look

1. Centretown & Golden Triangle
These areas are known for walkability, Parliament views, and proximity to downtown offices. For $500K, expect:

• 1-bed + den or 2-bed units in established buildings like The Mondrian or The Bowery

• ~700–900 sq. ft.

• Access to rooftop terraces, gyms, and indoor parking (though not always included)

• A blend of classic concrete construction and newer glass towers

2. Westboro & Hintonburg
For buyers who want trendy coffee shops, local boutiques, and access to the O-Train:

• 1-bed units with high-end finishes in boutique buildings like The Eddy or UpperWest

• Some 2-beds in older, lower-rise buildings

• Less square footage but strong appreciation potential

• High rental desirability if you’re buying as an investment

3. The Glebe & Old Ottawa East
These neighbourhoods offer fewer condo buildings but lots of lifestyle appeal. At $500K, you might find:

• 1-bed units in modern developments like Greystone Village

• River views or green space nearby

• Top-tier walkability and access to Bank Street shops, Lansdowne, and trails

4. ByWard Market & Lowertown
Close to nightlife, restaurants, and the Rideau Centre:

• You can still find spacious 2-bedroom units in older buildings

• Newer buildings (like Claridge Moon or 700 Sussex) are tighter on space but high on finishes

• Think hotel-style amenities, concierge service, and strong long-term value

What to Expect Inside

At the $500K mark, most buyers can expect:

• Stainless steel appliances

• Stone countertops

• In-unit laundry

• 9' ceilings (in many cases)

• One bathroom, though 1.5–2 bathrooms are still possible in older layouts

• One parking space is common but not guaranteed — especially downtown

The tradeoff in newer buildings is often square footage vs. finish quality, while older buildings may offer more space with dated interiors (which can be upgraded).

Market Conditions in 2025

• The average condo price in Ottawa sits around $437,000 as of early 2025, but $500K gives you access to better layouts, views, and buildings in prime locations.

• Condos have seen a 3–5% increase in value year-over-year, depending on neighbourhood.

• Inventory is relatively balanced, but well-priced, well-marketed units in top locations still move quickly.

Pro Tips from the Field

• If you want two bathrooms, look in older buildings. Many 1990s and early 2000s buildings offer generous layouts at better value per square foot.

• Corner units and higher floors carry premiums, but they also hold value better over time.

• Parking adds $30,000–$60,000 in value, depending on location — and it’s becoming increasingly rare in new builds.

• Avoid high condo fees without justification. Look for buildings where the fees reflect real amenities and maintenance, not just poor management.

Final Thoughts

Ottawa's condo market in 2025 offers a wide range of options for the $500,000 buyer — from minimalist bachelor pads with skyline views to roomy two-bedrooms in walkable neighbourhoods. Whether you're buying your first place, downsizing, or investing, the key is knowing your must-haves and working with someone who knows where to find them.

At mattrichling.com, we specialize in helping clients navigate the condo market with clarity, confidence, and local insight. If you're thinking of buying a condo in Ottawa this year, let's talk — and let’s find something that’s worth every penny.

Freehold vs. Condo in Ottawa: Which One’s Right for You in 2025?

Whether you're buying your first condo or adding to your investment portfolio, one question matters more than most: will it hold its value? In Ottawa’s evolving condo market, not all buildings are created equal — and long-term resale potential comes down to more than just square footage or finishes.

Here’s what we look for when evaluating whether a condo is likely to retain its value over time:

1. Location Still Reigns Supreme
It’s a cliché for a reason. Proximity to transit, downtown employment hubs, grocery stores, nightlife, or the Rideau Canal adds long-term demand. Walkable neighbourhoods like Centretown, Westboro, Little Italy, and The Glebe consistently perform well — and tend to weather market shifts more smoothly.

2. Quality of Construction
Buyers are getting smarter. They’re asking about soundproofing, HVAC systems, building envelope issues, and more. Well-built concrete buildings (especially those with good reserve fund studies and proactive condo boards) almost always hold their value better than cheaper, poorly maintained options.

3. Building Reputation
Ottawa’s real estate community talks — and so do residents. Certain names like Domicile, Charlesfort, and Ashcroft (Q West series) tend to have better track records when it comes to quality, service, and resale. If a building has a history of major repair issues or lawsuits, that reputation can drag down value even in a hot market.

4. Amenities that Actually Matter
Pools are nice. So is a rooftop terrace. But what’s essential is well-managed amenities that don’t push condo fees into the stratosphere. Think practical: in-unit laundry, decent storage, efficient elevators, parking that isn’t a daily headache, and bike storage.

5. Strong Management & Financials
A good condo board and a healthy reserve fund matter. We review these documents for every buyer, and for good reason: buildings with strong governance are able to keep up with maintenance and avoid unexpected special assessments that scare off future buyers.

6. Supply and Demand Within the Building
In larger buildings, it’s easy to overlook the internal supply curve. If 8 identical units are always listed at the same time, that’s a red flag. Boutique buildings or units with a truly unique layout, view, or outdoor space tend to perform better over time.

The Bottom Line?
Buy the right condo, and it will hold its value — even when the market shifts. At mattrichling.com, we specialize in helping buyers and investors find the best-performing buildings and avoid costly surprises. Curious about which buildings in Ottawa are holding strong in 2025? Reach out to us — and let’s talk strategy.

What Makes a Condo Hold Its Value in Ottawa?

Whether you're buying your first condo or adding to your investment portfolio, one question matters more than most: will it hold its value? In Ottawa’s evolving condo market, not all buildings are created equal — and long-term resale potential comes down to more than just square footage or finishes.

Here’s what we look for when evaluating whether a condo is likely to retain its value over time:

1. Location Still Reigns Supreme
It’s a cliché for a reason. Proximity to transit, downtown employment hubs, grocery stores, nightlife, or the Rideau Canal adds long-term demand. Walkable neighbourhoods like Centretown, Westboro, Little Italy, and The Glebe consistently perform well — and tend to weather market shifts more smoothly.

2. Quality of Construction
Buyers are getting smarter. They’re asking about soundproofing, HVAC systems, building envelope issues, and more. Well-built concrete buildings (especially those with good reserve fund studies and proactive condo boards) almost always hold their value better than cheaper, poorly maintained options.

3. Building Reputation
Ottawa’s real estate community talks — and so do residents. Certain names like Domicile, Charlesfort, and Ashcroft (Q West series) tend to have better track records when it comes to quality, service, and resale. If a building has a history of major repair issues or lawsuits, that reputation can drag down value even in a hot market.

4. Amenities that Actually Matter
Pools are nice. So is a rooftop terrace. But what’s essential is well-managed amenities that don’t push condo fees into the stratosphere. Think practical: in-unit laundry, decent storage, efficient elevators, parking that isn’t a daily headache, and bike storage.

5. Strong Management & Financials
A good condo board and a healthy reserve fund matter. We review these documents for every buyer, and for good reason: buildings with strong governance are able to keep up with maintenance and avoid unexpected special assessments that scare off future buyers.

6. Supply and Demand Within the Building
In larger buildings, it’s easy to overlook the internal supply curve. If 8 identical units are always listed at the same time, that’s a red flag. Boutique buildings or units with a truly unique layout, view, or outdoor space tend to perform better over time.

The Bottom Line?
Buy the right condo, and it will hold its value — even when the market shifts. At mattrichling.com, we specialize in helping buyers and investors find the best-performing buildings and avoid costly surprises. Curious about which buildings in Ottawa are holding strong in 2025? Reach out to us — and let’s talk strategy.

Ottawa Condo Market Statistics - April 2025

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 April 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.

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April 2025 showed signs of renewed energy in Ottawa’s real estate market, with key indicators suggesting a market that’s slowly moving toward balance. While year-over-year sales were down, month-over-month activity picked up sharply—fuelled by increased inventory, cautious buyer confidence, and more strategic pricing by sellers. Here’s a breakdown of what happened in Ottawa’s housing market last month and what it means for buyers and sellers moving forward.

Home Sales Rebound from March Lows

According to the Ottawa Real Estate Board (OREB), 1,306 homes were sold via the MLS® System in April 2025. That’s an 18.4% increase compared to March 2025, although still 11.2% below April 2024 levels. While total sales were 17.6% below the five-year average and 16.2% below the 10-year average, the sharp month-over-month increase signals that spring activity is heating up.

OREB President Paul Czan described the shift as a sign of “growing momentum,” noting that inventory levels are rising and helping the market move gradually toward balance. With more certainty following the federal election, buyers are re-entering the market, though with caution—they’re taking their time, including conditions in their offers, and being more selective.

Prices Holding Steady – With Small Gains in Some Segments

Home prices in Ottawa remained mostly stable in April. The overall MLS® Home Price Index (HPI) benchmark rose 1.1% year-over-year to $631,200.

• Single-family homes had a benchmark price of $703,200, up 1.0% from April 2024.

• Townhomes saw a stronger increase, with a benchmark price of $440,000—up 4.4%.

• Condo apartments declined slightly year-over-year, with a benchmark price of $404,000, down 2.8%.

• The average sale price across all home types in April was $707,180, a 0.4% increase from the same month last year.

These modest gains reflect a more level playing field where strategic listings—homes that are well-priced and well-presented—continue to perform best.

Inventory Levels Rise Sharply

Inventory levels are a major factor to watch in 2025. April ended with 4,878 active residential listings, up a striking 54.2% from April 2024. This is 86.9% above the five-year average and 51.3% higher than the 10-year average for the month of April.

With more homes on the market, buyers now have more choice—and that’s shifting some negotiating power back into their hands. As a result, sellers are adjusting their expectations. Days on market are stretching, and pricing strategies have become even more important. Homes that are overvalued or poorly marketed are sitting, while well-priced listings continue to attract interest—and in some cases, multiple offers.

The number of new listings was also high, with 2,589 residential properties added to the market in April. That’s 2.8% above the five-year average and 5.6% above the 10-year average.

Months of Inventory Shows Market Balance Shifting

At the end of April 2025, months of inventory stood at 3.7—up from just 2.2 in April 2024. This metric represents the number of months it would take to sell all current listings at the current rate of sales. A higher number suggests a move toward a more balanced market, especially compared to the frenzied seller’s market we’ve seen in recent years.

What This Means for Buyers and Sellers

For Buyers:
With more listings available, this spring presents a good opportunity to shop with less pressure. You still need to be financially ready and move quickly when the right property comes along, but you're more likely to encounter sellers who are open to negotiations or willing to accept conditional offers.

For Sellers:
This isn’t the market to guess at price or skip the prep work. Homes that are clean, well-maintained, and priced properly are still selling—and sometimes with competing offers. But overpricing or poor presentation could mean sitting on the market longer than expected. Strategic marketing, high-quality visuals, and a strong pricing strategy are essential in this climate.

Looking Ahead: What to Watch in Ottawa Real Estate

As we move through spring and into summer, we’ll be closely watching how federal housing policies roll out and whether they have a measurable effect on supply, affordability, or buyer incentives. Interest rate decisions in the coming months will also play a major role in shaping buyer behaviour and long-term affordability.

Whether you’re buying, selling, or just trying to make sense of where things are heading, staying informed is the first step. At New Purveyors, we help clients navigate this changing market with smart, honest advice tailored to their goals.

Thinking of making a move? Reach out today to start the conversation.

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.

Want to chat about your options? Fill out the form at the bottom of the page, or text/call us directly at 613-900-5700 or fill out the form at the bottom of the page.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.

The Best Condo Floor Plans for Resale Value: What Ottawa Buyers Actually Want

When buying a condo in Ottawa—especially downtown—it’s easy to get caught up in surface details: shiny appliances, Instagrammable finishes, rooftop patios. But if there’s one thing that quietly separates a good investment from a frustrating resale later on, it’s the floor plan.

As a team that has helped thousands of clients buy and sell condos across the city, we’ve seen time and time again how certain layouts generate more demand, attract better offers, and sell faster. And others? They sit.

If you’re thinking long-term, here’s what you need to know about which condo floor plans perform best on the Ottawa market—and which ones to avoid.

Why Floor Plan Matters More Than You Think

Photos can sell a vibe. Staging can highlight potential. But once a buyer steps inside, it’s the layout that defines how the home feels—and whether it actually works for their lifestyle.

The right floor plan:

• Feels bigger than it is.

• Offers functional living and storage.

• Allows for privacy in bedrooms.

• Makes furniture placement simple.

Ottawa buyers are smart. If a layout feels awkward or cramped, they’ll notice—no matter how sleek the kitchen is.

Floor Plans That Perform Best in Ottawa

1. 1-Bedroom + Den (with Separation)

These layouts are gold for first-time buyers, remote workers, and investors alike. The key? The den must be usable as an office, nursery, or guest nook—not just a glorified hallway.

Look for:

• A den with a door or clear separation.

• Layouts over 650 sq. ft. to avoid a cramped feel.

• Open-concept living space that still defines dining and lounge zones.

2. Split 2-Bedroom Plans

A split layout—where the bedrooms are on opposite sides of the living space—is highly appealing for roommates, couples with guests, or anyone who wants privacy.

Buyers like:

• En-suite options for both bedrooms.

• Equal-sized rooms (important for investors or co-owners).

• Good window exposure in each room.

These units often resell better than a 2-bedroom with side-by-side bedrooms that share a wall.

3. Open Kitchen-Living Plans with an Island

Kitchens with an island or peninsula that opens into the living space are always a hit. Buyers want to cook, entertain, and socialize without feeling boxed in.

Best-in-class layouts feature:

• Room for bar stools.

• Space to place a proper dining table (even a small one).

• Easy furniture flow—avoid bottlenecks between the kitchen and balcony access.

4. Efficient 1-Bedroom Under 600 Sq. Ft.

Yes, smaller units can perform well—if the space is smart. Investors love these for rental potential, and minimalist buyers love them for affordability.

What works:

• No long hallways eating up space.

• Wall space for a desk or TV.

• A real bedroom—not a partitioned living area.

Buildings like The Bowery, SoBa, or Gotham often get these right.

Layouts That Struggle on the Market

Not all square footage is created equal. These layouts tend to get less interest or take longer to sell:

1. Long, Narrow “Bowling Alley” Units

These units often waste space in hallways and can feel dark. They’re difficult to furnish, and furniture placement often makes the unit feel smaller.

2. Internal Bedrooms with No Windows

Some condo designs sneak bedrooms into the interior of the unit, using sliding glass or half walls to create “bedrooms” without proper light or airflow.

Most buyers see these as dens—not bedrooms.

3. Studios Priced Too Close to 1-Bedrooms

Studios can make great investments or pied-à-terre units, but if priced within $20K–$30K of a true 1-bedroom, buyers will usually opt for the latter.

4. Jack-and-Jill Bathrooms

Two-way-access bathrooms often seem functional, but they add complexity and take away from closet or wall space. Many buyers are confused by them—and that hesitation can impact resale.

Tips for Buyers Who Want Strong Resale

If you're shopping for a condo in 2025 with plans to eventually sell, here’s what to keep in mind:

• Prioritize light and layout over flashy finishes. You can change countertops. You can’t change where the bedroom is.

• Furniture fit matters. Can a queen bed fit in the bedroom with nightstands? Can you host dinner for four?

• Pay attention to door swings. Sounds small, but poorly placed doors can drastically reduce usable space.

• South and east-facing units tend to photograph better (and feel warmer in the winter).

• Balcony access through the living room, not the bedroom, is almost always preferred.

What I Look for When Helping Condo Buyers

When I walk through a unit with a buyer, I’m asking:

• Is the layout livable?

• Can this compete on the resale market in 5–10 years?

• Is this a rental-grade layout, or one that will appeal to owner-occupants?

My job isn’t just to help you find a condo that looks good today—it’s to make sure you’re protected tomorrow. That means knowing which floor plans Ottawa buyers love, which buildings tend to outperform, and which layouts to avoid (even if they look good on paper).

Final Thoughts

You can’t renovate your way out of a bad layout. But when you start with a strong floor plan, you’re already ahead of the game.

Whether you’re looking to buy your first condo, upgrade to something bigger, or invest in Ottawa’s downtown core, I’m here to help you make a decision that holds its value.

Let’s talk floor plans.
Reach out anytime—we’re happy to share what I’ve seen perform best (and what hasn’t) based on hundreds of downtown deals.

What are buyers buying in Ottawa?

Four months into 2025, Ottawa’s market is holding strong with 3,160 total sales:

• 1,012 condos

• 2,148 residential properties

Here’s what’s moving—and how fast:

Residential Sales (2,148 total)

• Townhomes: 731 sales | Avg. $627,908
  28 days to sell | 99.28% of asking

• Detached Homes: 1,149 sales | Avg. $893,525
  29 days to sell | 98.81% of asking

• Semi-Detached: 185 sales | Avg. $779,736
  30 days to sell | 99.35% of asking

Condo Sales (1,012 total)

• Apartments: 646 sales | Avg. $432,497
  45 days to sell | 97.66% of asking

• Town/Row/Stacked: 356 sales | Avg. $440,470
  34 days to sell | 98.74% of asking

Occupancy Trends

• Residential:

  • Owner-occupied: 1,265 sales (59% of resales)
    99.31% of asking | 22 days

  • Tenant-occupied: 122 sales (6%)
    98.42% of asking | 37 days

  • Vacant: 735 sales (34%)
    98.39% of asking | 40 days

• Condos:

  • Owner-occupied: 422 sales (42% of condo sales)
    98.71% of asking | 34 days

  • Tenant-occupied: 94 sales (9%)
    96.99% of asking | 43 days

  • Vacant: 493 sales (49%)
    97.68% of asking | 46 days

The Takeaway:
Nearly 1 in 2 condos sold and 1 in 3 residential properties sold were vacant, showing strong investor turnover or new-build sales. Residential properties leaned more toward owner-occupancy, which sold faster and for closer to asking. Detached homes continue to dominate the market in both volume and price.

Curious where your property fits into the mix? Reach out anytime.

Mitch MacKenzie

mitch@mattrichling.com

613 282 9441

What Makes a Condo Building Hold Value in Ottawa? 5 Things to Look for in 2025

In a market where not every condo sees the same long-term growth, knowing how to choose a building that holds its value is one of the smartest decisions you can make — whether you're buying your first place or your fifth.

At mattrichling.com, we’ve tracked resale data across hundreds of Ottawa buildings. The truth? Some condos appreciate consistently year after year, while others plateau — or worse — dip after only a few ownership cycles.

If you’re planning to buy in 2025, here are five key indicators we look at when determining whether a condo building is built to hold its value in Ottawa’s evolving market.

1. A Location That’s Still Improving — Not Just Already Good

Everyone knows about the obvious winners: the Glebe, Westboro, the ByWard Market. But the buildings that gain value over time tend to be in areas that are actively improving — think LRT expansions, new commercial developments, and cultural growth.

In 2025, we’re watching neighbourhoods like:

• Bayview / Lebreton Flats (transit hub, Zibi expansion)

• Vanier North (redevelopment, proximity to downtown)

• Little Italy / Preston Street (high walkability, new mixed-use buildings)

These areas offer a mix of livability now and upside later — the ideal formula for value retention.

2. Reasonable Condo Fees Backed by a Healthy Reserve Fund

Low fees are great — until they’re unsustainable. And high fees aren’t always bad — if they come with real value. What we look for is balance.

Signs of a well-managed building:

• Steady, moderate fee increases over time (not sharp jumps)

• A transparent, fully funded reserve study

• No history of special assessments (or signs that another is looming)

If you’re buying resale, we’ll review the status certificate and guide you through the financials. If you're buying pre-construction, we’ll flag which developers have solid track records — and which cut corners.

3. Layouts That Age Well

Square footage matters, but so does how it’s laid out. Long, narrow units? Tough resale. Bedrooms with no windows? Red flag. Tiny kitchens with no storage? Future buyer objections waiting to happen.

The best long-term performers offer:

• At least one clear “primary” bedroom with natural light

• Proportional living/dining space (not an afterthought)

• Storage — inside the unit or accessible via locker

• Outdoor space, even if it’s small

Buyers in Ottawa are getting smarter. They’re thinking about quality of life. And so are investors who want long-term tenants.

4. Strong Comparables Within the Building

One of the clearest signs of a condo building that holds value? A strong track record of sales.

When we pull data, we look at:

• Number of sales per year (a good sign if units are trading hands consistently)

• Sale-to-list price ratios

• Days on market (DOM) compared to the city average

Some buildings — like The Galleria, The Mondrian, or The Hudson — have long-standing reputations for strong resale performance. Others may look sleek but don’t hold up when you look at the numbers.

5. A Building That’s Lived-In — Not Just Looked-At

If you’re buying into a building that feels like a ghost town, ask why. In 2025, the Ottawa condo market still has investor-heavy buildings with high vacancy or short-term rental issues — and that can hurt resale value down the road.

We favour buildings that:

• Are at least 70–80% owner-occupied

• Have an active property management presence

• Prioritize livability (good elevators, gym, package handling, cleanliness)

This is the stuff you don’t find on a feature sheet — but it matters when you're reselling or renting out your unit.

The Bottom Line: Smart Condo Buyers Ask Different Questions

In a competitive condo market, the smartest buyers aren’t just asking what looks good — they’re asking what performs over time. We’ll show you how to recognize the signs of a strong building, decode the data, and find a unit that works for you today and holds value tomorrow.

Looking to make a condo move in 2025?
Let’s sit down and talk about your goals. Whether you're buying to live or to hold, we’ll help you make a decision rooted in market truth — not sales pitch.

Should You Buy a New Build Condo or a Resale? The 2025 Ottawa Edition

Ottawa’s condo market in 2025 is full of choices — and one of the biggest decisions buyers face is whether to purchase a brand new, pre-construction unit or buy resale.

On paper, it might seem simple. New builds are modern and shiny; resale units offer immediate occupancy. But there’s a lot more going on beneath the surface — especially in this market.

If you're deciding between the two, here’s what you need to know about how new builds and resale condos actually compare in Ottawa right now — from price and layout to timelines, risks, and long-term value.

1. Pricing Isn’t Always What It Looks Like

At first glance, new build prices can look tempting. Developers often advertise “starting from” prices, but by the time you add upgrades, parking, and premiums for a better floor or view, that number climbs fast.

In contrast, resale condos show you the full picture up front — and in today’s market, many sellers are flexible on price. We've seen resale units with better square footage and views selling for less than pre-construction prices in similar neighbourhoods.

Bottom line: New builds might feel affordable at first, but they’re rarely cheaper overall — especially once you factor in time.

2. Timing: Can You Afford to Wait?

Buying pre-construction means waiting 2–4 years — sometimes longer. Even once the building is finished, there’s typically a months-long interim occupancy period, where you pay occupancy fees without owning the unit yet.

If you need to move soon or plan to rent out your unit quickly, resale offers immediate possession and often a faster path to ROI.

That said, if you’re in no rush and want a brand-new unit with a long planning horizon, new builds can still be a smart play — especially if you’re banking on future appreciation.

3. Layouts, Sizes, and Liveability

Older doesn’t mean outdated. Many resale condos — especially those built between 2005–2015 — offer better layouts, more square footage, and more thoughtful use of space than some of today’s cookie-cutter towers.

Pre-construction units often prioritize efficiency over character, with smaller bedrooms and kitchens designed for short-term tenants or minimalists. If you plan to live in your unit full-time, resale might offer more space where it counts.

4. Location Matters — and So Does What’s Already Built

New builds are often located in up-and-coming areas — which can be a smart long-term move, but it also means waiting for neighbourhood amenities to catch up. Resale units tend to be in more established areas, where you already know what you're getting: transit access, walkability, and community feel.

We always help clients weigh the difference between what a neighbourhood promises and what it actually delivers right now.

5. Fees, Management, and the First Few Years

Here’s a little-known fact: new build condo fees are estimates. Developers don’t always budget for full operating costs, and when the condo board takes over, those numbers often go up — sometimes significantly — within the first few years.

In contrast, a resale building has a history. You can see how the reserve fund is managed, whether fees have gone up, and whether the building has a track record of solid maintenance or constant special assessments.

So… Which Should You Buy in 2025?

There’s no one-size-fits-all answer. But here’s what we recommend:

✅ Choose pre-construction if:

• You don’t need to move soon

• You want the newest finishes and appliances

• You’re okay with long-term uncertainty for future upside

✅ Choose resale if:

• You want space, flexibility, and a faster move-in

• You want predictable fees and a clearer investment outlook

• You’re looking in established neighbourhoods or buildings with strong resale value

At mattrichling.com, we help clients navigate both options — and make informed decisions based on real-time data and real-world performance. Whether you’re exploring your first condo or your fifth, we’ll walk you through every step and every hidden cost, so you know exactly what you’re buying into.

Thinking of buying a condo in Ottawa this year?
Let’s talk about what’s on the market now — and what’s launching soon. The best option might not be what you expected.

The Most Underrated Ottawa Condo Buildings in 2025

Not all Ottawa condos are created equal — and not all great buildings get the attention they deserve.

While buyers flock to the same well-known addresses year after year, some of Ottawa’s most thoughtfully designed, best-managed, or highest-performing condo buildings continue to fly under the radar. Whether you’re an investor looking for steady value or a buyer who wants more for their money, these underrated buildings deserve a second look in 2025.

Here’s a closer look at five condo buildings in Ottawa that may not be on everyone’s radar — but probably should be.

1. Mondrian (324 Laurier Ave W)
Why it’s underrated:
While everyone talks about the high-end buildings on Queen or in the Glebe, the Mondrian offers solid layouts, a rooftop pool, underground parking, and some of the lowest price-per-square-foot downtown. The location is central, steps to Bank Street and LRT stations, and ideal for young professionals. Bonus: lots of natural light and surprisingly large balconies.

2. The Galleria Phase 1 (200 Besserer St)
Why it’s underrated:
Often overshadowed by its newer sister building or larger high-rises nearby, Galleria I delivers value. Low condo fees for the area, good layouts, and a quiet yet walkable Sandy Hill location make this a smart pick for first-time buyers and investors alike.

3. The Pinnacle (445 Laurier Ave W)
Why it’s underrated:
A great building for investors — especially those targeting long-term tenants. The units are clean and functional, management is solid, and the location appeals to government employees. The building doesn’t look flashy from the outside, but the rental numbers speak for themselves.

4. The East Market Phase 2 (180 York St)
Why it’s underrated:
Everyone knows about The East Market — but Phase 2 often gets skipped over in favour of the top floors of Phase 1 or the newer buildings in the Market. Phase 2 offers loft-style units with concrete ceilings, floor-to-ceiling windows, and strong long-term appreciation. Plus: better elevator reliability than some newer builds.

5. The Gardens (85 Bronson Ave)
Why it’s underrated:
If you're after peace, green space, and high-quality construction — this is the one. Tucked between Centretown and Lebreton Flats, The Gardens is a luxury building that doesn’t always market itself that way. Units here don’t hit the market often, but when they do, they offer an incredible price per square foot compared to newer builds with half the quality.

Why This Matters in 2025

In a market where every buyer is cost-conscious and every investor is looking for the edge, understanding which buildings offer real value — and which ones just have buzz — is a critical advantage. These hidden-gem condos often offer lower carrying costs, better management, and more long-term upside than the trendy tower next door.

If you’re looking for a condo that combines smart design, long-term value, and a great location — without the hype — reach out. We’ll help you find the building that suits your goals, not just the one everyone’s talking about.

Selling Your Ottawa Condo in 2025? Here’s What You Need to Know

As the Ottawa condo market continues to stabilize in 2025, many owners are wondering if now is the right time to sell — and how to make their unit stand out in a sea of listings.

The truth is: buyers are still active, but they’re careful. Inventory has increased across the downtown core and beyond, and buyers are taking their time, comparing square footage, fees, layouts, and amenities before making a move. If you’re thinking about selling your condo this year, preparation and positioning are everything.

Here’s what you need to know before listing your condo in 2025.

The Market Is Smarter — and Slower — Than Before

Ottawa condo buyers are more informed than ever. With higher carrying costs due to interest rates and rising condo fees, they’re digging into the numbers. That means your price, monthly fees, reserve fund health, and recent sales in your building will all be under a microscope.

Setting the right asking price is critical. The wrong number, even by a small margin, can result in low interest and a slower sale. We analyze real-time data from your building and neighbourhood to ensure you’re priced to attract serious buyers while still maximizing your return.

Presentation Is No Longer Optional

In a competitive condo market, small details matter. Units that are clean, bright, and thoughtfully presented tend to move faster, especially if they photograph well. That might mean fresh paint, minor repairs, and decluttering before we bring in a professional photographer and videographer.

We tailor our prep strategy to the condo lifestyle, where space is limited and design choices speak volumes. Our marketing team ensures your listing doesn’t just look good — it performs well on every platform that matters.

The First Week on Market Sets the Tone

In 2025, most condo sales happen within the first 10 to 14 days, or not at all. If buyers don’t engage early, the listing risks going stale.

We focus heavily on pre-market exposure, agent previews, and buyer alerts to build momentum before your listing even hits Realtor.ca. This ensures your unit is seen by the right people at the right time, with a strong call to action.

Amenities, Layout, and Fees: Make the Most of What You’ve Got

Buyers in 2025 want value. That doesn’t always mean the lowest price — it means they want to understand why your unit is worth it. Do you have an ideal layout? South-facing views? A rare parking space? Lower-than-average fees for your location?

We know what buyers are asking about because we’re working with them every day. And we position your unit to check the boxes they care about most.

Selling a Condo in Ottawa in 2025? Let’s Talk.

Selling a condo in today’s market takes more than a listing. It takes a data-driven strategy, compelling marketing, and an agent who understands the nuances of the downtown Ottawa condo scene.

We’ve helped hundreds of condo owners successfully sell their homes — and we’re here to help you do the same. If you’re considering a sale this year, reach out today for a no-obligation valuation and a tailored plan to get your unit sold.

What $500,000 Gets You in Ottawa’s Condo Market in 2025

If you're looking to buy a condo in Ottawa this year with a budget of around $500,000, you're not alone. As interest rates fluctuate and inventory levels shift, more buyers are gravitating toward condominiums as a smart way to get into the market without sacrificing lifestyle or location. But what does half a million dollars really get you in today’s market?

Let’s break it down — from downtown towers to neighbourhood gems — so you know exactly what to expect in 2025.

Downtown Core: Location, Location…Size?

Downtown condos remain among the most in-demand, and for $500,000, you’ll typically be looking at a 1-bedroom unit, possibly with a den, in one of Ottawa’s premier buildings. Think Claridge Moon near the new LRT station, or The Gotham in Centretown.

What you’re paying for here is:

• Walkability to restaurants, shops, and nightlife

• Access to transit (hello, LRT!)

• Modern finishes, floor-to-ceiling windows, and concierge services

What you’re giving up:

• Likely no second bedroom

• Parking may not be included

• Smaller square footage (under 750 sq ft)

Still, if lifestyle and location are your top priorities, it’s a strong value play.

Westboro & Hintonburg: Style Meets Substance

Neighbourhoods like Westboro and Hintonburg have become major draws for young professionals and remote workers alike. In these areas, $500,000 often gets you a boutique condo, sometimes with 2 bedrooms or a large 1-bedroom + den.

Expect:

• A mix of newer builds and tasteful conversions

• Proximity to transit, bike paths, and microbreweries

• A community vibe that feels more laid-back than downtown

Keep in mind:

• Parking still may not be included

• Maintenance fees can be higher in smaller buildings

Notable buildings include The Eddy and Q West — both known for modern design and eco-friendly touches.

South & East Ottawa: Bigger Spaces, Fewer Frills

Looking to maximize space and still stay under $500K? Buildings in areas like Alta Vista, Riverside South, or Orleans often offer:

• 2 bedrooms, 2 bathrooms

• Parking included

• Larger square footage (over 1,000 sq ft in many cases)

These may not have rooftop patios or concierge desks, but you’ll get:

• Quiet, established communities

• Lower cost per square foot

• A more suburban pace of life

Perfect for downsizers, first-time buyers who want more space, or anyone looking for long-term value.

Pre-Construction Options: Thinking Ahead

Pre-construction condos are still an option in 2025, though delivery timelines can be long and prices are often creeping above the $500K mark for anything substantial. With $500K, you can still secure a well-laid-out 1-bedroom or small 2-bedroom unit, especially if you're early in a project.

Pros:

• Brand-new everything

• Tarion warranty coverage

• Potential for equity growth before you even move in

Cons:

• Occupancy can take 2–4 years

• Delays are common

• Limited ability to customize at lower price points

If you’re considering pre-construction, it’s best to work with an agent familiar with the Ottawa condo landscape — especially someone who can spot the buildings worth your wait.

What to Prioritize in 2025’s Market

In a market like Ottawa’s, where conditions can shift quickly, here are three things to keep in mind:

1. Don’t just shop price — shop value. Look at square footage, location, and amenities holistically.

2. Parking matters. Even if you don’t drive now, resale value goes up significantly when a unit includes parking.

3. Fees aren’t the enemy. Maintenance fees that cover heat, water, and even electricity can be more stable than fluctuating utility bills in a freehold.

Final Thoughts

In 2025, $500,000 is still a solid entry point into Ottawa’s condo market — especially if you’re strategic. Whether you want to be in the heart of downtown or tucked into a quieter neighbourhood with a bit more space, there are still smart buys to be had.

And if you're wondering where your budget can go the furthest, or which buildings have the best resale potential, that’s where we come in. Let’s find you the condo that fits your life now — and grows with you later.

Ottawa Real Estate – Easter, Tariff Talks & Election Distraction Breakdown

Heads up: Good Friday was March 29th and Easter Monday was April 1st last year — three weeks earlier. So year-over-year comparisons are a little skewed. It's not quite apples to apples... more like apples to Easter Eggs.

March 31–April 6 (No Holidays This Year, Easter Last Year)

• Total Sales: 247 (up +7.4% from 230 last year)

• Residential:

  • 175 sales

  • 99.10% LP vs SP

  • 26 days to sell

• Condos:

  • 72 sales

  • 98.13% LP vs SP

  • 35 days to sell

Normal spring activity, solid pricing. Slightly slower condo movement. No Easter slowdown like last year.

April 7–13 (Pre-Good Friday Week)

• Total Sales: 249 (down -16.2% from 297 last year)

• Residential:

  • 173 sales

  • 99.06% LP vs SP

  • 23 days to sell

• Condos:

  • 76 sales

  • 98.16% LP vs SP

  • 32 days to sell

Sales volume cooled off hard year-over-year, but prices held steady. Buyers weren’t rushing, but they were still paying.

April 14–20 (Good Friday + Easter Weekend This Year)

• Total Sales: 216 (down -27.8% from 299 last year)

• Residential:

  • 150 sales

  • 99.22% LP vs SP (highest of all weeks)

  • 20 days to sell (fastest of all weeks)

• Condos:

  • 66 sales

  • 97.82% LP vs SP

  • 30 days to sell

Holiday weekend cratered volume, but serious buyers moved fast and paid full price.

April 21–27 (Post-Easter Recovery)

• Total Sales: 227 (down -15.9% from 270 last year)

• Residential:

  • 159 sales

  • 98.99% LP vs SP

  • 25 days to sell

• Condos:

  • 68 sales

  • 98.28% LP vs SP

  • 32 days to sell

Sales tried to bounce back post-Easter, but still lagged behind last year. Pricing dipped slightly but stayed strong.

Big Picture:

• Sales Volume: Every week (except the first) saw a double-digit drop in sales compared to 2024.

• Pricing: Still fierce — homes selling within 1–2% of asking price.

• Speed: Faster sales around Good Friday; a little slower as Easter passed.

• Market Sentiment: Tariffs and election noise cooled the fence-sitters, but real buyers stayed sharp.

Final Verdict:
Ottawa’s market didn't crack under the pressure — fewer deals, but sellers still flexed on price.

For a personalized market assessment and tailored advice, reach out to a local real estate expert, like Mitch MacKenzie, to get insights specific to your real estate needs.

Mitch MacKenzie

mitch@mattrichling.com

Interested in learning more? Reach out via phone or email!