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.
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.
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