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.
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.
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