Presented by Sotheby’s International Realty
As Ottawa transitioned into early winter, the real estate market embraced a more measured pace. November brought softer sales activity and a more noticeable seasonal slowdown, balanced by encouraging signs such as recent interest rate cuts that may support renewed buyer confidence as we approach 2026.
While active listings declined month to month, months of inventory (MOI) increased, reflecting a stable yet supply-leaning market—especially within the townhome and apartment segments. This environment provides both buyers and sellers with meaningful opportunities to make informed, strategic decisions.
November Highlights
Sales & Pricing
880 homes sold (down from 1,177 in October; 18.2% below November 2024)
YTD sales up 1.5% compared to 2024
Average sale price: $680,496 (+2% YoY)
YTD average price: $699,635 (+3% YoY)
Single-family homes: average price $825,827, up 4.8% YoY and 4% YTD
Supply Trends
Ottawa recorded 3,721 active listings, with MOI rising to 4.2, indicating more selection and more measured pace across market segments.
Townhomes
Average price: $542,607
Down from both October and last year
Apartments / Condominiums
Experiencing the strongest supply pressure
MOI above 7
Sales down over one-third YoY
Prices stable YoY, though elevated inventory suggests a softer underlying environment
New Construction Influence
Close to 70% of 2025 housing starts are concentrated in rental and condo projects, adding to a meaningful pipeline of future multi-unit inventory. Ottawa remains more stable than Toronto’s current condo buildup, but rising supply warrants continued attention through the winter.
Year-to-Date Market Performance
13,075 homes sold in 2025 (+1.5% YoY)
$599M in November sales volume (–16.5% YoY)
Over $9B in 2025 YTD sales volume (+4.6% YoY)
1,458 new listings (–39% from October; +10% YoY)
Active listings: 3,721 (–12% from October; +31.3% YoY)
Seasonal price softening occurred, with a slightly larger-than-usual 4% decline from October
Months of Inventory by Property Type
Single-Family: 4.0
Townhome: 3.1
Apartment: 7.3
The overall market remains balanced, with distinct variations across property types that offer tailored opportunities for different buyer and seller profiles.
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