Ottawa Housing Market Report
- The average home sale price in Ottawa’s housing market increased by 0.7% year-over-year by 0.6% month-over-month to $690,397 in September 2025.
- The composite benchmark price of a home in Ottawa was $627,200, up 1.1% from September 2024 and down 0.4% from last month.
- Single-family home average price increased by 3.1% year-over-year to $850k.
- Townhouse average price increased by 0.8% year-over-year to $556k.
- Apartment average price decreased by 2.2% year-over-year to $425k.
- October 17, 2025 Update: Today’s Lowest mortgage rate in Ottawa is 3.75% for 5-Year Variable.
Ottawa Housing Market Overview
Ottawa Housing Market: Price Movements for September 2025
Benchmark Home Price | $627,200 | -0.4% 1-Month Change | +1.1% 1-Year Change |
Average Home Price | $690,397 | +0.6% 1-Month Change | +0.7% 1-Year Change |
Median Home Price | $629,000 | -0.2% 1-Month Change | -2.5% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
In September 2025, Ottawa’s housing market experienced month-over-month and year-over-year gains in home prices as well as sales over the same month last year. Meanwhile, new listings entered the market at a much faster pace than sales, shifting conditions from a previously balanced market to one that now favours buyers.
Home Prices
In September 2025, the average home price in Ottawa’s housing market increased by 0.6% from the previous month to $690,397. The price reflects an annual increase of 0.7%. It is also noteworthy that the average home price in Ottawa has increased by about 23% in the past five years.
Meanwhile, the composite benchmark price of $627,200 in September 2025 was 1.1% higher than last year and decreased 0.4% from August. A benchmark price is the price of a typical property in the city; therefore, changes in the benchmark price are often a better indicator of where home prices are headed than the average price. The benchmark price in September 2025 was 10% lower than the all-time high observed in April 2022.
The median price often offers a less skewed view of the market by reducing the influence of outliers. In September 2025, it was $630,000, decreasing 2.5% year-over-year and 0.2% month-over-month.
Sales and Inventory
The 1,089 sales in September 2025 were 4% higher than in September 2024 and decreased by 11.9% month-on-month. On the other hand, there was a 34% increase in new listings from last month, bringing the total to 2,832 new listings in September. The new listings were, however, 19.3% higher than in September 2024.
The sales-to-new listings ratio (SNLR) dropped significantly from 58% in August to 38% in September 2025, pushing Ottawa’s housing market into buyer’s market territory. An SNLR of less than 40% indicates that the market favours buyers. An SNLR of 40%—60% typically indicates that the market is balanced and doesn’t tip in favour of sellers or buyers. When the SNLR exceeds 60%, the market is considered to favour sellers.
The market had 4,388 active listings, a 19.4% increase compared to last September. At the end of September 2025, Ottawa's housing market had 4 months of inventory.
Additional Ratios
The sales-to-list price ratio in September 2025 was 98.1%, indicating that homes sold 1.9% below the listing price on average.
The median days on the market, representing the time listed properties remained available, was 23 days, just a day higher than the 22 days in September 2024.
Property Types’ Analysis
Looking at the different property types in Ottawa,
Single-family homes had an average price of $850,181, increasing by 3.1% annually. The benchmark price of $697,200 in September 2025 was up 1% from last year.
The average price of townhouses sold was $555,679, up 0.8% from last year. The benchmark price of $462,800 is up 7.8% annually.
The average price for apartments in September 2025 was $424,568, down 2.2% annually. The benchmark price was $408,200, down 1.7% from last year.
Reasoning
Mortgage rates play a crucial role in determining borrowing costs, directly influencing home affordability. The recent rate cuts by the Bank of Canada (BoC) have eased some of the financial burden on homebuyers, helping to bolster Ottawa’s housing market in recent months. It is also noteworthy that Ottawa’s stable government-driven job market has historically kept the housing demand steadier compared to cities like Toronto, which have experienced far greater volatility in demand and home prices.
Meanwhile, current mortgage rates remain significantly higher than those seen during the pandemic, making it more challenging for some buyers to qualify under the mortgage stress test. While a return to ultra-low pandemic-era rates is unlikely, there is cautious optimism about the possibility of further rate reductions in the near future.
In September 2025, the BoC cut its rate by 25 basis points. While mortgage rate forecasts suggest there might be one more rate cut this year, the growing economic uncertainty might lead the BoC to reconsider more rate cuts this year.
Comparison
Ottawa’s housing market is much more affordable than Vancouver’s housing market and Toronto’s housing market, which had average home prices of $1,253,274 and $1,059,377 in comparison to Ottawa’s average price of $690,397 in September 2025. Ottawa’s housing market is also significantly cheaper than other markets in Ontario, such as Mississauga’s housing market, and Brampton’s housing market and slightly cheaper than Hamilton’s housing market. Looking at cities outside Ontario and B.C., Ottawa’s housing market is slightly more expensive than the Montreal housing market and the Calgary housing market. As most homes in Ottawa are well below the $1.5 million mark, they are eligible for a minimum down payment of 5% to 10% with CMHC insurance, allowing more buyers to compete for the inventory.
Home Prices in Ottawa
Ottawa Housing Market Statistics for All Property Types in September 2025
Average Sold Price and MLS HPI Benchmark Price
Total Transactions
Property Type Distribution
Market Overview for Single Family Homes in September 2025
Average Sold Price
Transactions
Market Overview for Townhouses in September 2025
Average Sold Price
Transactions
Market Overview for Apartments in September 2025
Average Sold Price
Transactions
Glossary and Definitions
MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view and tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.
MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.
Strata Insurance: Strata insurance is insurance used by a strata like a condominium to cover damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:
- Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
- Liability for any property damage or bodily injury suffered on strata property
- Any fixtures that are part of the "standard unit" or original construction of each unit
Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.
Property types
Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.
Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.
Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.
Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.
Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.
Property Classes
Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.
Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owners of the buildings have leased the land and pay rent to their landlord while owning the building on the land.
Housing Markets Across Canada
Data sourced from the Ottawa Real Estate Board (OREB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.
- The trademarks MLS®, Multiple Listing Service®, and associated logos are owned by CREA and identify services provided by its members.