The Ottawa real estate market in September reflected typical late-summer trends, with sales activity easing slightly and inventory levels continuing to rise. A total of 1,089 homes sold in September, down from 1,236 in August and 1,318 in July. This three-month dip in sales aligns with the seasonal slowdown that follows the busy spring market.
Despite softer sales, prices remain stable. The average sale price in September was $690,397, positioned between August’s $686,536 and July’s $695,209 — a 0.3% increase year-over-year. Benchmark prices have held steady, showing that buyer demand remains resilient even as inventory grows.
Active listings climbed to 4,388 in September, compared to 3,971 in August and 4,205 in July. These numbers represent a shift away from the undersupplied conditions seen during the pandemic, moving toward a more balanced market. The months of inventory rose to 4.0, up from 3.2 in August, reinforcing that balance between buyers and sellers.
On September 17, the Bank of Canada reduced its key interest rate by 25 basis points to 2.5%, citing slowing global growth and easing inflation pressures. This adjustment, paired with Ottawa’s steady demand and balanced conditions, could encourage more first-time buyers and stimulate activity through the fall months.
Overall, September showed resilience in Ottawa’s housing market — with sales moderating but staying above 2024 levels, prices holding firm, and new rate cuts setting the stage for a potentially stronger market heading into the end of the year.
Residential Market Snapshot
- Total home sales (year-to-date): 11,025 — up 3.9% from this time in 2024
- Average sale price (September): $690,397 — up 0.3% year-over-year
- Year-to-date average price: $699,910 — a 2.7% increase over 2024
- Total value of homes sold: approximately $751 million, up 2.8% year-over-year
- New listings (September): 2,832 — up 19.3% compared to last year
- Active listings: 4,388 — up 19.4% from September 2024 and 21.8% above the five-year average
- Months of inventory: 4.0 — indicating a balanced market
MLS® Home Price Index
The MLS® Home Price Index (HPI) composite benchmark price for Ottawa in September was $627,200, marking a 1.1% year-over-year increase.
By property type:
- Single-family homes: $697,200 — up 1.0%
- Townhouses: $462,800 — up 7.8%
- Apartments: $408,200 — down 1.7%
As Ottawa transitions into fall, the market continues to show steady demand and healthy balance. Rising inventory offers more choice for buyers, while consistent pricing supports seller confidence. With interest rate cuts potentially boosting affordability, the final months of 2025 could bring renewed momentum to the Ottawa real estate scene.
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