Ottawa’s housing market closed out 2025 with a typical December slowdown, reflecting both seasonal patterns and continued buyer caution. While activity softened toward the end of the year, overall market fundamentals remained steady, reinforcing Ottawa’s reputation as one of Canada’s more resilient real estate markets.
Despite quieter months in November and December, total residential sales for 2025 finished 1.3% higher than 2024, with total dollar volume up 4.1% year over year. These figures point to a year defined by balance, stability, and a gradual return to more normalized market conditions.
A Year of Unusual Seasonality in Ottawa Real Estate
The Ottawa housing market followed an unconventional seasonal pattern in 2025. A delayed spring market transitioned into a steady summer that avoided the usual mid-year slowdown, before activity moderated again through the fall and early winter.
Compared with price corrections seen in some larger Canadian markets, Ottawa continues to demonstrate resilience. December data shows a market that is holding steady, offering buyers more choice while maintaining relatively stable pricing. That said, market performance continues to vary significantly by property type, with condos remaining the softest segment.
Residential Market Activity in December
In December, 587 residential properties sold in Ottawa, down 32% from November but in line with historical December averages when excluding the unusually active pandemic years of 2020 and 2021. Since 2018, average December sales have been approximately 583 units, reinforcing that the slowdown reflects normal seasonal behaviour alongside ongoing buyer caution.
On the supply side, new listings declined as expected during the holiday season. Active listings fell from 3,628 in November to 2,544 in December. Even with this seasonal drop, inventory levels remain elevated compared with recent December norms, continuing the trend of increased choice for buyers seen throughout the fall.
Since 2022, Ottawa has experienced a multi-year trend toward higher year-end inventory across all property types. In December 2025, active listings were 19% higher than last year, 45% higher than 2023, and 89% higher than 2022. Months of inventory rose to 4.3, moving closer to long-term, pre-pandemic averages.
Ottawa Home Prices and Market Balance
Home prices in Ottawa remained relatively stable in December. The average residential sale price was $658,943, essentially unchanged from December 2024. This follows a modest year-over-year increase in November and reflects a market where prices are supported but not accelerating.
The MLS® Home Price Index provides additional insight. The composite benchmark price has declined month over month since the summer but still finished 2025 slightly above 2024 levels overall. This suggests gradual price adjustment rather than sharp corrections, even as average prices continue to be influenced by the mix of homes sold.
Overall, Ottawa’s real estate market remains balanced. Buyers now have more leverage than in recent years, while sellers continue to benefit from steady demand and resilient pricing.
Ottawa Real Estate by Property Type
Market conditions continue to vary meaningfully by property type, highlighting the importance of segment-specific analysis.
Single-Family Homes
Detached homes remained the strongest segment in December. Prices held steady, supported by balanced supply levels at 4.3 months of inventory. The single-family benchmark price increased 0.4% year over year, underscoring the ongoing stability of this segment. Limited availability and consistent demand continue to anchor Ottawa’s market.
Townhomes
Townhomes are continuing to adjust as inventory remains slightly elevated. Sales activity has been more resilient than in the condo segment, though pricing pressure is becoming more visible. The townhouse benchmark price declined 3.7% year over year, while the average sale price fell just 1.4%. Continued interest from first-time buyers has helped support overall pricing.
Apartments and Condos
The condo apartment segment remains the softest part of the Ottawa housing market. December sales activity was subdued, and months of inventory climbed to nearly eight, well above balanced levels. Benchmark prices declined year over year, reflecting growing supply relative to demand. While Ottawa has not experienced the level of condo oversupply seen in larger urban markets, this segment remains one to watch closely.
Months of inventory by property type:
Single-family homes: 4.3
Townhomes: 2.8
Apartments: 7.9
Ottawa Housing Market Outlook for 2026
As Ottawa enters 2026, December’s data suggests that any improvement in market activity is likely to be gradual rather than immediate. Interest rate relief has helped support buyer confidence, but purchasers continue to move carefully, paying close attention to broader economic conditions.
While close monitoring of the oversupplied condo segment remains important, the broader message for buyers, sellers, and REALTORS® is clear. Ottawa’s real estate market remains stable, increasingly driven by fundamentals rather than urgency, and clearly segmented by property type.
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