Ottawa Real Estate Market Update – April 8, 2025

Sales: 842 homes sold (down 8.6% year-over-year)
• Freehold: 567 (down 9.1%)
• Condos: 275 (down 7.4%)

Prices:
• Average Freehold: $796,256 (up 0.7%)
• Average Condo: $431,066 (down 2.6%)
• Overall Average: $676,984 (down 0.2%)

Days on Market:
• Freehold: 24 days (vs. 22 last year)
• Condo: 23 days (vs. 29)

Inventory: 2,208 homes currently for sale
Market Type: Seller’s Market (2.4 months of supply)

The market right now is quite interesting — we’re seeing a split.

Some homes are sitting, especially at higher price points and in outer suburbs like Barrhaven. Many of these listings have gone through multiple price reductions.

At the same time, homes in hot pockets like the Glebe, Hintonburg, Nepean, and even parts of Orleans are attracting multiple offers and moving quickly.

The common thread? Homes that are both priced correctly and presented properly are selling fast — often in under a week.

Over the past two weeks, I’ve personally been involved in four multiple-offer situations, and I’ve heard similar stories from many colleagues. On the flip side, I’ve also been able to negotiate great price points for buyers on listings that have been sitting.

There is significant demand right now in the $700,000-and-under range. Townhomes and single-family homes under $800,000 are particularly hot segments.

Sellers:
Presentation matters. I always emphasize making sure your home shows at its best — that could mean small touch-ups, renovations if needed, and high-quality media and marketing. This is what sells homes in today’s market.

Buyers:
Your top priority should be getting a pre-approval. Think of it like going shopping without knowing your bank balance — you won’t be ready when the right opportunity comes up, and you’ll likely miss out. The buyers who are winning right now are prepared and informed.

If you want to understand what’s going on in our market and how it applies to you, I encourage you to read my past newsletters or reach out. I’m always happy to chat strategy.

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The Tariffs and How They’re Affecting Ottawa’s Real Estate Market

Look, if I had a crystal ball and could predict exactly where the market is headed, I’d probably be a multi-millionaire by now. But here’s what I can speak to: what my team and I are seeing on the ground, every day.

Since the announcement of the new tariffs, we’ve noticed a shift — some buyers and sellers are stepping back, waiting for things to stabilize. On the flip side, others are seeing this as a window of opportunity. With less competition and prices still at a solid level, many believe we’re positioned for future growth.

So, let me ask you — why are you thinking of buying a home?

• Is it because you need more space?

• Is it because your rent is just as much as (or more than) a mortgage would be?

• Are you planning for your family’s future?

If you're buying just for the sake of ownership, run the numbers. Look at a 5–10 year horizon, not just the next 12–36 months. I find too many people are hyper-focused on the short term and lose sight of the bigger picture.

At the end of the day, homeownership is a simple equation:

Need for housing + Financial readiness = Opportunity to enter the market

If you try to time the absolute bottom of the market, you’ll likely miss it. Every person I’ve spoken with who was “waiting for lower prices” is now facing higher ones.

Now — are the tariffs a concern? Sure. They’re adding to the uncertainty. But I try to think long-term. In most cases, if the purchase makes sense today, it’s going to hold up well in the future. That said, it’s different for everyone.

I’ve had buyers come to me with no immediate housing needs, and they’re paying below-market rent. After we run the numbers, sometimes it makes more sense notto buy just yet — and that’s totally okay too.

If you’re unsure what makes sense in your situation, let’s chat. Book a call below. Worst case? You leave with a better understanding of the market and your own goals.

Mortgage talk

Some of the top rates that we are seeing today are:

Fixed

3-Year Fixed: 3.79% (less than 20% down payment)
4-Year Fixed: 4.34% (less than 20% down payment)
5-Year Fixed: 3.89% (less than 20% down payment)
5-Year Fixed: 4.09% (20% down payment or more)

5-Year Fixed: 3.94% (35% down payment or more)

Variable
5-Year Variable: 4.20% (less than 20% down payment)
5-Year Variable: 4.30% (20% down payment or more)
5-Year Variable: 4.20% (35% down payment or more)

From my mortgage broker and his team:

We are into April and the spring market is underway!

Our phones have been ringing off the hook with buyers looking to update their pre-approvals, and check how they qualify for certain properties. For the clients that have secured properties, we are processing lots of purchases for new owner occupied homes and investment properties.

Last week we shared some tips and tricks for first time home buyers. This week we wanted to share a comprehensive breakdown of How Best to Qualify for a Mortgage. In this blog post we outline the different types of mortgages, the required down payment amounts depending on the purchase price and a general overview of the mortgage process.

Preferred Lenders:

Chris Allard

Allard Mortgage
[email protected]

Cell: (613) 324-2389

 Carlos Mora

 TD BANK

[email protected] 

 Cell: 587-434-7696

Ron Gusinjac
Realtor®,
Royal LePage Performance Realty

613-890-0444  |  [email protected]

201-1500 Bank St, Ottawa, ON, K1H 7Z2