Ottawa’s market continues to be resilient despite broader concerns about economic uncertainty. In October, Ottawa’s housing market experienced a modest, seasonal increase in sales activity accompanied by a reduction in the elevated inventory levels seen in recent months. This points to a stable yet cautious phase for the region as we move into the typically slower winter season.

Last month, a total of 1,177 homes were sold, up 8.1% from 1,089 in September 2025, but down slightly year over year with a 1.2% decrease compared to October of 2024. The average sale price climbed to $709,002, an increase of 2.7% month over month and 5.7% higher than the same period last year, suggesting that underlying demand remains resilient.

Ottawa saw 2,405 new listings in October, a 15.1% decline from September 2025, but 13.4% higher than October 2024. This seasonal drop-off in new listings between September and October has been a consistent pattern over the past decade. More notably, active listings fell from 4,388 in September to 4,232 in October, a 3.6% decrease. While inventory levels remain higher than in recent years, this familiar fall decrease in active listings suggests that the trend towards elevated supply levels may be starting to stabilize, still within a balanced market range. Reinforcing that trend, the months of inventory measure eased from 4.0 to 3.6, indicating a modest tightening in the balance between buyers and sellers as the fall market settled.

The Bank of Canada’s second consecutive rate cut on Oct. 29, 2025, lowered the policy rate by 25 basis points to 2.25%, providing additional relief to borrowers and some optimism for an active spring market. However, the bank tempered expectations for further easing, noting in its statement that this is likely the final cut in the current cycle. The Ottawa Real Estate Board (OREB) is monitoring the newly released federal budget and workforce announcements, as cuts in either area have historically affected Ottawa’s housing market, given the city’s large federal employment base.

Overall, Ottawa continues to display a pattern of measured balance, modestly improving demand, steady prices, and a market environment that remains fundamentally healthy as it heads toward year-end.

“Ottawa’s market continues to demonstrate balance and resilience,” said the OREB President. “We’re seeing modest growth in sales activity, stable pricing, and a seasonal easing of elevated inventory levels. The recent rate adjustments provide optimism for the coming months, but economic uncertainty looms, and buyers and sellers remain cautious, watching how broader economic factors play out. The current environment points to a steady market rather than a rapid shift in either direction.”

Residential Market Activity

Year to date, 12,197 homes have sold, a 3.3% increase over the first 10 months of 2024. The total dollar volume through October reached $8.55 billion, up 6.5% year over year, while the average year-to-date price stands at $700,869, a 3.0% increase year over year.

Looking at the bigger picture, there have been 12,197 home sales so far this year, a 3.3% increase compared to the same period in 2024.

The average sale price for all sold listings in October was $709,002, up 5.7% from last year and 2.7% higher than September.

Altogether, the total value of homes sold in October was approximately $834.5 million, a 4.5% year-over-year increase, and sits just under $8.5 billion year to date, a significant 6.5% increase over the same period of time in 2024.

On the listing side, there were 2,405 new residential listings added in October, down 15.1% from September but still 13.4% higher than last year.

Active listings totalled 4,232, a 3.6% decrease from September but 21.3% higher year over year.

The months of inventory, a key measure of supply, eased from 4.0 in September to 3.6, reflecting a slightly tighter balance between supply and demand within what remains a generally balanced market.

MLS® Home Price Index (HPI)

The MLS® Home Price Index (HPI) composite benchmark for Ottawa was $622,700 in October, down 0.7% month over month but up 0.7% year over year, continuing the trend of moderate, sustainable price movements rather than volatility.

By property category:

• Single-family: $692,400 up 0.3% compared to 2024

• Townhouse: $456,300 up 6.6% compared to 2024

• Apartment: $402,900 up 0.1% compared to 2024

**In its classification system, the Canadian Real Estate Association (CREA) identifies townhouses under the subtypes “Att Row Townhouse” and “Condo Townhouse."

Courtesy of the Ottawa Real Estate Board

We’re proud to welcome Felix Koolen-Renaud to the TRU Realty team!

Felix grew up in Eastern Ontario and later moved to Ottawa to attend the University of Ottawa, where he graduated with a double major with honours in Indigenous Studies and Criminology. While completing his studies, Felix also built a successful career in Public Safety and Law Enforcement, serving in several municipalities across the region before specializing in protective services with the federal government in the National Capital Region.

His entrepreneurial spirit and desire to make a direct impact on people’s lives eventually led him to real estate, where his background in service, integrity, and attention to detail has proven invaluable. Felix’s deep knowledge of Ottawa and the surrounding communities, coupled with his understanding of the public- and private-sector dynamics that make the region so distinctive, give his clients a clear advantage when navigating today’s real-estate market.

We’re thrilled to have Felix bring his professionalism, experience, and community-minded approach to TRU Realty. Please join us in welcoming him to the team!

TRU Realty – Defining Professionalism in Real Estate.

Welcome Keith Johnston to TRU Realty!

TRU Realty is proud to welcome Keith Johnston to our growing team of professional Realtors serving Ottawa and the surrounding areas!

Born in Halifax, Nova Scotia, Keith grew up in a military family as the son of a retired Admiral who served 38 years in the Canadian Navy. His upbringing instilled in him a strong work ethic, adaptability, and a deep appreciation for community—values that continue to define his approach to real estate today. Having lived across Canada and the U.S., Keith ultimately made Ottawa his home in 2001 and has been deeply rooted here ever since.

Before entering real estate, Keith built an impressive 20-year career in investment banking, developing expertise in finance, lending, and client service. In 2021, his lifelong fascination with homes, renovations, and property investment inspired him to make the leap into real estate—a move that proved to be a perfect fit. His extensive background in investing, lending and renovations allows him to offer clients practical insights and a clear, confident path through every stage of buying or selling.

Keith’s dedication extends far beyond his professional work. He is a passionate community volunteer, contributing his time and energy to organizations such as the Multiple Sclerosis Society, Meals on Wheels, Ronald McDonald House, Kaboom Play Structures, Habitat for Humanity, and the LGBTQ2+ community. Known for his lightning-fast communication, approachable style, and genuine care, Keith ensures every client feels fully supported throughout their real estate journey.

When he’s not working with clients, Keith can often be found camping with his partner, tackling home improvement projects, planning his next travel adventure, or tinkering with classic cars in the garage.

Please join us in welcoming Keith Johnston to the TRU Realty family—another great addition to our team that continues to Define Professionalism in Real Estate.

TRU Realty is pleased to welcome Paul Pepin, an experienced and well-respected real estate professional, to our growing team of agents, defining professionalism in real estate across Ottawa and Eastern Ontario.

With a Bachelor of Commerce and over a decade of experience as a licensed Realtor, Paul brings a deep understanding of the residential, condominium, and multi-residential markets. His 17 years as a licensed mortgage agent further enhance his ability to guide clients through every step of the buying or selling process—from financing to closing—with confidence and clarity.

Paul’s extensive market knowledge spans Ottawa, Kanata, Barrhaven, Stittsville, Nepean, Manotick, and Orléans, where he has built a reputation for integrity, professionalism, and exceptional service. Fluent in both English and French, Paul is proud to serve clients throughout Eastern Ontario, helping them achieve their real estate goals with trusted expertise and a personal touch.

Please join us in welcoming Paul Pepin to the TRU Realty family!

Ottawa’s housing market in September demonstrated a continuation of late-summer seasonal trends, with sales activity easing slightly while inventory levels continued to climb. A total of 1,089 homes sold in September, down from 1,236 in August and 1,318 in July. This three-month trend of softer sales is not unusual as the spring peak transitions into the quieter summer months.

On the price side, the average sale price of $690,397 in September fell between August’s $686,536 and July’s $695,209, remaining up 0.3% year-over-year. Benchmark prices have remained relatively stable throughout this adjustment period, indicating that demand is holding steady even as buyers gain more choice.

Active listings rose to 4,388 in September, following 3,971 in August and 4,205 in July. These elevated inventory levels are a departure from undersupplied pandemic-era levels and align more with longer-run balanced conditions, though at elevated levels, which continues to be a trend worth monitoring. Continued steady demand helps to explain why prices have stayed relatively flat even as inventory builds. Months of inventory edged up to 4.0, compared to 3.2 in August and 3.2 in July, reinforcing this balance between buyers and sellers.

On September 17, the Bank of Canada cut its key policy interest rate by 25 basis points to 2.5%, citing slowing global growth and easing inflation pressures. This policy shift, combined with Ottawa’s resilient demand and balanced market conditions, could encourage more first-time buyers and bring additional activity to the market in the months ahead.

September saw the Ottawa market navigate the seasonal slowdown with resilience. With sales easing but holding above 2024 levels, prices stable despite rising inventory, and rate cuts setting the stage for stronger activity, the market is positioned to remain balanced, with the potential for gradually stronger sales and steadier price growth as the effects of the September rate cut flow through in the coming months.

“September reinforced Ottawa’s resilience, with sales nearly 2.4% higher than last year, and prices are holding steady despite more listings coming to market,” said the OREB President. “When you peel back the layers, you see that townhomes are driving stability while single-family homes are easing. And while Ottawa’s diversity of housing continues to increase inventory, missing middle housing—like townhomes—still aren't being built fast enough, and that’s something OREB continues to advocate for.”

Residential Market Activity

Looking at the bigger picture, there have been 11,025 home sales so far this year, which is 3.9% higher than at this time in 2024.

The average sale price for all sold listings in September was $690,397, up 0.3 % from last year.

This year, the average year-to-date price is $699,910, a 2.7% increase over the first nine months of 2024. 

Altogether, the total value of homes sold in September was approximately $751 million, up 2.8% year-over-year, with the housing sector continuing to be one of the major drivers of the overall Ottawa economy. 

On the listing side, there were 2,832 new residential listings added in September, a notable 19.3% increase compared to last year, and 4,388 active listings on the market, up 19.4% from September 2024, and roughly 21.8% above the five-year average for this time of year.

Finally, the months of inventory, a measure of supply, sits at 4.0 months, which is up from 3.2 months of inventory in August. Having 4.0 months of inventory is typically understood to be an indicator of what is considered a balanced market.

MLS® Home Price Index

As for prices, the MLS® Home Price Index (HPI) composite benchmark price in Ottawa was $627,200 in September, a nearly flat 1.1% increase year-over-year. 

If we break that benchmark price down by property type:  

• Single-family homes came in at $697,200, up 1.0%.

• Townhouses saw the biggest jump, up 7.8% to $462,800. 

• Apartments, on the other hand, dipped again, down 1.7% to $408,200.

Courtesy of the Ottawa Real Estate Board

Ottawa’s housing market in August 2025 offered buyers greater choice amid subtle signs of shifting dynamics. Last month, demand remained healthy, while supply continued to increase. Active listings climbed to 3,971, approximately 37% above the five-year August average.

This increase in inventory, while worth monitoring, is not currently a cause for concern. Ottawa’s real estate market follows well-established seasonal cycles, with late summer typically bringing a build-up of available listings ahead of the busy fall market. Both the sales-to-new-listings ratio of 58.3% and 3.2 months of inventory indicate that demand is keeping pace with supply, maintaining balanced market conditions.

It’s also important to recognise that 2020 and 2021 were historic outliers, with unusually low active listing levels that distort the five-year average. Excluding those years and instead referencing the pre-pandemic 2018 and 2019 figures, August 2025 inventory sits roughly 33–34% above the revised five-year trend — a more accurate measure of current market standing relative to historical norms.

Property-type trends continue to diverge. Single-family home HPI benchmarks remain broadly steady, and townhouse values are showing gains, while the condominium segment, particularly in the downtown core, remains comparatively soft. These variations present differing market opportunities depending on location, property type, and price point.

For buyers, the current combination of elevated inventory and steady demand presents a strategic window: more choice and greater negotiating power are available for those in a position to act on it. Meanwhile, broader provincial trends — such as slowing sales and rising supply elsewhere in Ontario — remain factors to watch. There are emerging signs of a potential turnaround in these markets that could support improved conditions in the months ahead.

OREB will continue to monitor these developments closely to ensure Members and consumers remain informed as Ottawa’s market evolves.

“August was an active month for Ottawa’s housing market, with overall prices trending upward and sales activity stronger than in recent years as the summer season winds down,” said the OREB President-Elect.

“While we continue to see different price movements across segments, the broader picture points to renewed momentum in the Ottawa Region as buyers and sellers alike re-engage ahead of the fall market. Ottawa’s market reflects balanced conditions, though we are mindful of broader economic factors—such as federal employment trends and U.S. trade policies—that could affect our market in the months ahead.”

Residential Market Activity

In August 2025, a total of 1,236 homes were sold across the Ottawa Real Estate Board (OREB) region. While down from 1,318 units in July 2025 and 1,602 in June 2025, this represents a 12.1% increase compared to August last year. Two consecutive months of slower sales are consistent with the spring-to-summer market seasonality, particularly as we are already approaching what is typically a more active fall market.

Looking at the bigger picture, there have been 9,936 home sales so far this year, which is 4.1% higher than at this time in 2024. 

The average sale price for all sold listings in August was $686,536, up 3.6% from last year. 

This year, the average year-to-date price is $700,828, a 3% increase over the first eight months of 2024. 

Altogether, the total value of homes sold in August reached approximately $850 million, up 16% year-over-year, with the housing sector continuing to be one of the major drivers of the overall Ottawa economy. 

On the listing side, there were 2,121 new residential listings added in August, a significant 8.6% increase compared to last year, and 3,971 active listings on the market, up 13.3% from August 2024, and 37.1% above the five-year average for this time of year. 

Finally, the months of inventory—a measure of supply— sits at 3.2 months, which is unchanged from last month and identical to last August’s metric as well. 3.2 months of inventory is typically understood to be an indicator of what is considered a balanced market.  Another indication that despite Ottawa’s high active listing count that demand is currently keeping pace with supply.

MLS® Home Price Index

As for prices, the MLS® Home Price Index (HPI) composite benchmark price in Ottawa was $633,000 in August, a modest 1.5% increase year-over-year. 

If we break that benchmark price down by property type:  

• Single-family homes came in at $700,100, up 1.5%. 

• Townhouses saw the biggest jump — up 8.3% to $466,200. 

• Apartments, on the other hand, dipped slightly — down 1.1% to $412,300. 

Courtesy of the Ottawa Real Estate Board

Ottawa’s housing market continues to demonstrate steady demand, moderate price growth, and a healthy level of supply, even as other markets experience increased volatility.

Nevertheless, it is important to keep an eye on what is happening across the province. Some markets in Ontario are encountering more pronounced slowdowns, with declining sales, price corrections, and rising inventory levels outpacing demand.

Historically, the perception is that Ottawa has been somewhat insulated from such extremes, due in part to its stable employment base and consistent population growth, but it is not entirely immune. Broader provincial or national trends have the potential to ripple through the local market over time.

Currently, the rise in active listings both year-over-year and compared to the five-year average may serve as an early indicator of rising supply pressure. At the same time, the sales-to-new-listings ratio changed from 51.7% to 55.1% from a year ago, providing a mixed signal that may indicate demand is currently keeping pace with supply. For the time being, this rise in inventory provides buyers with more choice, but this is certainly a trend worth monitoring.

“While we’ve seen demand may be softening in the condo market, especially in the downtown core, as a whole, Ottawa’s real estate market continues to stand out for its resilience and stability," says the President of the Ottawa Real Estate Board (OREB).

"With steady demand, balanced inventory, and moderate price growth, our fundamentals remain strong. We’re keeping a close eye on changing dynamics, and we’ll continue monitoring the data and providing transparent insights to help our Members and the public navigate with confidence.”

Residential Market Activity

In July 2025, a total of 1,318 homes were sold across the Ottawa Real Estate Board (OREB) region. While this is down from 1,602 units in June, it represents a 4.9% increase over July last year.

Looking at the bigger picture, there have been 8,704 home sales so far this year, which is 3.1% higher than at this time in 2024.

The average sale price for all sold listings in July was $695,209, up 2.2% from last year.

This year, the average year-to-date price is $702,840, a 3% increase over the first seven months of 2024.

Altogether, the total value of homes sold in July reached approximately $920 million, up 7.2% year-over-year, representing a huge contribution to the overall Ottawa economy.

On the listing side, there were 2,549 new residential listings added in July, a solid 11.7% increase compared to last year, and 4,205 active listings on the market, up 14% from July 2024, and 23.6% above the five-year average for this time of year.

Finally, the months of inventory—a measure of supply—rose slightly to 3.2 months, up from 2.9 at this time last year and 2.7 months from last month. 3.2 months of inventory is typically understood to be an indicator of what is considered a balanced market.

MLS® Home Price Index

As for prices, the MLS® Home Price Index (HPI) composite benchmark price in Ottawa was $633,100 in July, a modest 1.9% increase year-over-year. If we break that benchmark price down by property type:

• Single-family homes came in at $704,800, up 2%.

• Townhouses saw the biggest jump, up 8.3% to $468,000.

• Apartments, on the other hand, dipped slightly, down 1.6% to $411,900.

Courtesy of the Ottawa Real Estate Board

We’re thrilled to welcome Angela Thomson to the TRU Realty team!

Angela brings energy, enthusiasm, and a true passion for real estate to every client interaction. With a dedication to helping buyers and sellers navigate the Ottawa market, she prides herself on delivering personalized service and building lasting relationships.

Angela chose TRU Realty because of our competitive commission plan and the strong sense of community and support offered by our team. She was drawn to the collaborative atmosphere at TRU — where agents work together, share insights, and are backed by a brokerage that values professionalism and innovation.

Whether you’re buying your first home, upgrading, or investing, Angela’s thoughtful approach and commitment to her clients' goals make her a fantastic choice. We’re proud to have her representing the TRU way — where integrity, value, and teamwork define every transaction.

Welcome to the team, Angela!

Follow Angela’s real estate journey on Facebook: AngelaRealEstateinOttawa

We’re proud to welcome seasoned Realtor® Loren Myers to TRU Realty!

With a reputation built almost entirely on word-of-mouth referrals, Loren brings a level of discretion and professionalism that’s rare in the industry. His focus on high-end homes and discerning clientele speaks to his ability to deliver a truly personalized, concierge-style experience — the kind of service that earns trust and long-term relationships.

Loren’s deep knowledge of Ottawa’s luxury market and his calm, confident approach make him a natural fit for TRU Realty. He’s a true professional who understands the value of privacy, precision, and performance, and he brings those qualities to every client interaction.

At TRU Realty, we strive to provide the kind of brokerage support that allows agents like Loren to elevate their service even further. We’re thrilled he chose our team for the flexibility, value, and professionalism we’re known for.

Welcome, Loren — we’re excited to have you with us!

A total of 1,602 homes were sold through the MLS® System of the Ottawa Real Estate Board (OREB) in June 2025. This marks an 11.34% decrease from the previous month, but a more modest 10.6% increase compared to June 2024 and sits 3.8% above the five-year average.

“This was the busiest June we've seen in quite some time, with sales up 10.6% and new listings rising nearly 14% year over year, signifying we did, in fact, experience a delayed spring market,” says the OREB President. “We’re seeing more inventory hit the market, giving buyers more choice. With the changing market conditions, sellers need to be future-focused—pricing thoughtfully and preparing their homes to be one of the top picks in their area.”

“Apartments are one segment that continues to feel the strain, with sales down about 20% across Ottawa and inventory building. There is a variety of compounding factors in play here, including an increase in new construction, elevated financing costs and rising strata fees reducing affordability, especially for first-time buyers, but also, we’re seeing neighbourhood-specific factors impacting demand. Still, Ottawa remains a stable market. We’re getting back to familiar seasonal trends—where summer activity will pick up for families looking for a home prior to the school year, and with students returning to the city, a stronger fall is likely ahead.”

By the Numbers – Prices:

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.

• In June 2025, the overall MLS® HPI composite benchmark price was $634,300 — a 1.6% increase from June 2024.

  • The benchmark price for single-family homes was $707,600, up 1.6% year-over-year.

  • The benchmark price for townhouse/row units** was $467,900, a 9.0% increase from 2024.

  • The benchmark price for apartments was $411,500, representing a 0.6% decline year-over-year.

• The average price of homes sold in June 2025 was $723,152, a 5.2% increase over June 2024.

• The total dollar volume of all home sales in June reached $1.15 billion — a 16.3% increase compared to the same month last year.

By the Numbers – Inventory and New Listings:

• In June 2025, 2,933 new residential properties were listed, marking a 13.8% increase over June 2024. New listings were 6.6% above the five-year average.

• Active residential listings at the end of June totalled 4,350 units, up 11.6% compared to the same month last year. Active listings were 42.6% above the five-year average.

• Months of inventory is at 2.7, relatively the same level as in June 2024. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Courtesy of the Ottawa Real Estate Board

We’re excited to welcome Michael Wood to TRU Realty!

With over a dozen years of experience as a REALTOR®, Michael brings a deep commitment to client care and a passion for doing things the right way. Known for blending cutting-edge technology with classic, hands-on service, Michael has built a reputation for delivering exceptional results and providing the kind of personalised attention every client deserves.

Whether it’s helping clients navigate real estate investments, development opportunities, or buying and selling their next home, Michael insists on first-class service from start to finish. He’s driven by a genuine desire to understand his clients’ needs and tailor each experience to fit.

Michael chose to join TRU Realty because of our commission plan and value, and we’re thrilled to have another professional who shares our commitment to doing more for clients.

Please join us in welcoming Michael to the TRU team!

We’re excited to welcome Eva Pomedli to the TRU Realty team!

Eva brings her passion for real estate and dedication to client service to our growing group of professionals. She chose to join TRU Realty because of our commission plan and the exceptional value we provide to our agents—and we’re thrilled to have her on board!

Eva’s approachable nature and professional presence are evident both in person and through her social media, where she shares helpful insights and a genuine enthusiasm for the industry. Whether you're buying, selling, or just exploring your options, Eva is committed to making the process smooth, informed, and successful.

You can connect with Eva here:
📸 Instagram: @evapomedli
📘 Facebook: Eva Pomedli Real Estate

Welcome to TRU, Eva—we’re glad you chose to grow your business with us!