Ottawa’s October 2025 resale market showed its traditional resilience in the face of broader economic uncertainty, according to the Ottawa Real Estate Board.
Despite everything from continued confusion about the future of United States tariffs to public service downsizing looming in the federal budget that was just released, Realtors last month sold 1,177 homes through the board’s Multiple Listing Service (MLS). That was up more than eight per cent compared to September 2025, although September was the third month in a row with a sales decline, which the board had attributed to a typical seasonal cycle.
October’s sales were also down a marginal one per cent compared to the same month last year. Year to date, sales are up more than three per cent over the same period last year and six per cent higher than the 10-average.
As usual, single-family homes led the resale pack, with 639 sold last month. Townhomes were next at 361 and condo apartment sales were half that, clocking in at 150.
Prices, listings and inventory
The benchmark price of singles in October was $692,400. While that’s almost equal to the price in the same month last year and up a scant 2.3 per cent from three years ago, it’s more than 21 per cent more expensive than a single-family home five years ago.
Townhomes fetched a benchmark price of $456,300 last month while condo apartments rang in at $402,900. Townhomes were 6.6 per cent higher than a year ago and almost 30 per cent more than five years ago. Condos, by contrast, were basically the same price as last year and a scant 6.8 per cent pricier than five years ago.
While prices are creeping up only slowly, a recent survey conducted for the board by Abacus Data suggests that the cost of a home is still unaffordable for many would-be buyers. Affordability and the cost of living is a concern to more than just potential buyers, according to the survey: it found almost two-thirds of those surveyed are afraid they’d lose their home if their financial situation changed for the worse.
A small, recent cut to the Bank of Canada rate may help those wishing to get into the market in the coming months, although it does nothing to drive down the actual selling price of a home.
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Active and new listings both declined slightly in October compared to the previous month, a familiar fall pattern, according to the board. Months of inventory also slipped, from four to 3.6 months.
“Ottawa’s market continues to demonstrate balance and resilience,” said OREB president Paul Czan in a release. “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.”
