Editors note: Due to errors in the Ottawa Real Estate Board’s April report, inaccurate numbers for active listings appeared in the original version of this article. Those numbers have been corrected.
Spring appears to have smiled on the April 2025 resale market in Ottawa, although sales transactions were down compared to the same month last year, according to the latest report from the Ottawa Real Estate Board.
Realtors sold 1,306 homes in April through the board’s Multiple Listing Service (MLS). That number was a jump of 18 per cent from March but down more than 11 per cent from April 2024. It was also more than 17 per cent below the five-year average and 16 per cent below the 10-year average for the month of April.
Year-over-year sales have slipped every month since the start of 2025 in contrast to several months of year-over-year growth in the last part of 2024.
“While April sales were down year-over-year, we saw a healthy month-over-month increase — an encouraging sign of growing momentum as we move through the spring market,” said OREB president Paul Czan in a statement. “Inventory remains at higher levels compared to previous years, indicating a gradual move towards a balanced market.”
The Canadian election was less than two weeks ago, but Czan, striking an optimistic note, said: “With more certainty following the federal election, buyers are returning with greater confidence — but they’re proceeding cautiously, taking their time, including conditions in their offers and being more selective.”
Homes that are priced and show well are moving, with some even getting multiple offers, he added.
Prices, inventory and listings
The trajectory of selling prices in April was mixed.
The benchmark price for single-family homes last month was $703,200, up one per cent year-over-year.
By comparison, the benchmark price for a townhouse/row unit was $440,000, an increase of 4.4 per cent from 2024.
Condos sold for a benchmark price of $404,000, a 2.8 per cent drop from the previous year.
MORE: March 2025 resale market sees more slippage
While new listings dropped last month, active residential listings totaled 3,834 units, a 21 per cent leap from April 2024. Those listings were almost 87 per cent above the five-year average and more than 51 per cent above the 10-year average for the month of April.
Months of inventory stood at 2.8 at the end of April compared to 2.1 in April 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.
Observing April’s market activity, a press release about the latest RE/MAX Hallmark Realty Group Market Insight said Ottawa’s resale market favours buyers, especially in the condominium and single-family home segments.
Looking ahead, RE/MAX Hallmark Realty Group says to “expect further increases in inventory as summer listings ramp up. While another rate cut could inject new momentum, the market is unlikely to return to the frenetic pace of 2021–2022. Ottawa’s real estate is entering a new chapter; defined not by fear or frenzy, but by balance and opportunity for well-informed buyers and sellers.”
Original version of this article published May 7, 2025.
