Ottawa’s July 2025 resale market shows strong fundamentals, but threats may lurk on the horizon, according to the Ottawa Real Estate Board.
Realtors sold 1,318 homes through the board’s Multiple Listing Service (MLS) last month. That’s down from 1,602 units in June but five per cent higher than July 2024 and 15 per cent higher than the 10-year average.
Single-family home sales (674) captured the lion’s share of last month’s market, followed by townhomes (436) and apartment condos (181).
For the year to date, 8,704 homes have been sold, three per cent higher than the same period last year.
While steady demand, moderate price growth and a healthy of supply homes currently characterize Ottawa’s resale scene, the board says the city — generally considered to be an oasis of market stability — is not necessarily immune to broader trends now gripping the national and provincial markets. Those trends include declining sales, price corrections and rising inventory levels outpacing demand.
For instance, the rise in Ottawa’s active listings may be an early indicator of rising supply pressure, according to the board.
“We’re keeping a close eye on changing dynamics, and we’ll continue monitoring the data,” board president Paul Czan said in a statement.
Prices and inventory
The benchmark price for single-family homes in July was $704,800, up two per cent year-over-year. Townhouses, with a benchmark price of $468,000, saw the biggest jump — more than eight per cent from last July. Condo apartments dipped slightly, down 1.6 per cent to $411,900.
For the year to date, the average price of all resale homes is $702,840, up three per cent from the same period last year.
Listings, as Czan notes, are robust. There were 2,549 new residential listings added in July, almost 12 per cent more than last year, and there were 4,205 active listings on the market, up 14 per cent from July 2024 and more than 23 per cent above the five-year average.
Months of inventory — the number of months it would take to sell inventories at the current rate of sales activity — were 3.2 in July. That indicates a balanced market.
