The real estate market in Ottawa is feeling a little different this spring—slower, more cautious, and more balanced than usual. According to the latest numbers from the Ottawa Real Estate Board, home sales in March 2025 dropped by 6.2% compared to last year. In fact, sales were well below the average for both the past five and ten years.
So what’s going on?
More Homes for Sale, But Buyers Are Taking Their Time
Real estate expert Jason Pilon says one of the biggest changes is the rise in inventory. In March, there were 60% more homes listed than last year. That’s a big jump. But even with more options, many buyers aren’t in a rush.
“People are waiting and being careful,” Pilon says. “Homes are sitting on the market a bit longer, and decisions are taking time.”
Interest Rates Are Stable, But Uncertainty Remains
The Bank of Canada kept interest rates steady at 2.75%, which is still good news for buyers. But with talks of new tariffs on building materials like lumber, people are unsure how prices will change in the coming months.
If tariffs go up, it could mean higher costs for builders—making resale homes more attractive. But it could also push up prices overall, depending on how the industry responds.
Prices Are Holding Steady
Even with fewer sales, prices haven’t dropped.
Condo prices are up about 4%.
Townhomes and single-family homes also saw small increases.
This shows the market is cooling, but not crashing.
What This Means for You
If you're buying: It’s a good time to explore your options. Take your time—but be ready when the right home comes up.
If you're selling: Be prepared for longer selling times and price your home carefully.
If you're investing: Keep an eye on tariffs and construction costs. Things could shift quickly.
Have questions about your next move in Ottawa’s market? Let’s talk—whether you’re buying, selling, or just planning ahead. Message me anytime!
📞 Contact:
Murtaza Siddiqui, Broker
RE/MAX Hallmark Realty Group
610 Bronson Avenue, Ottawa, ON
☎ 613-805-1111
