Ottawa Real Estate Market Insights for 2025: Key Trends and Statistics
As we step into 2025, the Ottawa real estate market continues to evolve, presenting a dynamic landscape for buyers, sellers, and investors alike. Backed by insightful data from the Ottawa Real Estate Board and IMS Incorporated, let’s delve into the key trends shaping the market.
Ottawa Home Prices: A Resilient Market
Current Home Prices:
The average sale price for Ottawa homes, including residential properties and condos, reached $663,781 in December 2024.
Long-Term Trends:
Prices are up a remarkable 49% from pre-pandemic levels in 2019. However, they remain 12% below the pandemic high of March 2022, where prices peaked at $757,225. This resilience highlights Ottawa’s sustained demand and its appeal as a stable real estate market.
Sales Volume: Recovery in Motion
2024 Sales Activity:
Ottawa recorded 13,526 resales through the MLS in 2024, reflecting a 12% increase from the previous year.
Pandemic Perspective:
While volumes are still 25% below the pandemic peak in 2021, the upward trend suggests growing confidence among buyers and sellers.
Luxury Real Estate in Ottawa: A Thriving Market
The luxury segment (homes priced above $1M) now accounts for over 10% of all sales in the Metro Ottawa market.
Engel & Völkers Leadership:
Engel & Völkers Advisors represent a commanding 11% of all luxury home sales in Ottawa, solidifying the brokerage’s position as a market leader.
Ultra-Luxury Insights:
The ultra-luxury segment, comprising homes priced above $2M, saw a robust 17% growth, signaling Ottawa’s growing prominence among affluent buyers.
The Big Picture: A Market Balancing Growth and Stability
Despite economic fluctuations and pandemic-driven highs, Ottawa’s real estate market demonstrates its enduring strength. Buyers and investors continue to seek value, while sellers benefit from Ottawa’s consistent appreciation trends.
Why Engel & Völkers Ottawa Stands Out
With deep expertise in luxury and ultra-luxury markets, Engel & Völkers Ottawa has become a trusted partner for navigating the complexities of real estate. Whether buying, selling, or investing, our Advisors bring unparalleled market insights and personalized service to every client.
Looking Ahead
As the market grows in 2025, Engel & Völkers Ottawa remains committed to helping you make informed decisions. Whether you’re exploring the luxury segment or looking for the perfect family home, trust us to guide you every step of the way.
Contact us today to learn how Engel & Völkers Ottawa can help you achieve your real estate goals!