The number of active residential listings in Ottawa last month were up 57 per cent from January 2024 as more sellers jumped into the market but buyers remained cautious.
According to the Ottawa Real Estate Board, there were 3,312 units on the market at the end of January 2025, a gain of 57.3 per cent from January 2024. Active listings were 90.6 per cent above the five-year average and 48.9 per cent above the 10-year average for the month of January.
The number of new listings increased three per cent from January 2024, with 1,359 new residential listings in January 2025. New listings were 14.1 per cent above the five-year average and 9.3 per cent above the 10-year average for the month of January.
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“Ottawa’s market is seeing increased activity as more listings hit the market and buyers start to re-engage,” said OREB president Paul Czan in a press release Friday. “Many buyers and sellers had been waiting for more conducive market conditions, but with the recent rate cut and potentially lower interest rates on the horizon, optimism is growing.
“While there’s more supply, the availability of suitable properties in various market segments remains tight,” he added. “This is reflected in some homes selling quickly while others linger on the market. Sellers should be prepared to price competitively and present their homes in the best light to capture buyer interest in this evolving market.”
OREB reported that 617 homes were sold last month, a 4.2 per cent decrease from January 2024. Home sales were 13 per cent below the five-year average and 9.6 per cent below the 10-year average for the month of January.
“The recent Bank of Canada rate cut, introduction of U.S. tariffs, along with upcoming provincial and federal elections, introduce factors of variability,” added Czan. “That said, confidence is growing, and more buyers are expected to return to the market in the coming months, leading to an increase in transactions.”
The overall composite benchmark price was $649,900 in January 2025, an increase of 5.2 per cent from January 2024, OREB reported. The benchmark price for single-family homes was $713,000, up 2.3 per cent on a year-over-year basis in January. The benchmark price for a townhouse/row unit was $448,000, down 3.9 per cent compared to a year earlier.
The average price of homes sold in January 2025 was $670,258, increasing 5.8 per cent from January 2024, OREB said.
