Courtesy of The MacGowan Team

Ottawa Housing Market Shows Stability as Spring Momentum Builds

DOWN 4.3% year-to-year $400,900 apartment

$698,700 single family UP 2.7% year-to-year

BENCHMARK PRICES

3.9 MONTHS OF INVENTORY

2,221 NEW LISTINGS 1,103 SOLD LISTINGS

4,319 ACTIVE LISTINGS

OTTAWA, April 7, 2025 - The number of homes sold through the MLS ® System of the Ottawa Real Estate Board (OREB) totaled 1,103 units in March 2025. “The Ottawa housing market in March 2025 remained relatively stable, with sales activity slightly lower than the same period last year,” said OREB President Paul Czan. “However, we’re seeing continued momentum month-over-month as the spring market gains traction. Both buyers and sellers are exercising some caution—likely due to economic uncertainty and the upcoming election—but the current lower interest rates are encouraging more activity as they step off the sidelines.” “Looking ahead, the ongoing trade and tariff concerns could affect new construction and further exacerbate supply challenges,” Czan adds. “So, it’s critical that the City of Ottawa continues collaborating

with key stakeholders. We were pleased to take part in discussions around the proposed New Zoning By-Law, which prioritizes housing options and opportunities to maximize options for Ottawa’s residents.” The overall MLS ® HPI composite benchmark price was $626,200 in March 2025, up 2.2% compared to March 2024 The benchmark price for single-family homes was $698,700, up 2.7% year-over-year in March. By comparison, the benchmark price for a townhouse/ row unit was $431,200, a decline of 8.0% from 2024. There were 2,221 new residential listings in March 2025. Months of inventory numbered 3.9 at the end of March 2025. Statistics reflect market activity in March 2025 | Source: OREB ® Ottawa Real Estate Board | Market values stated are of the average of Ottawa and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

Direct. 613-859-1317 Mike@MacGowanTeam.com www.MacGowanTeam.com

Mike MacGowan REALTOR ® 613.859.1317

Ken MacGowan B.Comm., CPA, CMA, Real Estate Broker 613.791.5480

Daren MacGowan REALTOR ® 613.324.5294

Each Office Independently Owned and Operated. 747 Silver Seven Rd UNIT 29, Ottawa, ON K2V 0H2 Affiliates Realty Ltd., Brokerage

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