Spring is coming, but buyers and sellers aren’t just watching the housing market—they’re watching interest rates, the Canadian dollar, and, somehow, Donald Trump. The Ottawa real estate market remained steady in February, with home prices holding firm despite a slowdown in sales and a sharp increase in inventory. While demand remains, economic uncertainty and upcoming elections are influencing both buyers and sellers.
Key Market Trends & Stats
- Total Homes Sold: 809 (-10.2% YoY)
- New Listings: 1,668 (+4.8%)
- Active Listings: 3,735 (+61.4%)
- Months of Inventory: 4.6 (up from 2.6 last year)
According to the Ottawa Real Estate Board (OREB), more sellers are entering the market after holding off in previous months. While this gives buyers more options, sales activity remains below historical averages. Market uncertainty, interest rates, and upcoming elections are all shaping decisions.
Home Prices & Market Activity
- Overall Benchmark Price: $658,300 (+4.4% YoY)
- Single-Family Homes: $719,800 (+1.3%)
- Townhouses: $438,000 (-11.6%)
- Condos: $459,300 (+4.5%)
- Average Sale Price: $669,945 (+1.4%)
With more inventory on the market, buyers have increased negotiating power. However, competitive pricing and strong marketing remain crucial for sellers looking to attract serious offers.
What to Expect Next
📌 Sellers: More competition means proper pricing & presentation are key.
📌 Buyers: More options, but watch how interest rates evolve in the coming months.
As we head into the spring market, confidence could rise if borrowing conditions improve. Whether you’re buying or selling, let’s strategize your next move!
#OttawaRealEstate #MarketUpdate #HomeBuying #HomeSelling
