As we kick off a new year, the Ottawa real estate market is showing early signs of shifting dynamics. January 2025 brought a modest dip in sales activity, paired with a notable increase in available inventory. These trends, combined with a steady rise in average and benchmark prices, offer valuable insight into what buyers and sellers might expect in the months ahead. Let’s take a closer look at how the market performed to start the year.
January 2025 at a Glance
Inventory Levels in January 2025
In January 2025, the Ottawa Real Estate Board (OREB) saw 617 residential properties sold across the Ottawa real estate market. This represents a 4.2% decrease compared to January 2024. Sales remained 13.0% below the five-year average and 9.6% below the ten-year average.
January saw 1,359 new listings (+3.0%), 14.1% above the five-year average and 9.3% above the ten-year average. There were 3,312 active listings (+57.3%), 90.6% above the five-year average and 48.9% above the ten-year average.
Home Prices in January 2025
The benchmark price represents the value of a typical home in a given category. The benchmark price for all property types across the Ottawa MLS® system was $649,900 (+5.2%). Breaking it down by property type:
- Single-Family Homes: $713,000 (+2.3%)
- Townhomes/Row Units: $448,000 (-3.9%)
- Apartments: $436,900 (+4.5%)
The average sale price for all homes sold in January was $670,258 (+ 5.8%). While this figure can vary from month to month, it offers a helpful snapshot of overall price trends and long-term market movement.
January’s numbers suggest a market that’s slowly rebalancing. With more inventory coming and prices holding steady, or rising slightly in some categories, buyers have more options, while sellers continue to benefit from strong property values. Whether you’re planning to make a move this spring or simply keeping an eye on the market, understanding these early trends can help you stay one step ahead.
Have questions about what these stats mean for your plans in 2025? I’m always here to help!
