The Ottawa Real Estate Board (OREB) says home sales in March were down more than six per cent compared to March 2024, but prices were up slightly.
The latest figures show 1,103 units were sold last month, down 6.2 per cent from the same period last year. Home sales were 24 per cent below the five-year average and 19.3 per cent below the 10-year average for the month of March.
The benchmark price for a single-family home was up 2.7 per cent over 2024, at $698,700, but townhouses and apartment prices declined year-over-year. Townhouses prices were down 8 per cent at $431,200, while apartment prices declined $4.3 per cent to $400,900 compared to March 2024.
The average price of homes sold in March 2025 was $685,866, unchanged from March 2024, but up from the average price of $669,945 reported in February 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 in a news release. “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.”
OREB says active residential listings totaled 4,319 units at the end of March 2025, a 60.3 per cent surge from March 2024. A total of 2,221 new residential properties added to the market in March.
