Ottawa Real Estate: May 2025 Insights and Findings
Ottawa’s real estate market continued to display signs of segmentation in May, with activity levels diverging further between the mid-market and luxury segments. While broader economic sentiment seems to be leveling off, buyer confidence appears to be holding in core areas of the market. The luxury segment, meanwhile, showed an uptick in activity but still remains well-supplied and slower-moving compared to sub-$2M housing.
Market Activity Under $2 Million
The sub-$2 million segment remained the engine of Ottawa’s resale market. In the freehold category, 1,154 contracts were signed in May, with sale prices ranging from $250,000 to just under $2 million. Of these, 196 involved properties over the $1 million mark which indicates continued traction in the upper-mid range of the market. With 2,109 new listings introduced in May, the freehold absorption rate settled at 54.72%, with months of inventory calculated at 1.83. This reflects ongoing strength in demand and a market that still favors sellers, particularly those listing turnkey, well-priced properties.
In the condominium segment, 364 units sold in May, spanning a price range of $200,000 to $1.78 million. Seven of these transactions crossed the $1 million threshold. Inventory also increased, with 782 new listings brought to market. The absorption rate stood at 46.55%, with 2.15 months of inventory. Again, this indicates a market that, while slightly more balanced than the freehold side, it still favors sellers when properties are well positioned.
Together, these numbers point to sustained activity and relatively efficient turnover in the sub-$2M space. Despite broader affordability pressures, buyers remain active and responsive to quality offerings, especially in walkable neighborhoods, school catchment areas, and well-connected transit corridors.
Luxury Market Over $2 Million
The high-end market over $2 million saw a notable increase in activity in May. A total of 18 contracts were signed, double the number recorded in April. The median list price for these sales was $2.323 million, and median marketing time dropped significantly to just 13 days, down from 70 days in April. This marked acceleration in deal velocity suggests that, while the luxury market remains selective, buyers are stepping off the sidelines when value and presentation align.
On the supply side, 61 new listings over $2 million came to market in May, increasing total luxury inventory to 122 properties, which is up from 75 in April. The median list price among new May listings was $2.495 million. Absorption also picked up, reaching 14.75%, with 6.78 months of inventory. This is a marked improvement from April’s 12% absorption rate and 8.33 months of inventory. While still technically a buyer’s market by definition, these metrics point to movement and a possible stabilization at the upper end.
Reading the Market
The contrast between Ottawa’s market segments remained clear in May, though early indicators hint at a possible shift toward alignment. The sub-$2M market remains active, competitive, and seller-leaning, buoyed by demand for well-priced homes and tight inventory. In contrast, the luxury market is shifting. After months of sluggish activity and oversupply, May brought a welcome bounce in sales velocity and absorption.
Still, caution prevails at the top. The gap between buyer expectations and seller pricing remains a factor, especially as more luxury inventory comes online. Success in this segment continues to rely heavily on pricing, presentation, and professional marketing.
As summer approaches, we’ll be watching to see if the momentum in the luxury market carries into June or if May proves to be an outlier in an otherwise buyer-dominant segment. In the meantime, the sub-$2M market continues to be the pace-setter for Ottawa real estate, reflecting ongoing end-user demand and relative resilience.
| May 2025 | Ottawa Signed Contracts Contracts Signed Over $2 Million |
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|---|---|---|---|---|
| Rank | Address | View | Last Asking Price | Details |
| 1 | 1048 Boucher Cres, Manotick, Ontario K4M 1B3 |
🔗 | $3,295,000 | 5 Bed / 3 Bath |
| 2 | 89 Fourth Ave, Ottawa, Ontario K1S 2L1 |
🔗 | $3,250,000 | 5 Bed / 5 Bath |
| May 2025 | Ottawa New Listings New Listings Over $2 Million |
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|---|---|---|---|---|
| Rank | Address | View | Asking Price | Details |
| 1 | 20 Kanata Rockeries, Kanata, Ontario K2K 3P4 |
🔗 | $6,200,000 | 6 Bed / 8 Bath |
| 2 | 39 Winding Way, Barrhaven, Ontario K2C 3H1 |
🔗 | $4,999,000 | 4 Bed / 5 Bath |
© 2025 HAUS COLLECTION REALTY LIMITED. ALL WORLDWIDE RIGHTS RESERVED. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. THIS INFORMATION IS BASED ON DATA FROM THE OTTAWA REAL ESTATE BOARD AND INTERPRETED BY HAUS COLLECTION REALTY LIMITED. DATA HAS BEEN LIMITED TO SALES REPORTED WITHIN THE CITY OF OTTAWA BOUNDARY. IF YOUR PROPERTY IS CURRENTLY LISTED WITH ANOTHER REAL ESTATE BROKER, OR YOUR ARE UNDER A BUYER REPRESENTATION CONTRACT WITH ANOTHER REAL ESTATE BROKER, PLEASE DISREGARD THIS OFFER. IT IS NOT OUR INTENTION TO SOLICIT THE OFFERINGS OF OTHER REAL ESTATE BROKERS.
