Ottawa Real Estate: October 2025 Insights and Findings

October marked a promising start to Ottawa’s fall real‑estate season. The mid‑range market (under $2 million) saw renewed energy: freehold transactions climbed to 765, and condo deals held steady at 243. Absorption rates improved significantly as freehold contract‑to‑new‑listing ratio was 55.88 % with 1.79 months of supply, while condos recorded a 38.76 % contract‑to‑new‑listing ratio with 2.58 months of inventory. Buyers are still selective, but the market’s pace picked up compared with September.

At the top end, activity also strengthened. Thirteen properties over $2 million went under contract (up from ten in September) with a median list price of $2.5 million and a median marketing time of 46 days. Inventory remains elevated, however: 133 luxury listings were on the market, with 41 new additions and a median list price of $2.4999 million. It would take about 10.23 months to absorb this supply at current sales rates, underscoring the buyer‑friendly conditions in the luxury segment. Still, well‑priced homes continue to attract interest quickly.

Under $2 Million: Momentum Returns, But Caution Persists

After a softer September, Ottawa’s mid‑market heated up. Freehold sales rose to 765, and condos tallied 243 transactions.

Absorption tells us a bit more about the market dynamics:

• Freeholds: Contracts signed represented 55.88 % of the new listings added in October, with just 1.79 months of supply. The price range spanned between $300 ,000 to $1.878 M, including 115 units over $1 million, and 1,369 new listings hit the market. Buyer confidence is back, though they continue to seek value and quality.

• Condos: Contracts signed increased to 38.76 % of the new listings added in October with 2.58 months of supply. Prices ranged from $204 ,000 to $1.95 M, only 4 units exceeded $1 million, and 627 new listings were added. While still slower than freeholds, the condo market has strengthened since September.

This uptick suggests Ottawa’s mid‑range remains strong. Steady employment, modest rate relief and the city’s relative affordability compared with Toronto and Vancouver are drawing buyers back.

Luxury Market Over $2 Million: More Activity, Yet Still a Buyer’s Market

October delivered 13 luxury contracts, signalling a modest rebound from September’s ten deals. The median list price was $2.5 million, and median days on market climbed to 46. Notable sales included 421 Lansdowne Road (last ask $4.398 M) and 506 Piccadilly Avenue (last ask $3.895 M).

Inventory is still high: 133 luxury properties were on offer, with 41 new entries. The median price of new listings was $2.4999 million, and the segment still faces about 10.23 months of supply. Monthly absorption sits at 9.77 %, so buyers continue to retain leverage. Top new listings included 6351 Rideau Valley Drive ($5.975 M) and 608 Byron Avenue ($3.399 M) highlight the continued growth in high‑end options.

Reading the Market

Analysts across Canada describe the early fall housing market as subdued. National resales slipped for the first time in five months, and many major cities, including Ottawa, experienced modest declines. A drop in new listings kept the sales‑to‑new‑listings ratio around 50 %, signifying balanced conditions nationwide. Overall inventory remains high in Ontario and British Columbia, giving buyers more choice and negotiating room.

Despite this cautious national picture, Ottawa’s October performance stands out: the city’s mid‑market saw stronger absorption rates and a rebound in luxury contracts. Ottawa’s stable employment base and relative affordability appear to be supporting demand even as buyers elsewhere remain hesitant.

Economic Backdrop and Buyer Mindset

The broader economic backdrop is mixed. At the end of October, the Bank of Canada reduced its policy rate by 25 basis points to 2.25 %. The Bank pointed to a 1.6 % contraction in GDP and trade‑related uncertainties, alongside inflation near the 2 % target and an unemployment rate around 7 %. Lower rates should provide some relief to buyers, but economists warn that the benefits of earlier rate cuts are fading and wage growth is slowing.

Nationally, months of inventory remain below long‑term averages overall, but Ontario and B.C. still have more supply than usual, tilting markets towards buyers. Reports also note that pent‑up demand in B.C. and Ontario should support sales, though the recovery is expected to be modest. Improving affordability has slowed as income growth cools, particularly in Ontario’s job market, which remains soft.

Outlook

Heading into late 2025 and early 2026, Ottawa appears poised for stable but cautious growth. The under‑$2 M segment shows renewed strength, likely maintaining balance as long as employment holds steady. The luxury market will continue to favour buyers, though distinctive, well‑priced homes should continue to sell. Nationally, abundant inventory and sluggish labour markets will keep buyers firmly in control in Ontario and B.C. The Bank of Canada’s rate cut offers some optimism, but affordability improvements may slow as wage growth decelerates.

For Ottawa homeowners, success this fall and winter will hinge on strategic pricing and polished presentation. For buyers, the combination of plentiful inventory, stable interest rates and calmer price growth makes this a favourable window to secure well‑located properties before the spring market arrives.

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October 2025 | Ottawa Signed Contracts Contracts Signed Over $2 Million
Rank	Address	View	Last Asking Price	Details
1	421 Lansdowne Road, Ottawa, Ontario K1M 0X8 (Rockcliffe Park)	🔗	$4,398,000	5 Bed / 5 Bath
2	506 Piccadilly Avenue, Ottawa, Ontario K1Y 0H8 (Wellington Village)	🔗	$3,895,000	5 Bed / 5 Bath

October 2025 | Ottawa New Listings New Listings Over $2 Million
Rank	Address	View	List Price	Details
1	6351 Rideau Valley Drive, Manotick, Ontario K4M 1B3 (Manotick)	🔗	$5,975,000	5 Bed / 5 Bath
2	608 Byron Avenue, Ottawa, Ontario K2A 0E5 (Westboro)	🔗	$3,399,900	4 Bed / 4 Bath

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