As we kick off Q2 2025, Ottawa’s real estate market shows signs of stability - quiet strength beneath all the rate noise and affordability headlines. The latest numbers reveal which property types are holding firm and where the opportunities are.
Let’s break it down by category and compare this year's first quarter to Q1 2024:
Condo Apartments
Q1 2025: 448 sold | 48 days on market | 97.69% list-to-sale ratio
Q1 2024: 503 sold | 42 days on market | 98.00% list-to-sale ratio
Sales down 11%, longer time to sell, and slightly more room for negotiation.
Condo Townhomes
Q1 2025: 229 sold | 39 days on market | 98.65% list-to-sale ratio
Q1 2024: 186 sold | 33 days on market | 98.00% list-to-sale ratio
Sales up 23%, strong price performance, and steady buyer interest despite longer timelines.
Freehold Townhomes
Q1 2025: 484 sold | 30 days on market | 99.39% list-to-sale ratio
Q1 2024: 491 sold | 30 days on market | 97.17% list-to-sale ratio
Volume holding steady, but sellers are now seeing much stronger offers and minimal discounting.
Detached Homes
Q1 2025: 734 sold | 31 days on market | 98.61% list-to-sale ratio
Q1 2024: 798 sold | 31 days on market | 97.33% list-to-sale ratio
Slight dip in sales, but buyers are coming in closer to asking price - demand for detached homes remains solid.
What This Means for You
Sellers have pricing power. Properties are holding value and often selling near full price.
Townhomes are the hot ticket. Both condo and freehold townhomes are performing exceptionally well.
Detached homes continue to attract serious buyers. Even with a drop in sales volume, the pricing tells the story.
Condos present buying opportunities. Especially apartment-style units, where there's more room to negotiate.
Final Thoughts
Ottawa’s market isn’t booming - but it’s solid. Buyers are active and paying strong prices when homes are positioned properly. Sellers who are priced right are winning.
Thinking about making a move this year? Let’s talk strategy.
Mitch MacKenzie
mitch@mattrichling.com
613 282 9441
