Are Ottawa Condos a Good Investment in 2025? Here’s What You Need to Know

As Ottawa continues to grow, many buyers and investors are asking: Are condos in Ottawa still a smart investment in 2025? With prices adjusting, inventory rising, and rental demand staying relatively strong, the answer depends on what you’re looking for—and how well you understand today’s market.

Let’s break it down.

Why Investors Still Look at Ottawa Condos

Ottawa has long been known for its economic stability. With a large base of government workers, growing tech sector, and several post-secondary institutions, the city sees consistent demand for housing—even when national markets shift.

Condos remain an accessible option for first-time buyers and a popular pick for investors thanks to:

• Lower entry prices compared to freehold properties

• Steady rental demand, especially near transit, universities, and hospitals

• Low-maintenance ownership, with exterior upkeep handled by condo corporations

• Prime urban locations, often steps from shops, restaurants, and LRT stations

Updated Snapshot: Ottawa Condo Market – April 2025

According to the Ottawa Real Estate Board and CMHC:

• Average condo sale price: $426,413

• Year-over-year price change: –2.9%

• Average days on market: 32

• Inventory levels: 5.5 months (balanced leaning toward buyer’s market)

• Rental vacancy rate (purpose-built): 2.6%

The slight price dip and higher inventory suggest that buyers currently have more negotiating power, while rental demand remains stable.

Top Neighbourhoods for Condo Investment in 2025

If you’re considering buying a condo this year, location still matters most. Some areas remain stronger than others when it comes to long-term rental potential and resale value.

Centretown
Walkable, well-connected by transit, and packed with amenities. Condos here are popular with government workers, young professionals, and students.

Westboro & Hintonburg
Trendy, urban, and full of character—this area attracts tenants who want lifestyle and convenience. Many newer boutique condo buildings here offer strong rental potential.

Little Italy / Dow’s Lake
This area blends waterfront access, restaurants, and proximity to Carleton University and the Civic Hospital. Investors love the balance of livability and rental demand.

Tips for Smart Condo Investing in Ottawa

Not all condos are created equal. Here’s what to look for in today’s market:

• Strong building management and a healthy reserve fund (review the status certificate!)

• Reasonable condo fees, ideally under $0.75 per square foot

• Clear rental policies that allow long-term leasing

• Walkability, amenities, and transit access, especially near LRT lines

• Units with smart layouts, good natural light, and in-suite laundry

If your goal is rental income, target units in professionally managed buildings where tenants are likely to stay long term.

Is Now a Good Time to Invest?

With prices slightly down and inventory up, 2025 may be an ideal entry point—particularly for buyers who’ve been priced out in recent years. While it’s not the “buy anything and watch it double” market of early pandemic days, Ottawa remains a long-term hold city with solid fundamentals.

The key is to buy strategically.

Final Thoughts

Condo investing in Ottawa is less about timing the market and more about understanding the opportunity. With the right unit, in the right location, managed by the right people—your investment can generate strong returns and long-term stability.

Want help identifying which buildings are worth your attention—and which ones to avoid? That’s where we come in.

Let’s find the right condo for your goals.

Ottawa Real Estate Q1 2025: What the Numbers Are Telling Us

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

What to Look for When Buying a Condo in Ottawa (That No One Tells You About)

Buying a condo in Ottawa is more than just picking the prettiest unit in your price range. From the building’s financial health to the fine print in the rules, there’s a lot buyers overlook—especially when they're buying their first place or relocating to the city. Here are some things we always check (and some things most people forget to) before recommending a condo.

Start with the building, not just the unit.
It’s easy to fall in love with a unit that’s beautifully staged, has great natural light, or even feels like it could be “the one.” But none of that matters if the building is poorly run or has a weak reserve fund. Your unit’s value is directly tied to the building’s condition—and if the condo board isn’t proactive, you could be stuck with special assessments or higher fees down the line.

The status certificate is your best friend.
This is the document that shows how much money is in the building’s reserve fund, whether any major repairs are coming up, and if the seller is behind on condo fees. It also outlines the condo rules—like pet restrictions, short-term rentals, or even limits on renovations. Always review it with a lawyer (we can connect you with one if needed).

Watch for signs of a red flag.
Low condo fees aren’t always a good thing. Sometimes, it means the building isn’t saving enough for future repairs. If the building is over 10 years old and the fees haven’t changed much, that’s a conversation worth having.

Other signs to look for:

• Elevators breaking down often or long wait times

• A history of lawsuits (this would show in the status certificate)

• Unfinished common areas or delays in promised amenities

• Units sitting on the market longer than average

Check what’s actually included in your fees.
Some buildings include heat, water, and even concierge services. Others cover very little. If you’re comparing two condos with different fees, make sure you’re comparing apples to apples—one might be higher because it includes utilities you’d otherwise pay out-of-pocket.

Don’t skip parking and storage details.
Not every unit comes with a parking spot or a storage locker—and even if they do, they’re not always owned. Some are rented, which means you’re at the mercy of availability and rental rates. And in some buildings, spots can only be sold to other unit owners.

Get to know the neighbours—sort of.
Ask your agent about who tends to live in the building. Is it mostly students? Retirees? Young professionals? Families? It can tell you a lot about noise levels, how well the building is maintained, and whether it fits your lifestyle.

Think long-term resale.
Even if this is your forever home, things can change. We always recommend choosing a building with a strong resale track record—close to transit, in a high-demand area, and with features that hold value like balconies, natural light, and well-managed amenities.

Not all condos are created equal—even in the same price range or neighbourhood.
Two units might have identical square footage and finishes, but if one’s in a better-run building or a more desirable location, it’ll be worth more when you sell. That’s why having someone who knows the ins and outs of the local market (and every building’s reputation) can make a huge difference.

Need help figuring out which Ottawa condo buildings are worth your time?
We’ve been through hundreds of units, toured every floor plan, and know which buildings are well-run—and which ones are better to skip. Reach out and let’s start narrowing it down together.

Ottawa Condo Living: What You Need to Know Before You Buy

Thinking about buying a condo in Ottawa? Whether you're a first-time buyer, relocating for remote work, or just looking to simplify your lifestyle, condo living in the capital can be a great move—but it’s not for everyone. Here’s what you need to know about condo ownership in Ottawa, how to decide if it's right for you, and what to watch for when choosing your new place.

Why Do So Many People Choose Condos in Ottawa?

Ottawa’s condo market has taken off in recent years—and for good reason. Condos offer a lower-maintenance lifestyle with built-in amenities and lower price points than most freehold homes. They're also typically located in the city's most vibrant neighbourhoods like Centretown, ByWard Market, Westboro, and Little Italy, where walkability, culture, and dining are part of the daily experience.

Plus, with a large government workforce, a growing tech sector, and a strong remote work trend, more buyers are prioritizing convenience, transit access, and lifestyle—all of which condos in Ottawa deliver.

What You Actually Own in a Condo

When you buy a condo, you’re not just buying your unit. You’re also buying a share of the common elements: hallways, the lobby, amenities like gyms or party rooms, and even things like the roof and foundation. That’s why your monthly condo fees go toward maintaining those shared areas.

It’s also why reviewing a building’s status certificate matters—this document outlines the building’s finances, reserve fund, and any upcoming repair costs that could result in a fee hike or special assessment.

Condo Fees: What’s Included and What’s Not

Condo fees in Ottawa vary, but they typically cover building maintenance, management, insurance, amenities, and sometimes heat or water. Newer builds with rooftop terraces, concierge services, pools, or gyms usually come with higher fees, while older or smaller buildings often keep things simpler—and cheaper.

What’s not included? Your property taxes, hydro, and contents insurance (think: your actual furniture and belongings). Always read the fine print so you know exactly what your monthly costs will be.

Freehold vs. Condo vs. POTL: What’s the Difference?

Condo living doesn’t always mean a high-rise. In Ottawa, you’ll also see POTL (Parcel of Tied Land) homes—often townhomes that look like freeholds, but with shared services like snow removal or lawn care. These strike a nice balance for buyers who want the aesthetic of a freehold without all the outdoor maintenance.

Not sure what you’re looking at? Ask your agent (or reach out to us—we’re happy to break it down).

Things You Might Not Think to Check

• Reserve Fund: A healthy reserve fund means fewer surprise costs down the road.

• Short-Term Rental Rules: If you’re thinking of renting out your unit on Airbnb, make sure the building allows it.

• Noise and Soundproofing: Concrete buildings usually have better sound insulation than wood-framed ones.

• Parking and Storage: Not all condos come with a spot—or they might cost extra. Same goes for storage lockers.

Ottawa Neighbourhoods Popular with Condo Buyers

• Centretown: Ideal for those who want a mix of walkability, culture, and city views.

• Westboro: A little more laid-back with a boutique, local feel.

• Little Italy: Great restaurants, easy transit, and access to Dow’s Lake and the Trillium Pathway.

• ByWard Market: Trendy and historic, perfect for foodies and night owls alike.

Final Thoughts: Is Condo Living Right for You?

If you like the idea of having less to maintain, being close to the action, and living in a space that suits your lifestyle, a condo might be exactly what you need. But it’s not a one-size-fits-all situation—so having someone who knows the ins and outs of each building and neighbourhood can make all the difference.

Ottawa Condo Market Statistics - March 2025

Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for March 2025 in the top five "downtown" areas - Centretown, Byward Market and Sandy Hill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what is sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is roughly 14 days for almost every single transaction.

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The Ottawa real estate market continues to show signs of cautious stability as the spring market begins to bloom. According to the Ottawa Real Estate Board (OREB), 1,103 homes were sold through the MLS® System in March 2025—a 6.2% dip compared to the same time last year. While still down from historical averages, this figure points to a market that's finding its footing amidst economic uncertainty and lower interest rates.

“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. “However, we’re seeing continued momentum month-over-month as the spring market gains traction.”

Sales Activity: Still Slower, But Stabilizing

Sales activity across Ottawa remains subdued compared to recent years. As of March 2025:

• Total sales YTD: 2,621

• That’s down from 2,721 in 2024 and well below the pandemic highs of 4,170 in 2021 and 3,967 in 2022.

• Compared to the five-year average, home sales were down 24%, and 19.3% below the 10-year average for March.

This represents the third consecutive year of March sales under 3,000, indicating a more balanced pace in the market. Many buyers and sellers are still exercising caution due to broader economic concerns and the upcoming election, but lower interest rates are gradually drawing more people back into the market.

Inventory Is Growing — Fast

One of the most notable shifts this year has been the rapid rise in available inventory. As of March 2025:

• Active listings: 3,769 (up from 2,372 in 2024 and 2,027 in 2023)

• New listings: 2,221 (a 4.1% increase from 2024)

• Months of inventory: 4.3 — up from 2.6 last year and the highest level since at least 2019

This marks a 60.3% surge in active listings compared to the same time last year, giving buyers more choice and putting slight downward pressure on competition.

OREB President Paul Czan highlighted how ongoing trade and tariff concerns may continue to affect new construction and supply:

“It’s critical that the City of Ottawa continues collaborating with key stakeholders. We were pleased to take part in discussions around the proposed New Zoning By-Law, which prioritizes housing options and opportunities to maximize options for Ottawa’s residents.”

Prices: Modest Gains, But Condos Lagging

Despite lower sales volume, home prices are showing steady—if modest—year-over-year increases in most categories:

• Overall MLS® HPI Benchmark Price: $626,200 (+2.2% vs. 2024)

• Single-family homes: $698,700 (+2.7%)

• Townhomes/row units: $431,200 (+3.0%)

• Apartments: $400,900 (–4.3%)

This reflects a cooling of the condo market, which surged during the pandemic but may now be facing stiffer competition from more available low-rise and freehold options.

What This Means for Buyers and Sellers

If you’re a buyer, there’s more inventory to choose from and slightly less competition than in recent years. With 4.3 months of inventory now on the market, you may have a bit more breathing room—though desirable properties are still moving quickly if priced right.

If you’re a seller, realistic pricing and proper presentation are key. The rise in inventory means your home needs to stand out, but motivated buyers are still very much active.

Looking Ahead

The Ottawa real estate market is not surging, but it’s not stalling either. It’s a market in motion—balancing economic hesitations with growing buyer confidence as interest rates soften. If you're planning a move this year, whether buying or selling, the early spring numbers suggest now is the time to act before competition heats up.

Want to talk about how to navigate the current market? Let’s connect and make a plan that works for you.

Important to note is that these statistics can only be as accurate as there are condos sold in Ottawa. The more condos sold in an area, the more accurate the averages will be.

Want to chat about your options? Fill out the form at the bottom of the page, or text/call us directly at 613-900-5700 or fill out the form at the bottom of the page.

Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.