Ottawa Condo Market Update for 2025

Nov 27

With insight from Charlene Weber, Realtor at New Purveyors

Ottawa’s condo market in 2025 is shaping up to be one of the most balanced years we have seen in some time. According to New Purveyors Realtor Charlene Weber, the current landscape offers both opportunities and challenges for buyers and sellers. Prices have remained steady, inventory has increased in several condo categories, and buyers are taking more time to make decisions. The end result is a stable and predictable environment, something Ottawa is known for when compared to more volatile cities.

Below is an in depth breakdown of what is happening in the market and how both buyers and sellers can position themselves to succeed.

Market Overview

Ottawa continues to benefit from a stable employment base and steady population growth. In 2025, overall residential inventory has increased slightly from month to month, which has helped keep market conditions balanced. In the apartment and condo category, average prices remain consistent with last year. Benchmark prices for typical apartment style units sit just over four hundred thousand dollars, remaining comparable to 2024.

Time on market has increased for condo units, moving from roughly one month last year to more than five weeks in many neighbourhoods. Months of inventory in the apartment category has also grown, indicating that buyers have more choices and less pressure to compete.

Although Ottawa saw a rise in overall housing starts in 2025, this increase has not translated into a surge of new condo developments. Stronger growth is appearing in other types of multi unit housing, which suggests that the condo supply pipeline may not expand dramatically in the near future.

What This Means for Buyers

According to Charlene Weber, today’s buyers have significantly more breathing room than they did during the peak activity years. Several key benefits are emerging for buyers in the condo market:

More choice
Elevated inventory means buyers can compare buildings, neighbourhoods, layouts, and amenities without rushing into decisions.

Less competition
With longer days on market and more balanced conditions, buyers are less likely to face multiple offer situations.

Better negotiating power
Buyers can approach offers with more confidence. There is room to negotiate on price, closing dates, and conditions such as inspections and financing.

Affordability advantage
Condos remain one of the most accessible entry points into Ottawa’s real estate market. This is especially beneficial for first time buyers, downsizers, and investors.

Overall, buyers can take their time, gather information, and prioritize value rather than speed.

What This Means for Sellers

For condo sellers, 2025 requires a more strategic approach. With buyers moving more slowly and inventory levels elevated in many condo categories, sellers need to set clear priorities and work closely with their agents.

Expect longer timelines
Condos are taking longer to sell compared to past years. Median days on market have increased and there is more active competition within many buildings and neighbourhoods.

Strategic pricing matters
With more supply available, overpricing can lead to extended market time. Well researched, competitive pricing is more important than ever.

Decide on your priorities
Sellers should know whether they value timing, price, or both. Those who need a faster sale may price more aggressively. Those with flexibility can wait for the right offer.

Strong marketing is essential
With buyers browsing more options, listings need professional photography, accurate descriptions, staging when possible, and targeted digital marketing to stand out.

According to Charlene Weber, the most successful sellers in this market are those who understand their own goals clearly and make data driven choices with their agent.

Why the Market Looks Balanced

Several factors are contributing to Ottawa’s balanced condo environment in 2025.

Steady employment and population growth
Ottawa’s economy remains stable. The workforce is supported by the federal government, education, health care, tech, and other public sector roles. This keeps housing demand steady even in slower economic cycles.

Moderate supply growth
Although housing starts increased in 2025, the strongest growth came from multi unit construction that is not necessarily condo focused. This means Ottawa is not experiencing a flood of new condo product, which helps support prices.

Mortgage rate environment
Moderate and stabilizing borrowing costs are encouraging some buyers to re enter the market. While caution still exists, improved affordability helps maintain demand.

Persistent interest in urban living
Younger buyers, students, newcomers, and professionals often choose condos due to location, transit access, and price. This consistent demand helps prevent sharp price drops even when inventory rises.

Looking Ahead to 2026 and Beyond

There are several trends that may influence Ottawa’s condo market over the next one to three years.

Potential tightening of supply
If new condo development remains slower than demand growth, existing condo units may become increasingly attractive. This could put upward pressure on prices in future years.

Foreign buyer ban expiration
Canada’s foreign buyer ban is scheduled to end January 1, 2027. It is unclear whether it will be extended. If it is not renewed, this could bring additional investor interest back into condo markets, including Ottawa.

Shift toward affordability focused housing
As freehold homes remain more expensive, condos may continue to attract first time buyers and downsizers who want to build equity without stretching budgets.

Key Takeaways for Real Estate Professionals

For Ottawa real estate agents, this period offers an opportunity to guide clients with clarity and realism.

For agents working with buyers
Encourage buyers to take their time, compare options, and focus on long term value. Provide detailed neighbourhood and building level insight.

For agents working with sellers
Help sellers understand how pricing, presentation, and timing affect outcomes. Provide clear data on comparable units and market conditions.

For investors
Monitor supply, rental demand, and neighbourhood level trends. Slower condo development could create favourable conditions for long term investors.

According to Charlene Weber, the most important message for clients in 2025 is that Ottawa’s condo market is stable, navigable, and suited to thoughtful decision making.

Final Thoughts

Ottawa’s condo market in 2025 is not defined by dramatic spikes or sudden declines. Instead, it is steady, predictable, and balanced. Prices remain stable, inventory is healthy, and buyers have more time to move comfortably through the process. Sellers can still achieve strong results when they price strategically and present their homes well.

This environment rewards preparation, education, and long term thinking. With thoughtful guidance from professionals like Charlene Weber and an understanding of current conditions, both buyers and sellers can make confident decisions in the Ottawa condo market.