What’s That House Worth? How to Tell If a Listing Price Is Too High, Too Low, or Just Right in Ottawa
Buying a home in Ottawa can feel like playing a game with no rulebook. You see two houses on the same street, both with similar layouts, and one is listed $75,000 higher than the other. So what gives?
If you’ve ever wondered whether a listing price actually reflects a home’s true value, you’re not alone. Ottawa house prices are influenced by a variety of factors — and not every listing tells the whole story. In this post, we’ll walk you through how to tell if a home is overpriced, underpriced, or priced just right in today’s market.
This isn’t guesswork — it’s based on what actually happens in Ottawa real estate.
Why Listing Prices Can Be Misleading
In an ideal world, homes would be listed for what they’re worth. But in real life, pricing is strategic — and sometimes emotional.
Here’s why:
Comparative Market Analysis (CMA): Agents look at recent sales of similar homes nearby, but there’s still room for interpretation.
Seller motivation: Some sellers aim high and hope for the best. Others price aggressively low to spark a bidding war.
Market trends: If homes are selling quickly with multiple offers, pricing strategies change accordingly.
The result? Listing prices can be more of a suggestion than a statement of value.
Signs a Home Might Be Overpriced in Ottawa
You don’t need a real estate licence to spot a listing that’s asking too much. Here are a few red flags to watch for:
It’s been sitting on the market too long. If comparable homes are selling in two weeks and this one’s been sitting for two months, something’s off.
It’s had a price drop (or two). Reductions can signal that the seller started too high.
It doesn’t match the neighbourhood. A small bungalow listed higher than a nearby renovated two-storey? That’s a clue.
The photos or staging don’t back it up. If a home is asking top dollar, but the marketing doesn’t reflect that, the value might not be there.
Overpriced homes often end up selling below asking, sometimes after months of waiting and a few price cuts along the way.
When a Home Is Underpriced on Purpose
In hot markets like Ottawa’s core, you’ll sometimes see listings that look way too good to be true. A semi-detached in Westboro listed at $599,000? That’s probably not where the seller expects it to land.
Welcome to the bidding war strategy.
Here’s how to spot it:
“Offers Presented On…” language. This usually means the sellers are waiting to collect multiple offers and choose the best one.
Suspiciously low price. If it feels like a deal, it’s probably bait.
It’s priced below recent sales for similar homes. If every other 3-bedroom in the area sold for $680K, a $599K list is likely just a starting point.
These homes are often underpriced to generate buzz. The winning offer could be $50K–$150K over asking, depending on the market and location.
Pro Tip: Don’t fall in love with the list price. Ask your agent for a realistic sale price estimate based on what similar homes actually sold for, not what they were listed at.
How to Spot a Fairly Priced Home
Sometimes, you come across a home that just feels right, and that’s usually because it is.
Here’s what a fairly priced Ottawa home often looks like:
It aligns with recent sales. The price is consistent with what similar properties in the area have sold for in the last 30–90 days.
It’s in good condition and move-in ready. Renovations, staging, and great marketing help justify the price.
It’s getting steady attention — but not chaos. Think booked-up showings and some early interest, but no mass panic.
These listings are often where you can negotiate fairly and avoid the unpredictability of a bidding war.
Why This Matters for Buyers in 2025
Ottawa’s real estate market is always changing. While it may not be as intense as Toronto or Vancouver, we’ve seen major shifts in buyer behaviour, interest rates, and inventory levels over the past two years.
In 2025, there’s more buyer confidence returning, but also more strategy required. With competition heating up in certain neighbourhoods and inventory still tight in others, knowing how to read a price tag is key to making a smart decision.
When to Lean on Your Agent’s Advice
Ultimately, an experienced agent can tell you what a home should sell for, not just what it’s listed for. At New Purveyors, we don’t just rely on stats. We walk the streets, watch the patterns, and know what’s going on behind the scenes in every major neighbourhood.
Wondering whether a listing is worth your time? We’re happy to give you a second opinion — no pressure, just perspective.
Not every listing tells the full story. But with the right knowledge — and the right team — you can spot value where others miss it, and avoid overpaying when emotions run high.
Still unsure what that house is really worth?
Let’s talk. We’ll break it down for you in real terms, with real data — no sales pressure, just insight that helps you move forward confidently.
