A Recap of October in Ottawa
October brought some long-awaited good news for buyers, but balance remains the defining feature of Ottawa’s market. The Bank of Canada’s second rate cut at the end of the month helped re-energize serious buyers, while sellers saw renewed activity heading into the cooler months.
Welcome, Paul!
We are incredibly excited to announce that Paul Franchuk has officially joined New Purveyors!
Paul brings more than 25 years of experience in the Ottawa market, including time as Sales and Marketing Director for one of the city’s largest condominium developers, where he helped shape some of the skyline we know today. Since moving to RE/MAX Hallmark’s downtown office, Paul has consistently ranked among Ottawa’s top-producing agents and earned a reputation for his professionalism, deep market knowledge, and collaborative approach.
For Matt, this announcement is particularly meaningful. Paul was a mentor early in his career, making this partnership a full-circle moment. Together, they share a vision for elevating service, mentoring agents, and continuing to raise the bar for how real estate is done in Ottawa.
Paul’s expertise in condominiums, new development, and luxury sales adds new depth to what we can offer our clients and strengthens our position as a trusted, full-service team in every corner of the city.
Please join us in giving Paul a warm welcome to the New Purveyors family. We’re proud to have him on board.
Meet Brian
Brian is our new videographer, who will be helping with all of our internal and external content going forward. We’re super excited to be bringing this in-house so we can get listings up faster and help our agents create the content they’ve been dreaming of.
Where Buyers are Gaining Ground
Ottawa’s market is finally starting to feel more balanced, and that’s good news for buyers. Inventory has eased slightly but remains higher than in recent years, giving buyers more options without the intense bidding wars of the past. The months of inventory measure slipped from 4.0 to 3.6, showing a steady pace where homes that are priced and presented well still move quickly.
With the Bank of Canada cutting rates again to 2.25%, borrowing costs are easing, and buyer confidence is quietly returning. Prices are holding steady rather than climbing sharply, which means buyers can take time to compare, negotiate, and make well-informed decisions as the market heads into winter.
FirstList (formerly Knokd)
Discover the hidden world of off-market real estate with FirstList! Did you know that 1 in 3 properties are shared off the public market as "Coming Soon" or "Exclusive"? Gain access to this exclusive inventory and elevate your home search or listing strategy today!
FirstList offers personalized approaches tailored to your needs, providing targeted and discreet exposure for listings before they hit the open market. Say goodbye to one-size-fits-all listings and hello to a customized real estate experience.
Contact your agent for more information on listing your property exclusively!
Ourboro
At New Purveyors, we're excited to introduce Ourboro's co-investment partnership—a game-changing solution to expedite your path to homeownership. By co-investing with Ourboro, you can secure a 20% down payment without additional debt, gaining access to expert guidance and a competitive edge in the market. Contact us to learn more and unlock your dream home sooner!
Real Estate News
Interested in hearing more from our agents about real estate? Let’s dive into some of our top blog posts this month:
How to Stage Your Ottawa Home (Without Spending a Fortune)
Kevin Morris breaks down the simple, high-impact steps sellers can take to make their homes shine without hiring a professional stager. From brightening dark corners to creating a sense of flow, his approach focuses on small details that add up to big results. Ottawa’s changing seasons can make homes feel dull if lighting or curb appeal are overlooked, but with Kevin’s practical tips — like clearing clutter, refreshing entryways, and paying attention to scent — sellers can make a lasting impression that photographs beautifully and feels inviting in person.
How to Choose the Right Ottawa Neighbourhood for Your Next Home
A thoughtful guide to narrowing down the options. Ottawa’s communities each have their own personality, and this piece walks readers through matching lifestyle and long-term goals with location. Whether you want morning walks by the Canal, family-friendly streets in Barrhaven, or easy access to the LRT, it’s a reminder that the right fit is about more than price — it’s about how you live.
A Lenders vs. B Lenders: What’s the Difference (and Which One Is Right for You?
Vineet Kauden unpacks a topic that confuses many first-time buyers. He explains the pros and cons of each option in plain language, clarifying how credit score, employment type, and flexibility can affect approval. The takeaway? There’s no single “best” lender — just the right match for your circumstances.
Neighbourhood Monthly Statistics
Ottawa’s housing market stayed balanced through October, with 1,177 properties sold — up 8% from September but down slightly year over year. The average sale price reached $709,002, 2.7% higher month over month and 5.7% above last year.
Inventory eased to 4,232 active listings, down 3.6% from September, while months of inventory slipped from 4.0 to 3.6, keeping conditions balanced. The benchmark price for a single-family home was $692,400, and $402,900 for an apartment.
The Bank of Canada’s latest rate cut to 2.25% added some optimism for next spring, though economic caution remains. Overall, Ottawa’s market continues to show stability, steady demand, and sustainable price growth heading into year-end.
Pet of the Month
You’ve met Theo and Gigi before, but we couldn’t help but share them one more time - in their Halloween costumes! A shoutout to Reed for bringing them by the office.
Send us your pets for the chance to be featured next month!
