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Housing Price Report: Ottawa Market Report – Q3 2025

Today, Royal LePage® released its Q3 2025 House Price Survey. Below are highlights from the report for the Ottawa, Ontario, housing market.

  • In Ottawa, the aggregate[1] home price remained flat, increasing a modest 0.3% year over year to $777,400 in Q3 2025, and declined 0.6% from Q2 2025.
  • The median price of a single-family detached home decreased 1.0% year over year to $885,700.
  • The median price of a condominium increased 2.1% year over year to $408,700.
  • Royal LePage is forecasting that the aggregate price of a home in Ottawa will increase 2.0% in the fourth quarter of 2025, compared to the same quarter last year. The previous forecast has been revised down modestly to reflect current market conditions.

October 15, 2025 – “After a stronger-than-expected summer, Ottawa’s real estate market is holding steady, with sales activity moving closer to long-term averages and buyer interest remaining healthy,” said John Rogan, broker of record, Royal LePage Performance Realty. “Prices have been stable, slipping slightly compared to spring, but still showing modest gains compared to last year. A wide range of buyers are re-engaging, and the fall market has started off on a strong note.”

Rogan noted that while inventory has been rising gradually, supply remains balanced. “We are not seeing distressed sales or major challenges with mortgage renewals, and homes are spending about the same amount of time on the market as they traditionally do. First-time and move-up buyers are both active, and with limited rental options available in the city, many are drawn to home ownership. Sellers are still confident, but they also recognize that conditions are more balanced than in the past couple of years.”

Rogan expects Ottawa’s housing market to remain stable in the months ahead. “The recent interest rate cut has boosted confidence, and another cut could encourage even more buyers to step in. While there is some uncertainty around potential government job cuts, overall sentiment is positive, with prices expected to remain steady through the end of the year.”

Nationally, the aggregate price of a home in Canada recorded virtually no change in the third quarter of 2025, increasing just 0.1 per cent year over year to $816,500. However, on a quarter-over-quarter basis, the national aggregate home price posted a decline of 1.2 per cent, driven by depreciation in many major markets across the country over the summer.

“Canada’s housing market is shifting toward balance, as easing prices, rising listings and renewed rate cuts improve affordability across most regions,” said Phil Soper, president and CEO, Royal LePage. “For the first time in years, buyers – especially in previously supply-strapped markets – have real choice and negotiating power. With confidence returning and further rate reductions expected into early 2026, we anticipate noticeably stronger activity by the spring.”

Following a slower-than-usual start to the year, home sales picked up late in the spring and have consistently increased over the last five months, according to the Canadian Real Estate Association (CREA).[2]

“Affordability is improving and the economic backdrop remains remarkably stable, yet consumer confidence is lagging,” said Soper. “Many buyers remain hesitant – some worried about broader economic uncertainty, others waiting to see if prices dip a little further before stepping in.”

The Royal LePage National House Price Composite is compiled from proprietary property data nationally and regionally in 64 of the nation’s largest real estate markets. When broken out by housing type, the national median price of a single-family detached home increased 1.2 per cent year over year to $860,600, while the median price of a condominium decreased 1.6 per cent to $580,700. On a quarter-over-quarter basis, the median price of a single-family detached home and a condominium declined 1.1 and 1.9 per cent, respectively. Price data, which includes both resale and new build, is provided by RPS Real Property Solutions, a leading Canadian real estate valuation company.

Compared to the peak of pandemic pricing in the spring of 2022, national home prices have come down by approximately five per cent, driven by depreciation in the urban centres of Toronto and Vancouver, where prices are currently sitting more than 12 per cent below the peak. Meanwhile, home prices have continued to appreciate in Quebec, the Prairies and Atlantic Canada.

“Buyer sentiment is being influenced by a complex mix of economic and psychological factors,” said Soper. “Despite materially improved affordability in major cities, many Canadians – particularly younger ones – remain cautious amid high post-pandemic living costs, perceived job uncertainty, and general unease about our economic prospects. It’s understandable that some are waiting before making such a significant purchase.”

Royal LePage is forecasting that the aggregate price of a home in Canada will increase 1.0 per cent in the fourth quarter of 2025, compared to the same quarter last year. The previous forecast has been revised down to reflect price depreciation across Ontario and British Columbia, and slowing growth in other major markets. 

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2025
Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2025 

[1] Aggregate prices are calculated using a weighted average of the median values of all housing types collected. Data is provided by RPS Real Property Solutions and includes both resale and new build.

[2] Canadian Home Sales Post Best August in Four Years, September 15, 2025