Do You Really Need a Parking Spot with Your Condo in Ottawa? Here’s What to Consider Before You Buy

When buying a condo in Ottawa, one of the biggest price jumps you’ll face comes down to parking.
A single spot can add $30,000–$60,000 to the purchase price—and not every buyer actually needs one.

So how do you know if it's worth it?

We’re breaking down the true pros and cons of owning a condo with or without a parking spot in Ottawa, and how to make the right decision for your lifestyle and future resale.

1. The Cost of Parking in Ottawa Condos

In most buildings, a deeded parking spot will cost you:

• $30,000–$45,000 in mid-range buildings

• $50,000+ in luxury buildings or those in the core

• $200–$400/month in rental options if not purchased

Not only do you pay up-front, but spots also come with higher monthly condo fees and sometimes property taxes.

2. Do You Actually Need It?

Ask yourself:

• Do you drive every day?

• Do you work from home or commute by transit/bike?

• Is the building in a walkable neighbourhood (like Centretown, Little Italy, or the ByWard Market)?

• Are car-sharing services nearby? (Communauto is huge in central Ottawa right now.)

If you’re not using a car often, you may be better off saving the upfront cost and renting a spot occasionally—if and when you need it.

3. How It Affects Resale Value

Here’s the truth: A condo with parking almost always sells faster than one without.

But not having one isn’t always a dealbreaker—especially if:

• The building is centrally located

• The unit is priced accordingly

• The buyer demographic is younger, car-free, or values walkability

Pro tip: Even if you don’t need it, buying a spot may still make sense purely for resale strategy—especially in buildings where only a small percentage of units include parking.

4. Alternatives to Parking

If your dream unit doesn’t include parking, consider:

• Underground rental spots in your building (often available through property managers or neighbours)

• Neighbourhood monthly parking (check Kijiji, Parkopedia, or community Facebook groups)

• Communauto car-sharing memberships

• OC Transpo pass or LRT proximity

Ottawa’s transit infrastructure is steadily improving—especially near Rideau Centre, Bayview, Lyon, and Lees stations.

5. Parking Stackers, Lifts, and Tandem Spots

Some newer buildings are offering parking stackers or tandem-style spots—which can save space but have quirks:

• Limited access

• Height/vehicle restrictions

• May not work well for larger vehicles

• Slower resale due to buyer hesitations

Final Thoughts

Buying a condo with parking in Ottawa isn’t always necessary—but it is an investment.
For some, it’s peace of mind. For others, it’s an extra $50K they’ll never use.

If you're unsure, we’ll help you weigh the cost, lifestyle, resale value, and neighbourhood factors to make the right move for you.

The Average Time to Sell a Condo in Ottawa

In general, condos in Ottawa take about 20–60 days to sell after being listed on MLS. But the timeline isn’t one-size-fits-all.

Here’s what can impact your sale:

• Neighbourhood: Condos in Centretown, ByWard Market, and Little Italy tend to move faster due to high demand and walkability.

• Price point: Well-priced units under $500K usually sell quicker than high-end or luxury condos.

• Building reputation: Buildings with strong management, good amenities, and low condo fees often sell faster.

• Time of year: Spring and early fall tend to be the busiest seasons for condo sales in Ottawa.

What Slows Down a Condo Sale?

Even in a relatively healthy market, some units linger. Here’s why:

• Overpricing: This is the #1 reason condos don’t sell. Buyers are informed and sensitive to value.

• Poor presentation: If your photos are dark, cluttered, or don’t show off your space properly, it’ll hurt your chances.

• High condo fees: Monthly fees over $800, unless justified by amenities or size, can scare off buyers.

• Limited availability for showings: Buyers move quickly. If your unit isn’t easy to see, it might be skipped.

• Older finishes: Even small cosmetic upgrades (like cabinet handles or light fixtures) can help a unit show better and sell faster.

How to Sell Your Condo Faster in Ottawa

Here’s how we help our clients cut down the days-on-market and maximize sale price:

• Pricing strategically: We do a full market analysis—not just based on what’s listed, but what’s sold. We also use off-market data to gauge demand.

• Professional photography & marketing: Your listing is everywhere it needs to be—MLS, Realtor.ca, Google, Instagram, our private email list, and more.

• Highlighting lifestyle, not just square footage: We sell your building, your location, and the lifestyle that comes with it.

• Positioning your unit competitively: We’ll recommend the right prep work—whether it’s paint touch-ups, minor staging, or just better lighting—to make it pop.

• Using off-market tools: Through platforms like Knokd, we can give your listing early exposure to qualified buyers before it hits the open market.

Real Results: What We've Seen

We recently helped a seller offload their unit after just 72 hours on the market—despite it having sat for two months with a previous agent. Why did it work?

• We priced it based on current trends.

• We launched with strong marketing and professional photos.

• We used off-market exposure first to generate buzz before hitting MLS.

This approach consistently shortens the selling timeline—and gets sellers closer to asking.

Final Thoughts

Selling a condo in Ottawa doesn’t have to be stressful or slow. With the right pricing, marketing, and guidance, your unit can stand out—even in a competitive market.

What’s the Difference Between a Freehold Condo and a Traditional Condo in Ottawa?

If you're looking to buy a condo in Ottawa, you might have come across the term freehold condominium and wondered how it’s different from a “regular” or traditional condo. Understanding this difference can affect not just your purchase, but your lifestyle, responsibilities, and future resale value.

Let’s break it down.

What Is a Traditional Condo?

A traditional condo, also known as a standard condominium, is the most common type of ownership you’ll see in Ottawa buildings like Claridge Plaza, The Mondrian, or The Gotham.

When you buy a traditional condo, you own your individual unit—usually defined by the interior walls—and share ownership of common elements like:

• The lobby

• Elevators

• Gym

• Hallways

• Exterior walls

• Roof and more

You pay monthly condo fees to cover the upkeep of these shared areas, plus building insurance, a reserve fund, and often heat and water.

This is what most people think of when they picture “condo living”—low maintenance, with an on-site property manager and shared amenities.

What Is a Freehold Condo?

A freehold condo—also called a common elements condominium—offers something a little different.

You own the land and structure of your unit (often a townhouse or bungalow), but you also share ownership of certain common elements with your neighbours. This could include:

• A private road

• Shared driveways

• Visitor parking

• Landscaping or snow removal services

The difference? You won’t own the common land, but you’ll have a Parcel of Tied Land (POTL) that connects your freehold property to the shared components. You’ll pay a small monthly fee to cover upkeep of those shared services.

It’s condo-style living without the shared hallways or elevators.

These are more common in newer suburban developments, like in Barrhaven, Stittsville, or Orléans, and they offer a great middle ground between freehold and condo living.

Freehold vs. Traditional Condo: Key Differences

• What You Own

  • Traditional Condo: You own the interior of your unit (walls inward).

  • Freehold Condo: You own the entire structure and the land your home sits on.

• Shared Elements

  • Traditional Condo: Common areas like the lobby, elevators, roof, and exterior walls.

  • Freehold Condo: Limited shared features like private roads, driveways, and visitor parking.

• Condo Fees

  • Traditional Condo: Usually higher, since they cover more services like building maintenance, insurance, and utilities.

  • Freehold Condo: Typically lower, only covering shared elements like snow removal or road maintenance.

• Maintenance Responsibilities

  • Traditional Condo: Most upkeep (including exterior work) is handled by the condo corporation.

  • Freehold Condo: You're responsible for your own unit’s exterior and yard upkeep.

• Lifestyle & Layout

  • Traditional Condo: Often apartment-style or loft living with shared indoor spaces.

  • Freehold Condo: Feels more like a townhouse or detached home with added convenience.

Which One Is Right for You?

Ask yourself:

• Do I want minimal upkeep? Traditional condos might be your best bet.

• Do I want a yard, garage, or more space? A freehold condo gives you more flexibility.

• Do I mind paying higher monthly fees for convenience? That’s the tradeoff with a traditional condo.

• Do I want to avoid shared indoor spaces? Freehold condos have less interaction with neighbours.

If you're someone who loves the look of a freehold home but hates shovelling snow or paving driveways, a freehold condo might feel like a perfect compromise.

Are Freehold Condos a Good Investment in Ottawa?

Freehold condos can be a smart investment, especially in suburban growth areas where demand for low-maintenance housing with more space is rising. They're also appealing to:

• Downsizers who don’t want a full house anymore

• Young professionals who want modern finishes but a more private feel

• Investors looking for easier tenant management

However, traditional condos in the downtown core—like in Centretown, Sandy Hill, or ByWard Market—still tend to offer stronger appreciation if location is your #1 priority.

Final Thoughts

Whether you're buying your first condo in Ottawa or looking to downsize, understanding the difference between freehold and traditional condos can save you from surprise fees, responsibilities, or lifestyle mismatches.

Still unsure? That’s what we’re here for. At New Purveyors, we specialize in helping Ottawa condo buyers and sellers navigate these choices with clarity. Reach out anytime—we’ll help you find the right fit, no matter your goals.

What Every First-Time Buyer in Ottawa Should Know Before House Hunting

Buying your first home is exciting—it’s a huge milestone and a chance to create a space that’s truly yours. But in Ottawa’s 2025 market, being prepared is key to making sure your first home purchase is a smart one.

With a little strategy and the right mindset, first-time buyers can find great opportunities—even in a competitive market. Here’s what you need to know before jumping in.

1. Your First Home Might Not Be Your Forever Home—And That’s Okay

It’s easy to picture your first home as the one—the dream space that checks every box. But the best way to approach house hunting? Think about what you need now, and what will set you up for the future.

✔ Prioritize location, layout, and structure—cosmetic upgrades can come later.
✔ Consider what will help build equity and resale value if you want to move in a few years.
✔ A home that fits 80% of your wishlist is often a great investment.

💡 How to Stay Flexible: Instead of focusing on what’s missing, look at a home’s potential. Some of the best first-time buys are the ones where you can add value over time.

2. Owning a Home Comes With More Than Just a Mortgage—So Plan Ahead

One of the best things you can do before buying? Get a full picture of what your monthly costs will be. Owning a home isn’t just about the purchase price—it’s about making sure your budget is comfortable after you move in.

Here’s what to plan for:
✔ Property taxes – These vary by neighbourhood and can add $300–$800/month
✔ Utilities – Heating, electricity, and water bills depend on the home’s size and efficiency
✔ Home insurance – Typically $100–$200/month
✔ Maintenance – Budget at least 1% of the home’s value per year for repairs
✔ Condo fees (if applicable) – These cover maintenance, but can increase over time

💡 How to Stay Prepared: Ask for past utility and property tax bills to estimate costs before you buy. Small expenses add up, but knowing what to expect makes budgeting easier.

3. The Best Homes Sell Fast—So Being Ready Gives You an Edge

In some neighbourhoods, well-priced homes don’t stay on the market for long. That doesn’t mean you have to rush a decision, but it does mean being prepared will help you land the right home when you find it.

✔ Get pre-approved before starting your search—this helps you act quickly.
✔ Know what you’re looking for so you can confidently make an offer.
✔ Work with a great agent who knows the market and can guide you through the process.

💡 How to Stay Confident: Buying your first home is a big decision, but with the right preparation, you’ll feel ready to make a smart move when the perfect opportunity comes along.

4. The Right Neighbourhood is Just as Important as the Right Home

The best home for you isn’t just about the layout and finishes—it’s also about where it’s located.

Think about:
✔ Commute times – Whether by car, transit, or bike, consider how daily travel fits your routine.
✔ Walkability – Do you want to be near coffee shops, grocery stores, or parks?
✔ Future growth – Some of Ottawa’s fastest-growing areas offer great value now and even better resale potential later.

💡 How to Choose Wisely: Spend time in the neighbourhoods you’re considering—visit at different times of day, test out the commute, and get a feel for the community.

5. Your First Home is a Step Toward Bigger Goals

Buying a home is a major milestone, and it’s about more than just where you live today—it’s about setting yourself up for the future. Whether it’s building equity, having a space that truly feels like yours, or creating long-term stability, this is an exciting first step.

💡 How to Feel Confident: Surround yourself with the right team—a great mortgage broker, a knowledgeable agent, and experts who can guide you through the process.

Final Thoughts: You’re More Ready Than You Think

Yes, Ottawa’s real estate market is competitive—but with the right knowledge, preparation, and guidance, buying your first home is absolutely possible.

✔ Know your budget and plan beyond the mortgage.
✔ Be ready to act when you find the right home.
✔ Think long-term—your first home is just the beginning.

Thinking about buying? Let’s chat. We’ll help you navigate the process so you can find a home that fits your life and your future.

The Hidden Downsides of Buying a Home You Love Too Much

Buying a home is an emotional experience. You find the one—the perfect kitchen, the dream backyard, the way the sunlight hits just right—and suddenly, you have to have it.

And that’s where buyers get into trouble.

When emotions take over, logic goes out the window. You start justifying a price that’s too high, ignoring red flags, and stretching your budget in ways that could hurt you down the road.

Falling in love with a home isn’t a bad thing—but getting too attached can be. Here’s what happens when emotions drive your buying decision, and how to make sure your dream home doesn’t turn into a nightmare.

1. You Pay More Than You Should

Love makes people do crazy things—like bidding way over asking because you “just have to have it.”

✔ You justify paying more because “we’ll live here forever.”
✔ You ignore your original budget because “it’s only an extra $50,000” (which is way more on a mortgage).
✔ You get caught in a bidding war and convince yourself, “What’s another $10,000?” (It adds up fast.)

Why it’s a problem: A home is a financial decision first. Overpaying now could make it harder to build equity, resell later, or afford other life goals (travel, kids, retirement).

💡 How to avoid it: Set your max budget before you start looking. When emotions kick in, remind yourself that other great homes exist.

2. You Overlook Expensive Issues

When you’re in love with a house, your brain downplays the flaws.

• The roof needs replacing? “It’s fine for a few more years.”

• The inspection found plumbing issues? “We’ll deal with it later.”

• The flooring is a little warped? “That’s just character.”

These things add up. Minor fixes can turn into major costs—especially in older homes.

Why it’s a problem: Buyers often underestimate repair costs. A small issue might seem manageable, but structural, plumbing, or electrical problems can cost thousands to fix.

💡 How to avoid it: Always get an inspection. Listen to your inspector, not your emotions. If repairs are needed, negotiate with the seller—or be prepared to walk away.

3. You Settle for a Bad Location

That house in the perfect neighbourhood? Great.

That house in a less-than-ideal neighbourhood that you’re convincing yourself is fine? Not so great.

Location isn’t just about where you live—it’s about resale value, commute times, school districts, and long-term appreciation.

🚨 Red flags buyers ignore when they’re emotionally attached:

• “It’s kind of a long commute, but I don’t mind.” (You will after six months.)

• “The street is a little busy, but I’ll get used to it.” (Try sleeping through rush hour noise.)

• “The nearby construction won’t last forever.” (But how long is too long?)

Why it’s a problem: You can renovate a house, but you can’t fix a bad location. A dream home in the wrong place can be a long-term headache.

💡 How to avoid it: Drive through the area at different times of day. Test the commute. Research future developments. A home should fit your life—not the other way around.

4. You Ignore Resale Value

It’s easy to say, “We’ll live here forever.” But the reality? Most people move within 7–10 years.

If you’re buying an unusual home (think: odd layout, unique features, very specific design choices), it might be harder to sell later.

🔍 Signs a home might have resale issues:
❌ Only one bedroom upstairs, two in the basement (awkward layout).
❌ The house backs onto a major road or commercial building (noise issues).
❌ No parking in a neighbourhood where street parking is a nightmare (future buyers will care).
❌ The home is overly customized (think: purple kitchen cabinets or built-in wine taps).

Why it’s a problem: You might love it, but future buyers might not. A home that’s tough to sell could sit on the market longer—or force you to lower your price when it’s time to move.

💡 How to avoid it: Buy with future buyers in mind. Look for universal appeal—a good layout, functional space, and classic design.

5. You Forget About Future Expenses

When buyers fall in love, they tend to only think about the upfront cost. But homeownership is more than your mortgage payment.

Hidden costs buyers forget to budget for:
✔ Property taxes (Ottawa’s rates vary depending on location).
✔ Utility bills (Older homes = higher heating and cooling costs).
✔ Maintenance (That big backyard = hours of mowing).
✔ Condo fees (Low at first? Expect increases over time).

Why it’s a problem: Just because you can afford the mortgage doesn’t mean you can comfortably afford the house.

💡 How to avoid it: Get past utility bills from the seller. Factor in maintenance costs—a bigger home means more cleaning, repairs, and upkeep.

How to Keep Your Emotions in Check When Buying a Home

Let’s be real—it’s impossible to remove emotions from home buying. And you should love where you live. But balance is key.

✔ Set a budget before house hunting. Stick to it.
✔ Get a second opinion. A realtor, friend, or family member can help keep you grounded.
✔ Don’t skip the inspection. No exceptions.
✔ Think long-term. Will this home still fit your needs in 5+ years?
✔ Be ready to walk away. No house is worth financial stress or regret.

Final Thoughts: Your Dream Home Shouldn’t Become Your Biggest Mistake

Buying a home is one of the biggest financial moves you’ll ever make. It’s okay to get excited—but make sure excitement doesn’t lead to costly mistakes.

A great home isn’t just about how it looks—it’s about how well it fits your lifestyle, budget, and long-term plans.

Thinking about buying in Ottawa? Let’s find a home you love—without letting emotions take over.

The Ultimate Guide to Buying a New Build Condo in Ottawa in 2025

Buying a brand-new condo in Ottawa is exciting—no previous owners, modern finishes, and the chance to move into a home that’s completely your own. But if you think buying pre-construction is as simple as picking a unit and waiting for it to be built, think again.

New build condos come with a different set of rules, risks, and rewards compared to resale units. If you’re considering buying pre-construction in 2025, here’s what you need to know to make the right decision.

1. The Reality of Pre-Construction Timelines

Let’s start with the biggest thing that catches buyers off guard: delays.

Developers love to market a sleek new condo with an estimated move-in date, but in most cases, that date will get pushed back—sometimes by months, sometimes by years.

Why do delays happen?

• Labour shortages – Ottawa’s construction industry is stretched thin.

• Supply chain issues – Some materials still take longer to arrive post-pandemic.

• Permitting and inspections – The city can slow things down depending on the project.

• Financing problems – If a developer doesn’t sell enough units early on, lenders may stall construction.

💡 Pro Tip: Always assume the original completion date is optimistic. If you need to move within a strict timeline, a pre-construction condo may not be your best bet.

2. Deposits & Payment Structure: What to Expect

Unlike a resale condo, where you typically put 5%–20% down, new build condos require deposits in stages.

A common structure looks like this:
✔ 5% at signing
✔ 5% after 30 days
✔ 5% after 90 days
✔ 5% at occupancy

Some developers offer more flexible payment plans, especially for first-time buyers. If you’re short on cash but want to secure a unit, look for a builder offering extended deposit structures.

💡 Pro Tip: Your deposit is held in trust and protected by Ontario’s Tarion Warranty Program, but always work with a lawyer to review the contract before you sign.

3. What You See Isn’t Always What You Get

That stunning model suite you toured? That’s the developer’s best work. Your actual unit might look a little different.

Common surprises include:
❌ Standard finishes that don’t match what was shown in the showroom
❌ Missing light fixtures or outlets in unexpected places
❌ Layouts that slightly shift due to building constraints

Builders will offer upgrade packages, but those costs can add up quickly. Even basic changes like switching to quartz countertops or upgrading flooring can cost thousands.

💡 Pro Tip: Get everything in writing. If you expect soft-close cabinets, higher ceilings, or upgraded fixtures, make sure they’re in your contract—not just something the sales rep said.

4. Interim Occupancy: You Pay Before You Own

One of the most confusing parts of buying a pre-construction condo is interim occupancy.

This happens when the building is ready for people to move in, but the condo isn’t officially registered yet. During this time, you don’t actually own your unit—instead, you pay the developer a fee to live there (basically like rent).

Interim occupancy can last several months before the final closing, meaning you could be paying for a condo you don’t technically own yet.

💡 Pro Tip: Budget for interim occupancy costs and ask upfront how long it’s expected to last.

5. Hidden Costs Buyers Forget About

Beyond your purchase price, there are a few extra costs that can sneak up on new build buyers:

✔ Development Charges & Closing Costs – New builds come with extra fees that aren’t part of resale transactions. These can be thousands of dollars and are often capped (or should be—make sure your contract specifies a limit).

✔ HST on Investment Properties – If you’re buying a condo as an investment, you may have to pay HST upfront (though you can apply for a rebate).

✔ Condo Fee Estimates Are Just That—Estimates – Developers often list low condo fees to attract buyers, but expect them to increase once the building is fully occupied.

💡 Pro Tip: Negotiate closing cost caps. Many buyers don’t realize they can limit how much they’ll pay in extra fees—make sure this is in your agreement.

6. Resale Value: Are You Actually Getting a Deal?

Not all new build condos appreciate equally. Some buildings skyrocket in value after completion, while others struggle to compete with resale units when it comes time to sell.

✔ Buildings in high-demand locations (Westboro, Centretown, Little Italy) tend to appreciate better.
✔ Boutique buildings with unique architecture hold value better than cookie-cutter towers.
✔ Well-managed condos with lower fees are always in demand.

💡 Pro Tip: Research resale values of past projects by the same developer—if their last building isn’t holding its value, think twice before buying.

7. Assignment Sales: Selling Before You Close

If you buy pre-construction but change your mind before closing, your only option is to sell your contract in an assignment sale—basically, selling the unit before it’s built.

✔ Some builders allow assignments, some don’t.
✔ You may have to pay a fee to the developer to sell your unit.
✔ You’ll be competing with other assignment sellers.

With resale condo prices rising in 2025, some buyers are making a profit selling assignments, but it depends on the project and market conditions.

💡 Pro Tip: If you think you might need to sell before closing, make sure your contract allows for an assignment sale—not all do.

Is Buying a New Build Condo in Ottawa a Smart Move in 2025?

It depends on your timeline, budget, and risk tolerance.

✅ Buy pre-construction if:
✔ You want a brand-new home with modern finishes.
✔ You have flexibility in your move-in date.
✔ You can afford to wait for potential delays.
✔ You’re looking for a long-term investment in a growing area.

❌ Consider a resale condo instead if:
✔ You need certainty on move-in timing.
✔ You want to avoid unexpected closing costs.
✔ You prefer to see exactly what you’re buying.

New build condos can be a great investment—but only if you understand the risks and know what to expect.

Thinking about buying a pre-construction condo in Ottawa? Let’s talk. The right strategy can help you find a unit that fits your lifestyle and investment goals.

The Biggest Condo Buying Mistakes in Ottawa (And How to Avoid Them in 2025)

Buying a condo in Ottawa is exciting, but it’s also one of the biggest financial decisions you’ll make. And while condos can be a smart investment—whether for living or renting—there are plenty of ways to get it wrong.

I’ve seen buyers make the same mistakes over and over again, and in 2025, with the market shifting, avoiding these pitfalls is more important than ever. If you’re thinking about buying a condo, here’s what NOT to do.

Mistake #1: Assuming the Lowest Condo Fees Are the Best

No one loves paying condo fees. But if you’re filtering your search by “lowest fees first,” you might be setting yourself up for a financial nightmare.

Here’s why:

• Low fees don’t always mean low costs. If a building isn’t collecting enough in fees, it may not have enough money for maintenance, meaning surprise special assessments (aka sudden bills to cover repairs).

• Newer buildings often start with artificially low fees. Developers set them low to attract buyers, but within a few years, they almost always go up.

• Older buildings with higher fees aren’t always bad. Some of the best-run buildings in Ottawa have higher fees because they properly fund maintenance and repairs—saving you from big, unexpected expenses down the line.

🚨 How to Avoid This Mistake: Always review the condo’s status certificate before buying. This document will tell you how healthy the building’s finances are and whether there’s a risk of fees skyrocketing.

Mistake #2: Thinking All Condos Appreciate the Same Way

Some buyers assume that any condo in Ottawa will increase in value over time. That’s just not true.

Condos appreciate differently than freehold homes, and in 2025, it’s more important than ever to be strategic. Some buildings will see great appreciation—others will stagnate or even lose value.

The difference?

✔ Location matters. Condos in walkable areas with strong transit options (Westboro, Little Italy, The Glebe, etc.) tend to hold value better.
✔ Building reputation is huge. If a building has poor management, high turnover, or issues with maintenance, buyers will avoid it—hurting resale value.
✔ Layouts play a role. Units with smart floor plans, good natural light, and functional storage will always be more desirable than awkward or dark units.

🚨 How to Avoid This Mistake: Research resale history in a building before buying. If units have been sitting on the market for months or reselling at a loss, that’s a red flag.

Mistake #3: Overlooking the Reserve Fund

Would you buy a house with a collapsing roof? Probably not. But buying a condo in a building with a bad reserve fund is just as risky.

The reserve fund is the building’s emergency savings account. If it’s underfunded, guess who’s paying for repairs? You and the other owners.

🚨 How to Avoid This Mistake:

• Check the reserve fund study (found in the status certificate). It shows how much money is in the fund and whether it’s enough to cover future expenses.

• Ask about special assessments. If a building has had surprise bills in the past, it could happen again.

• Avoid buildings with deferred maintenance. If repairs have been put off for too long, it’s only a matter of time before the costs catch up.

Mistake #4: Not Considering Future Development

You love the view from your condo? So does the developer planning to build a 40-storey tower right next door.

Future construction can impact:
❌ Your view
❌ Noise levels
❌ Traffic and congestion
❌ Even property values (depending on what’s being built)

🚨 How to Avoid This Mistake:

• Check the city’s development plans. Ottawa has several large-scale projects in the works—make sure your dream view isn’t about to be blocked.

• Look at what’s happening nearby. If there are vacant lots or old buildings slated for redevelopment, find out what’s planned.

• Ask your realtor. We have access to city planning documents and can tell you what’s coming.

Mistake #5: Ignoring Parking (Even If You Don’t Drive)

You don’t have a car? Cool. But skipping a parking spot could still be a mistake.

Why? Because resale value matters. Many buyers (and renters) in Ottawa still want parking, and in some buildings, the lack of a spot can make a unit much harder to sell.

That being said, not all parking is equal. A well-located indoor spot is worth more than an outdoor space. A right-sized space (not crammed into a corner) is more desirable. And in some buildings, parking spaces are selling for upwards of $60,000—so make sure you’re not overpaying.

🚨 How to Avoid This Mistake: Even if you don’t need parking now, consider resale demand. If parking is limited in the building, having a spot could give you an edge when selling.

Mistake #6: Thinking Pre-Construction is a Guaranteed Win

Pre-construction condos used to be a no-brainer: buy early, wait a few years, and watch the value go up. In 2025, that’s not always the case.

Why?

• Construction costs are rising, meaning developers are pricing units higher.

• Some projects are delayed or canceled, leaving buyers in limbo.

• The resale market offers great options—why wait years when you can buy a move-in-ready condo now?

That’s not to say pre-construction is bad. But you need to be strategic.

🚨 How to Avoid This Mistake:
✔ Only buy from a reputable developer. Some developers have a history of delays and budget overruns—know who you’re dealing with.
✔ Read the fine print. What happens if your unit is delayed by two years? Can you assign (sell) the unit before closing?
✔ Compare with resale options. In some cases, a move-in-ready unit makes more financial sense than waiting for a pre-construction unit.

Final Thoughts: Buying a Condo in 2025? Do It Right.

Buying a condo can be a great investment—if you do it the right way. That means:

✔ Researching condo fees and financials
✔ Choosing a unit with long-term value
✔ Being aware of future development
✔ Thinking about resale potential
✔ Understanding the risks of pre-construction

And most importantly? Working with an agent who knows Ottawa’s condo market inside and out. If you’re thinking about buying, let’s chat.

Ottawa’s Condo Market in 2025: The Smart Buyer’s Playbook

The Ottawa condo market in 2025 is not the same as it was even a year ago. Interest rates are shifting, rental demand is at an all-time high, and buyers are getting savvier. Whether you’re a first-time buyer, an investor, or looking to downsize, buying a condo this year requires a different approach than in the past.

Want to get ahead of the market? Here’s your 2025 condo buyer’s playbook.

1. Get Smart About Condo Fees (Hint: They’re Not the Enemy)

Condo fees are one of the most misunderstood aspects of buying a unit. Yes, they cost money. No, they’re not a scam.

Here’s the deal: condo fees cover maintenance, amenities, and the building’s reserve fund (a savings account for major future repairs). Instead of panicking at a higher monthly fee, ask:

✔ What’s included? Some condos bundle heat, water, and even internet into the fee. Others don’t.
✔ How’s the reserve fund? A well-funded building is less likely to hit owners with surprise fees.
✔ What’s the trend? Have fees been stable, or have they jumped significantly year-over-year?

The biggest mistake buyers make? Choosing a unit with low condo fees without checking why. Sometimes, it just means the building is new. Other times, it means the board is deferring maintenance—which will catch up to you later in the form of special assessments (aka unexpected bills you can’t ignore).

2. Skip the “Starter Condo” Mindset

A decade ago, the game plan was simple: buy a small, affordable condo, build some equity, and upgrade to a house. But in 2025? That’s not always realistic.

✔ Ottawa’s detached home prices are still high
✔ Interest rates make upgrading trickier
✔ More buyers are treating condos as long-term homes

This means it’s worth thinking beyond a traditional "starter" mindset. Instead of buying the cheapest possible unit and planning to sell in a few years, consider:

• Space: Can you actually live here for 5+ years comfortably?

• Layout: Is it efficient, or will you outgrow it too quickly?

• Resale demand: Will this unit still be attractive to buyers down the road?

Long story short: Don’t just buy a condo for right now. Buy one that makes sense for the long haul.

3. Location Still Reigns Supreme (But It’s Not Just About Downtown)

Ottawa’s condo market used to be all about Centretown and the ByWard Market. Those areas are still popular, but buyers in 2025 have expanded their search. Some of the most in-demand condo spots now include:

✔ Westboro & Hintonburg: Trendy, walkable, and full of life
✔ Little Italy & Chinatown: Fast-growing with solid transit options
✔ Lansdowne & The Glebe: Vibrant, packed with restaurants and entertainment
✔ New Edinburgh & Beechwood: A hidden gem for those who want quiet luxury

What do these areas all have in common? They offer more than just a place to live. They’re walkable, full of amenities, and likely to hold value even if the market shifts.

4. Investors Are Back (and That Changes Things for Buyers)

For a while, high interest rates kept investors on the sidelines. In 2025, they’re coming back—and that’s affecting condo availability.

✔ Short-term rental bans in some buildings are making long-term rentals more appealing
✔ Rental demand is surging, with Ottawa’s population growing and vacancy rates dropping
✔ Investors are targeting high-demand buildings with strong rental potential

For regular buyers, this means competition. If you’re buying a condo this year, expect investors to be eyeing the same units—especially well-located, one-bedroom layouts with parking.

Want to stay ahead? Get pre-approved, work with an agent who knows the market, and be ready to move quickly on a great unit.

5. Pre-Construction? Only If You Know What You’re Doing

Pre-construction condos used to be a hot investment. But in 2025? It’s a mixed bag.

✔ Some projects have seen delays and price adjustments
✔ Rising construction costs have made some units less profitable
✔ Resale condos offer more predictability and immediate occupancy

That doesn’t mean you should never buy pre-construction—it just means you need to be strategic. Before signing a contract, ask:

✔ What’s the completion timeline? (And add 6-12 months for potential delays)
✔ What’s the deposit structure? (Some developers offer flexible options)
✔ Is there an assignment clause? (In case you want to sell before it’s built)

For most buyers in 2025, a solid resale condo is a safer bet. But if you’re willing to wait and understand the risks, pre-construction can still be a great option.

6. The Right Realtor Can Save You Thousands

It’s tempting to scroll listings online, find a unit you like, and contact the listing agent directly. But here’s the thing:

That agent works for the seller—not you.

A good buyer’s agent will:

✔ Help you spot red flags in buildings
✔ Negotiate the best deal (not just the asking price, but also conditions)
✔ Guide you through the condo docs to avoid future headaches

In a competitive market, having someone in your corner makes a difference.

2025 is a Great Year to Buy—If You Do It Right

Buying a condo in Ottawa in 2025 isn’t about jumping on the first unit you see. It’s about being smart, strategic, and choosing a home that fits your lifestyle and your long-term financial goals.

• Look beyond just price—consider condo fees, location, and future livability

• Treat your condo like a home, not just a stepping stone

• Be ready for competition, especially from investors

• Know when pre-construction makes sense (and when it doesn’t)

And most importantly? Work with someone who actually knows the market.

If you’re thinking about buying a condo this year, let’s chat. The right strategy can make all the difference.

Why Buying a Condo in Ottawa in 2025 Is a Smart Move (Even If You’re Hesitant)

Ottawa’s condo market has been through its ups and downs over the last few years. Prices surged, then balanced out. Interest rates climbed, then fluctuated. Remote work reshaped how and where people wanted to live. But in 2025, one thing is clear: buying a condo in Ottawa is still one of the best moves you can make—whether you’re a first-time buyer, an investor, or just tired of paying rent.

Here’s why.

1. The Cost of Renting vs. Owning Is Still in Your Favour

People love to say, “Buying is always better than renting,” but that’s not always true. In some cities, rent is so much lower than a mortgage that it makes sense to stay put as a tenant.

That’s not the case in Ottawa.

Rents have climbed to record highs, and while mortgage rates are still a factor, the gap between renting and owning a condo has narrowed. If you’re paying $2,500/month in rent for a one-bedroom, that’s $30,000 per year gone. In many cases, that’s not far off from what you’d be paying in a mortgage for a comparable unit—except you’re actually building equity instead of funding your landlord’s retirement.

Yes, buying comes with upfront costs (like a down payment and closing fees), but if you’re planning to stay put for at least five years, owning could still work in your favour financially.

2. Condos Offer Low-Maintenance Living in a High-Interest World

A big concern in 2025 is affordability. With interest rates still above pandemic-era lows, freehold homes can feel out of reach.

Condos? They’re often the more affordable entry point into homeownership. Not only do they come with a lower price tag than detached homes, but they also eliminate the surprise maintenance costs that catch homeowners off guard.

• No roof replacements

• No unexpected plumbing disasters

• No weekends spent shoveling snow or mowing the lawn

Instead, condo fees cover these responsibilities, allowing you to budget with more predictability. And as long as you do your research into well-managed buildings, condo fees won’t be the nightmare people love to make them out to be.

3. The Right Buildings Are Holding Their Value (and Then Some)

There was a time when people worried condos wouldn’t appreciate as well as houses. That’s not the case in Ottawa’s best buildings.

Newer, well-located condos with solid management are still seeing steady demand. Why? Because there’s a massive influx of people who need housing—students, young professionals, downsizers, and investors looking for stable long-term returns.

Some of the top buildings in Ottawa have even increased in value faster than freehold homes in the last few years. If you’re smart about where you buy, your investment isn’t just safe—it’s likely to grow.

4. The Urban Shift Is Back—With a Twist

During the peak of remote work, suburban real estate exploded. People wanted space, home offices, and backyards. But now that hybrid work is the norm, living in the city is making a comeback.

That said, it’s not just about any downtown condo. Buyers in 2025 are looking for:

✔ Proximity to transit (with Ottawa’s LRT finally becoming more reliable)
✔ Walkability to restaurants, cafes, and parks
✔ Modern amenities like coworking spaces, fitness centres, and rooftop terraces
✔ Efficient layouts that maximize livable space

The best condo buildings aren’t just places to sleep—they’re places to live. And in a city where single-family homes in walkable neighbourhoods are expensive, condos offer a lifestyle that feels both convenient and financially attainable.

5. The Resale Market Is Gaining Momentum

One of the biggest hesitations people have about buying a condo is resale value. But here’s what’s happening in 2025:

• More buyers are priced out of freehold homes and turning to condos as a permanent option

• Investors are seeing the high rental demand and coming back into the market

• Older buildings with spacious layouts and reasonable condo fees are attracting downsizers

Unlike pre-construction, where delays and unpredictable pricing have made people wary, the resale condo market in Ottawa is seeing solid, steady growth. If you buy a unit that checks the right boxes (good location, well-managed building, reasonable fees), you’ll have no trouble selling it down the road.

Final Thoughts

If you’ve been on the fence about buying a condo in Ottawa, 2025 is shaping up to be a great time to make your move. The rental market is expensive, condos are still relatively affordable, and demand is steady. Plus, the right buildings are proving to be strong long-term investments.

At the end of the day, real estate isn’t just about crunching numbers—it’s about how you want to live. If you love the idea of an urban lifestyle, minimal maintenance, and locking in your housing costs instead of dealing with unpredictable rent hikes, buying a condo might be your best move yet.

And if you need help finding the right one? You know where to find us.

Ottawa Real Estate Market Update: February 2025

As we step into March 2025, it's time to take a closer look at how Ottawa's real estate market performed in February. With steady numbers across key metrics, the market remains stable, though shifting dynamics hint at potential changes in the coming months.

Key February 2025 Market Stats

• 1,668 New Listings (+4.8% year-over-year)

• 3,735 Active Listings

• $719,800 Benchmark Price for Single-Family Homes (+1.3% year-over-year)

• $459,300 Benchmark Price for Apartments (+4.5% year-over-year)

• $669,945 Average Home Price Sold in February (+1.4% year-over-year)

Market Trends and Insights

1. Inventory Growth and a Balanced Market

The number of new listings increased by 4.8% compared to February 2024, signaling a slight rise in seller confidence. With 3,735 active listings, buyers had more choices than in recent months. This increase in inventory is helping the Ottawa market maintain a balanced environment, preventing rapid price surges while still supporting steady growth.

2. Prices Show Modest Gains

Despite some market hesitation, Ottawa's real estate prices have increased year-over-year:

• The benchmark price for single-family homes rose by 1.3% to $719,800.

• The benchmark price for apartments increased by 4.5%, reaching $459,300.

• The average home sale price was $669,945, up 1.4% compared to February 2024.

These price gains indicate sustained demand in Ottawa’s housing market, even as external economic factors create some uncertainty.

3. Buyer Activity and Market Conditions

While inventory levels have increased, sales activity in February dipped slightly compared to last year. This could be attributed to several factors:

• Seasonality: February is traditionally one of the slower months for real estate, as colder weather and winter conditions keep many buyers on the sidelines.

• Mortgage Rate Expectations: Many buyers are closely watching for potential interest rate cuts in 2025. The Bank of Canada has hinted at possible rate adjustments later this year, which could drive increased buyer activity in the spring and summer months.

• Economic Uncertainty: Global and national economic concerns, particularly regarding the USA’s current political and economic climate, may be causing some buyers to delay their decisions.

How External Factors Could Influence Ottawa’s Market in 2025

Interest Rates and Affordability

The Bank of Canada’s interest rate policies remain a key driver for the real estate market. If rate cuts materialize later this year, affordability could improve for many buyers, leading to a surge in demand. Buyers who have been waiting on the sidelines may enter the market, increasing competition, particularly in desirable neighbourhoods.

Impact of the U.S. Economy

There has been growing uncertainty about the U.S. economy, with potential tariff changes and economic shifts influencing consumer confidence. However, according to the Canadian Chamber of Commerce, the short-term impact of tariffs on Ottawa’s real estate market should be minimal, as exports to the U.S. represent a small percentage of the city's overall economy. Ottawa's market tends to be more resilient to global economic fluctuations, thanks to its strong government employment sector and stable local industries.

Spring Market Expectations

Looking ahead, as we transition into the spring market, we anticipate a rise in buyer activity due to:

• Increased Inventory: More listings are expected to hit the market, providing more choices for buyers.

• Warmer Weather: Historically, spring is a peak season for real estate activity.

• Potential Rate Cuts: Lower mortgage rates could encourage more first-time buyers and investors to enter the market.

What This Means for Buyers and Sellers

For Buyers

• If you’re looking to buy in 2025, now is a great time to monitor interest rates and act before competition intensifies in the spring and summer months.

• With inventory levels rising, you may have more negotiating power in certain price brackets, particularly for homes that have been sitting on the market for longer.

For Sellers

• If you plan to sell, preparing your home for the spring rush could be beneficial. Ensuring proper staging, pricing competitively, and working with a knowledgeable agent can help you capitalize on increasing buyer activity.

• With steady price growth, sellers can remain confident that demand in Ottawa remains strong.

Final Thoughts

Ottawa's February 2025 real estate market remained steady and stable, with price growth and rising inventory indicating a balanced environment. While some buyers are waiting for interest rate cuts, the overall outlook for the Ottawa market remains positive as we head into the spring.

Vineet Kauden

vineet@mattrichling.com

Interested in learning more? Reach out via phone or email!

Ottawa Condo Market Statistics - February 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 February 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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Ottawa Real Estate Market Update: February 2025 Trends and Insights

The Ottawa real estate market continues to evolve, with February 2025 showing a steadying trend despite ongoing economic shifts. While sales activity has slowed, home prices have remained stable, and inventory levels have risen significantly. If you're considering buying or selling in Ottawa, understanding these market dynamics is crucial.

Here's a comprehensive breakdown of the latest market data from the Ottawa Real Estate Board (OREB) to help you stay informed.

Key Takeaways from February 2025 Ottawa Real Estate Market

• 809 homes sold, reflecting a 10.2% decline from February 2024.

• 1,668 new listings, marking a 4.8% increase from last year.

• 3,735 active listings, a 61.4% increase year-over-year.

• Benchmark prices:

  • $719,800 for single-family homes (+1.3% YoY)

  • $459,300 for apartments (+4.5% YoY)

  • $438,000 for townhouses (-11.6% YoY)

• 19 days on market, indicating a relatively quick pace of sales.

• 4.6 months of inventory, signaling an increase in available homes.

Let's dive into the details of these trends and what they mean for buyers, sellers, and investors in Ottawa.

Home Sales in Ottawa: Slower but Steady

February 2025 saw 809 home sales, a 10.2% drop from last year. This figure sits 19.1% below the five-year average and 15.4% below the 10-year average, reflecting a more cautious approach from buyers amid economic and interest rate uncertainties.

However, despite the dip in sales, Ottawa’s market remains resilient, with prices holding steady and inventory rising, offering more options for prospective buyers.

Home Prices in Ottawa: Stability Amid Market Adjustments

MLS® Home Price Index (HPI) Benchmarks

• Single-Family Homes: $719,800 (+1.3% YoY)

• Apartments: $459,300 (+4.5% YoY)

• Townhouses: $438,000 (-11.6% YoY)

• Overall Composite Benchmark: $658,300 (+4.4% YoY)

The overall benchmark price rose 4.4% compared to February 2024, showing that despite fewer sales, home values remain strong.

Notably, townhouses experienced an 11.6% price drop, which could indicate shifting demand away from this segment, possibly due to affordability concerns or buyer preferences favoring single-family homes and apartments.

The average home sale price was $669,945, up 1.4% from last year.

Ottawa Housing Inventory and New Listings: More Options for Buyers

Key Inventory Stats:

• 1,668 new listings entered the market in February, up 4.8% YoY.

• 3,735 active listings were available, a 61.4% increase from February 2024.

• Months of inventory rose to 4.6, compared to 2.6 last year.

This increase in inventory means buyers have more choices than in previous years. However, it also indicates a shift toward a more balanced market, where sellers may need to be strategic with pricing and preparation.

Months of Inventory and Market Balance

Looking at months of inventory (MOI), which measures how long it would take to sell current listings at the present sales pace:

• 2025 MOI: 4.8 months (a notable increase from 2.9 months in 2024).

• Historically, Ottawa’s market has ranged from 0.7 MOI in 2021 (extreme seller’s market) to over 6 MOI in 2016 (buyer’s market).

While 4.8 months still indicates a balanced market, it's approaching buyer-friendly conditions, giving purchasers more negotiating power.

What’s Influencing the Ottawa Real Estate Market?

According to OREB President Paul Czan, multiple factors are shaping buyer and seller behavior:

• Interest Rates & the Bank of Canada: Market uncertainty remains, with potential interest rate cuts influencing affordability.

• Economic Factors: Tariffs, inflation, and cost-of-living concerns are impacting purchasing power.

• Spring Market Expectations: As we enter spring, buyer activity is expected to increase, particularly if interest rates decline.

How Does This Affect Buyers and Sellers?

For Buyers:

• More listings mean more choice—this is great news if you've been struggling to find the right home.

• Prices remain stable, so waiting for a major price drop may not be the best strategy.

• Interest rates may drop in the coming months, which could improve affordability.

For Sellers:

• Homes are selling quickly, averaging 19 days on the market, meaning demand still exists.

• More competition means strategic pricing is crucial—overpricing could lead to longer time on the market.

• Presentation matters—staging, marketing, and pricing strategies will make a difference.

Final Thoughts: Is Now a Good Time to Buy or Sell in Ottawa?

With rising inventory, stable prices, and the potential for rate cuts, Ottawa’s real estate market presents opportunities for both buyers and sellers. If you're thinking about buying, selling, or investing, staying informed on these market trends will help you make the best decision.

Need Expert Guidance?

Navigating Ottawa’s real estate market requires experience and strategy. Whether you're looking to buy, sell, or invest, the New Purveyors team is here to help. Contact us today to discuss your real estate goals!

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.

Ottawa Condos: Everything You Need to Know Before Buying in 2025

Ottawa Condos: Everything You Need to Know Before Buying in 2025

Condos in Ottawa are an attractive option for first-time buyers, downsizers, and investors looking for modern, low-maintenance living. But before you buy, there are some key things to consider that can impact your long-term happiness and financial return. Whether you're eyeing a trendy downtown condo or a quieter suburban unit, this guide will help you make an informed decision.

Why Buy a Condo in Ottawa?

Condos offer several advantages over freehold homes, making them a popular choice in Ottawa. They tend to be more affordable than single-family houses, providing a budget-friendly entry point into the real estate market. They also require less maintenance since services like snow removal and landscaping are included in condo fees. Many Ottawa condo buildings come with desirable amenities such as fitness centres, rooftop terraces, and concierge services. Plus, condos allow buyers to live in prime locations like Centretown, Westboro, and the ByWard Market without the higher costs of a detached home.

Top Neighbourhoods for Condos in Ottawa

Different areas in Ottawa offer distinct condo living experiences. In Downtown and Centretown, condos are ideal for professionals and students who want to be within walking distance of offices, restaurants, and the LRT. Notable buildings in this area include Claridge Icon, 101 Queen (reResidences), and Tribeca. The Glebe and Old Ottawa South offer a mix of heritage charm and modern convenience, with condos like Echo, Lansdowne Condos, and Canal Lofts providing easy access to Lansdowne Park and the Rideau Canal.

For those looking for a more eclectic and trendy vibe, Westboro and Hintonburg are home to boutique shops, cafes, and waterfront paths. Popular buildings here include The Eddy, 111 West, and Q West. Meanwhile, if you prefer more space and a quieter atmosphere, suburban areas like Kanata and Barrhaven offer larger condos at more affordable prices. Buildings like Monterey (Kanata Lakes) and Ampersand (Barrhaven) provide great options for those looking for a balance of city convenience and suburban comfort.

What to Look for in an Ottawa Condo

Condo fees are a major consideration, as they can range anywhere from $300 to over $1,000 per month, depending on the building, amenities, and unit size. Some fees include hydro and water, while others charge these separately, so it’s important to understand exactly what you’ll be paying for.

Another important factor is the reserve fund. A well-managed condo corporation should have a healthy reserve fund to cover major repairs and maintenance. If the reserve fund is low, owners may face special assessments—unexpected costs passed onto residents. Always request and review the status certificate before purchasing to get a clear picture of the building’s financial health.

Parking and storage are also worth considering, as not every Ottawa condo comes with a parking space. In high-demand areas, purchasing a parking spot can cost anywhere from $30,000 to $50,000 extra. If you rely on public transit, choosing a condo near an LRT station or major bus routes may be a smarter choice.

For pet owners, it’s important to review the building’s pet policies. Some condos have strict weight limits for dogs or even breed restrictions. If you have a pet, double-check the rules before committing to a unit.

Condos vs. Freehold Homes: Which One is Right for You?

Choosing between a condo and a freehold home depends on your lifestyle and financial situation. Condos require significantly less maintenance since common areas are managed by the condo corporation, while freehold homes require owners to handle everything from landscaping to repairs. While condos often have a lower purchase price, freehold homes tend to appreciate more steadily over time.

Condos offer the convenience of urban locations, making them ideal for buyers who want to live close to restaurants, transit, and nightlife. In contrast, freehold homes provide more privacy and space, particularly in suburban areas. However, condo owners must share common spaces and abide by building rules, which can be a drawback for those who prefer more autonomy.

New vs. Resale Condos: What’s the Better Investment?

When buying a condo, you’ll need to decide between a new construction unit and a resale condo. New construction condos often come at a higher price and require a longer wait time—sometimes up to four years before move-in. However, they offer the advantage of customization, allowing buyers to choose finishes and upgrades.

Resale condos, on the other hand, provide immediate occupancy and more predictable condo fees. Since the building has already been established, you can review its financial history, reserve fund, and any existing issues before making a purchase. While new condos may have initially lower fees, these often increase after the first few years as the building ages and maintenance needs arise.

Final Thoughts: Is an Ottawa Condo Right for You?

Buying a condo in Ottawa can be a great investment, but it’s important to understand condo fees, building rules, and long-term financial considerations before making a decision. Whether you’re looking for an affordable entry into homeownership, a low-maintenance lifestyle, or a prime location close to the city's best amenities, condos offer a flexible and convenient option.

Thinking about buying a condo in Ottawa? Contact New Purveyors today to start your search!

How to Make a Condo Feel Like Home (Without Breaking the Rules)

Living in a condo comes with plenty of perks—great locations, modern amenities, and a low-maintenance lifestyle. However, one challenge many condo owners and renters face is making the space feel personal without violating condo rules. Whether you're a homeowner looking to add personality to your space or a renter wanting to make it feel cozy with rental-safe techniques, here’s how to transform your condo into a true home—without breaking the rules.

1. Get Creative with Temporary Décor

Since many condos have strict policies about painting walls or making structural changes, temporary solutions are your best friend.

• Peel-and-Stick Wallpaper or Decals – Available in tons of patterns and textures, these can add character to a room without damaging the walls.

• Removable Hooks & Strips – Perfect for hanging art, mirrors, or even light shelving without drilling.

• Rugs & Floor Coverings – Add warmth, define spaces, and cover outdated flooring without permanent changes.

2. Upgrade Your Lighting

Lighting can completely change the vibe of a space, and in most condos, you’re stuck with whatever fixtures the builder installed.

• Swap Out Light Bulbs – Choose warm-toned LEDs for a cozy feel or smart bulbs that let you adjust brightness and colour.

• Plug-In Wall Sconces & Lamps – If changing hardwired lighting isn’t allowed, use plug-in sconces or floor lamps to brighten up corners.

• Battery-Powered Under-Cabinet Lights – Great for kitchens or even inside closets for extra illumination.

3. Maximize Storage in Style

Condos are known for their efficient use of space, but sometimes they can feel a little tight. The key is finding storage solutions that are both practical and aesthetically pleasing.

• Multi-Functional Furniture – Ottomans with hidden storage, beds with drawers, and fold-down desks maximize space.

• Floating Shelves & Bookcases – Great for displaying books, plants, and decorative pieces without taking up floor space.

• Over-the-Door Storage – Use organizers for shoes, kitchen supplies, or even toiletries to free up cabinets.

4. Bring Life to Your Space with Plants

Plants instantly make a condo feel more inviting and fresh, even if you have limited space or natural light.

• Low-Maintenance Plants – Consider snake plants, pothos, or ZZ plants that thrive in indoor conditions.

• Vertical Gardens – If floor space is tight, use wall-mounted planters or a hanging plant system.

• Herb Gardens for the Kitchen – Small potted herbs add greenery and are useful for cooking.

5. Add Personality with Textiles & Accessories

Since most condo rules prohibit structural changes, textiles and accessories are the easiest way to bring in colour, texture, and personality.

• Throw Pillows & Blankets – Instantly add warmth and character to a space.

• Statement Curtains – Even if you can’t change window frames, stylish curtains can dramatically change a room’s look.

• Personalized Tableware & Small Décor – Unique dishes, candles, and decorative trays make a big difference.

6. Create a Cozy Ambiance with Scents & Sounds

Making a space feel like home isn’t just about how it looks—it’s also about how it feels.

• Scented Candles or Essential Oil Diffusers – Pick comforting scents like vanilla, lavender, or citrus.

• Soft Background Music – Smart speakers or Bluetooth setups can create the perfect atmosphere.

• Plush Area Rugs & Soft Textures – Textures can enhance the sensory experience of a homey space.

7. Personalize Your Entryway

Your condo’s entryway is the first thing you see when you come home, so make it welcoming!

• Stylish Doormats – A simple way to add personality right at your doorstep.

• Console Table or Wall Hooks – Keep keys, mail, and daily essentials organized.

• Statement Mirror – A mirror makes the space feel bigger and adds a decorative touch.

8. Design a Functional Work or Hobby Space

With more people working from home, creating a dedicated space for work or hobbies is essential.

• Compact Desk Setup – A small desk or wall-mounted fold-out desk can create a workspace even in smaller condos.

• Hidden Workspaces – Use stylish storage bins or furniture that can be tucked away when not in use.

• Mood-Boosting Desk Accessories – Add a stylish lamp, ergonomic chair, and personal items to make it inviting.

9. Display Meaningful Art & Photos

Adding personal touches through art and photos can instantly make a condo feel like home.

• Gallery Wall with Removable Frames – Use adhesive strips to display a mix of framed photos, artwork, or travel souvenirs.

• Digital Photo Frames – Rotate images of family, friends, and memories without needing multiple frames.

• Canvas Prints & Leaning Artwork – If you can’t drill into walls, place large canvases on shelves or directly on the floor against a wall.

10. Work Within Your Condo’s Rules (and Ask for Exceptions!)

Finally, always check your condo’s rules before making major changes—but remember, some condo boards allow certain customizations if you ask!

• Check Your Condo’s Bylaws – Some allow painting or minor renovations with board approval.

• Ask About Upgrades – If you own your unit, see if you can swap out light fixtures or install shelving with permission.

• Respect Noise & Common Areas – Keeping things quiet and clean ensures good relationships with neighbours.

Final Thoughts

Making a condo feel like home is all about adding personality in smart, renter- and owner-friendly ways. With the right mix of temporary décor, cozy touches, and clever storage, you can create a space that reflects your style—without worrying about breaking any rules.

Would you like more personalized recommendations based on your condo layout? Drop a comment below!

Meagan Milloy

meagan@newpurveyors.com

Ottawa Real Estate Market: Trends & Insights (2019-2024)

The Ottawa real estate market has seen significant fluctuations over the past five years, with both home and condo sales experiencing peaks and declines. As we enter 2025, the market shows early signs of recovery. Let’s dive into the trends shaping Ottawa’s housing market and what they mean for buyers, sellers, and investors.

Home Sales: Peaks, Declines, and a Rebound

The Ottawa housing market hit its highest point in 2021, with 10,426 homes sold, reflecting strong demand and favourable mortgage rates. However, sales plummeted in 2022 to 7,801 transactions (-25.2% year-over-year) due to rising interest rates, inflation concerns, and economic uncertainty. The downturn continued into 2023, with sales falling further to 6,932 (-11.1% YoY).

The good news? 2024 marks the beginning of a recovery with 7,880 homes sold - an encouraging +13.7% increase from the previous year. This indicates improved consumer confidence and potential market stabilization.

Condo Market: A Rollercoaster Ride

Ottawa’s condo market followed a similar pattern. After reaching a peak in 2021 with 4,819 condo sales (+10.1% YoY), sales tumbled by 24.3% in 2022, hitting 3,648 transactions. The market weakened further in 2023, dropping to 3,103 sales (-14.9% YoY), marking the lowest point in the last five years.

In 2024, we saw a modest recovery, with 3,285 condo sales (+5.9%) - a small but significant sign that the condo sector is regaining momentum.

Key Takeaways & Market Outlook

1. 2021 Was the Peak: The combination of low interest rates and high demand led to record-breaking sales.

2. 2022-2023 Decline: Interest rate hikes and economic uncertainty significantly cooled the market.

3. 2024 Signs of Recovery: Home sales are up 13.7%, and condo sales have rebounded by 5.9%, suggesting a market turnaround.

What’s Next for Buyers & Sellers?

• For Buyers: If you’ve been waiting on the sidelines, now might be the time to re-enter the market before competition increases.

• For Sellers: The improving market conditions mean more opportunities to sell at favorable prices, though strategic pricing is key.

• For Investors: With condo prices stabilizing and rental demand strong, 2025 could be a good year to capitalize on long-term opportunities.

The Ottawa real estate market remains dynamic, and staying informed is crucial. Whether buying, selling, or investing, understanding these trends will help you make the best decisions in this evolving landscape.

Are you considering a move in 2025? Let’s chat about how these trends impact your real estate goals! 

Mitch MacKenzie

mitch@mattrichling.com

Interested in learning more? Reach out via phone or email!

Where to Buy in Ottawa in 2025: Best Neighbourhoods for Your Budget

Buying a home in Ottawa in 2025? Whether you’re a first-time buyer, upsizing, downsizing, or looking for an investment property, location is everything. Ottawa’s real estate market has always been neighbourhood-driven, with different areas offering unique lifestyles, amenities, and price points. If you’re wondering where to buy this year, we’ve broken it down by budget to help you find the best neighbourhood for your needs.

🏡 First-Time Buyers: Best Neighbourhoods Under $450K

Buying your first home? These neighbourhoods offer a mix of affordability, transit access, and future growth potential—perfect for getting into the market.

Vanier

Why Buy Here? Once overlooked, Vanier has seen rapid gentrification, with new businesses and developments popping up. It’s still one of the most affordable options close to downtown.

• Typical Price Range (2025): $350K – $450K (condos & townhomes)

• Vibe: Urban, eclectic, lots of independent shops and cafes

• Best for: First-time buyers who want a short commute to downtown

Hintonburg & Mechanicsville

Why Buy Here? These neighbourhoods remain some of the last “affordable” spots near Wellington West, but prices are climbing. Expect a mix of older homes and newer condo projects.

• Typical Price Range: $400K – $500K (condos & fixer-upper freeholds)

• Vibe: Trendy, artistic, and walkable with breweries and cafes

• Best for: Buyers who want an urban lifestyle without downtown prices

Hunt Club

Why Buy Here? Located in the city’s south end, Hunt Club offers freehold homes and townhouses at a lower price point than most central neighbourhoods. Plus, it’s well-connected to major roads.

• Typical Price Range: $375K – $500K (townhomes & semi-detached)

• Vibe: Family-friendly, suburban with green spaces

• Best for: Buyers who want more space on a budget

🏡 Move-Up Buyers: Best Neighbourhoods for $500K – $800K

If you’re upsizing or looking for a long-term home, these areas offer detached homes and high-end condos without hitting luxury price tags.

Orleans (Avalon & Chapel Hill South)

Why Buy Here? This growing community offers modern homes, good schools, and easy highway access.

• Typical Price Range: $550K – $750K (single-family homes & townhouses)

• Vibe: Suburban, great for families

• Best for: Buyers who want a newer home without being too far from the city

Riverside South

Why Buy Here? This master-planned community is booming thanks to new transit expansions. Expect larger homes and newer builds at competitive prices.

• Typical Price Range: $600K – $850K (detached homes & high-end townhouses)

• Vibe: Modern, quiet, and family-oriented

• Best for: Buyers who want a home in a newer suburban development

Westboro (Condos & Townhomes)

Why Buy Here? If you want an urban lifestyle with high-end amenities, Westboro is a great pick. Single-family homes are pricey, but townhomes and condos are a more affordable entry point.

• Typical Price Range: $550K – $900K (condos & townhouses)

• Vibe: Chic, walkable, lots of shopping and dining

• Best for: Buyers who want a lifestyle upgrade in a vibrant area

🏡 Luxury Buyers: Best Neighbourhoods Over $1M

If you’re looking for high-end properties, Ottawa has several prestigious neighbourhoods with historic homes, waterfront estates, and luxury condos.

Rockcliffe Park

Why Buy Here? Ottawa’s most exclusive neighbourhood, with embassies, historic mansions, and tree-lined streets.

• Typical Price Range: $1.5M – $5M+

• Vibe: Prestigious, quiet, and scenic

• Best for: Buyers looking for estate homes in a prestigious setting

The Glebe & Old Ottawa South

Why Buy Here? These areas offer historic homes with character, plus proximity to Lansdowne, top schools, and the Rideau Canal.

• Typical Price Range: $1M – $3M

• Vibe: Charming, walkable, family-friendly

• Best for: Buyers looking for a mix of history and lifestyle

Manotick & Greely

Why Buy Here? If you want more land and a quieter lifestyle, these areas offer luxury homes on estate-sized lots.

• Typical Price Range: $1.2M – $3M

• Vibe: Spacious, private, perfect for growing families

• Best for: Buyers who want luxury without downtown density

2025 Buying Trends in Ottawa

• 💰 Condos Are Still the Best Entry Point: With rising home prices, condos remain a smart option for first-time buyers.

• 🚆 Transit-Connected Neighbourhoods Are Booming: With LRT expansions, neighbourhoods along new transit routes (like Riverside South) are seeing increased demand.

• 🏡 New Builds vs. Older Homes: With material costs rising, newly built homes are becoming more expensive, but older homes may need costly renovations.

Which Ottawa Neighbourhood Is Right for You?

Whether you’re buying your first home or upgrading to a luxury property, choosing the right neighbourhood is key. If you're looking for expert guidance on where to buy in 2025, contact us today—we’ll help you find the perfect home for your budget and lifestyle.

Why More Ottawa Homeowners Are Choosing Condos in 2025

For years, condos in Ottawa have been a popular choice for first-time buyers, investors, and downsizers. But as we move into 2025, a growing number of homeowners—who traditionally preferred townhomes or detached houses—are making the switch to condo living. Whether it’s for convenience, affordability, or lifestyle perks, the condo market is becoming an increasingly attractive option.

Here’s why more Ottawa homeowners are saying goodbye to the hassle of house maintenance and embracing the condo lifestyle in 2025.

1. The Convenience Factor: Less Maintenance, More Living

Owning a house comes with a long to-do list—shovelling snow, mowing the lawn, cleaning gutters, and handling unexpected repairs. In contrast, condo living offers a lock-and-leave lifestyle, ideal for:

✔ Busy professionals who don’t want to spend weekends on home maintenance.
✔ Retirees looking to downsize without sacrificing comfort.
✔ Frequent travellers who want a secure, low-maintenance home base.

In 2025, developers are prioritizing turnkey living, offering everything from concierge services to on-site maintenance, making condo life smoother than ever.

2. Affordability: Condos Are the Smart Financial Choice

With rising interest rates and the increasing cost of detached homes, more Ottawa buyers are choosing condos as an affordable alternative.

✔ The average condo price in Ottawa remains significantly lower than freehold homes, making them a budget-friendly choice for many.
✔ Lower property taxes and utility costs mean ongoing savings.
✔ New mortgage rules and incentives in 2025 are making condo ownership more accessible.

For those looking to build equity without stretching their finances, condos continue to be a practical investment.

3. Amenities That Rival Private Homes

A big reason for the shift toward condos in 2025? Developers are packing buildings with high-end amenities that rival traditional homes. Instead of paying for home renovations, condo owners can now enjoy:

✔ Luxury fitness centres—No need for a separate gym membership.

✔ Infinity pools, saunas, and rooftop terraces—Perfect for socializing and unwinding.

✔ Co-working spaces with free coffee—Ideal for remote workers.

✔ Guest suites—Eliminating the need for extra bedrooms.

For many homeowners, these perks make downsizing feel like an upgrade.

4. New Condo Developments Are Raising the Bar

Unlike older condos that sometimes lack character, Ottawa’s new condo developments are redefining urban living. Expect:

✔ More space-efficient layouts that maximize every square foot.
✔ Architectural designs that blend into historic Ottawa neighbourhoods.
✔ More outdoor space, including private balconies and rooftop gardens.

With new condo projects popping up in Westboro, the Glebe, and Little Italy, buyers no longer have to compromise on location or style.

5. Sustainable Condo Living: A Smart Choice for the Future

As environmental concerns grow, Ottawa condos in 2025 are leading the way in green living. Buyers are increasingly drawn to developments that include:

✔ Energy-efficient heating and cooling systems for lower bills.
✔ Solar panels and EV charging stations in underground parking.
✔ Sustainable building materials that reduce environmental impact.
✔ Smart home automation for reducing energy waste.

Choosing a condo means living more sustainably—without giving up comfort.

6. Security and Peace of Mind

For many homeowners, security is a major factor in switching to condo life. With features like:

✔ 24/7 concierge and controlled access buildings,
✔ Underground parking with surveillance, and
✔ Gated or fob-entry systems,

Condos offer a level of security that standalone homes can’t always provide—especially for those who travel frequently or live alone.

7. The Growing Resale Value of Condos

In the past, some buyers hesitated about condos due to concerns over resale value. But in 2025, the demand for affordable, well-located housing is stronger than ever, driving up condo values.

✔ New infrastructure projects, including LRT expansions, are making condos more desirable.

✔ More homeowners are downsizing, increasing the demand for spacious, well-maintained condos.

✔ Rental demand is surging, making condos a solid investment option for those considering future resale.

For buyers worried about long-term appreciation, condos in prime locations are proving to be a smart bet.

Is 2025 the Right Time to Make the Move?

For Ottawa homeowners looking for convenience, affordability, and a modern lifestyle, condos are no longer just a stepping stone—they’re a preferred choice. With better amenities, sustainable designs, and strong resale potential, moving to a condo in 2025 might be the smartest real estate decision you make.

Thinking about making the switch? Whether you're upsizing, downsizing, or investing, we can help.

The Future of Condo Living in Ottawa: What to Expect in 2025

As we move into 2025, condo living in Ottawa is evolving in exciting ways. From new developments to emerging lifestyle trends, the city’s condo market is adapting to the needs of modern buyers and renters. Whether you’re considering buying a condo, investing, or simply staying informed, here’s what you need to know about the future of condo living in Ottawa.

1. The Rise of Smart Condos

Technology continues to reshape the way we live, and condos are at the forefront of this transformation. More Ottawa condos are integrating smart home technology, offering features such as:

• Keyless entry and smart locks – Say goodbye to lost keys with secure digital access.

• Automated lighting and climate control – Save on energy bills with motion-sensing lights and smart thermostats.

• Integrated security systems – Many new condos now include 24/7 surveillance with mobile app access.

• Smart appliances – Fridges, ovens, and even coffee makers that can be controlled remotely.

In 2025, expect to see more developers prioritizing smart features as a standard offering rather than an upgrade.

2. Work-From-Home Amenities Are Here to Stay

With remote work still a significant factor in how people live, condos in Ottawa are focusing more on flexible workspaces and co-working lounges. Some of the newest and most in-demand condo buildings now feature:

• Private work pods for focused productivity.

• High-speed internet included in condo fees.

• Shared meeting rooms and conference spaces.

• Soundproof phone booths for video calls.

For remote workers and entrepreneurs, these amenities can make condo living far more convenient and appealing.

3. More Focus on Sustainability and Energy Efficiency

Environmental sustainability is becoming a priority for both developers and condo buyers. Some of the biggest eco-friendly trends shaping Ottawa condos in 2025 include:

• EV Charging Stations – As more residents switch to electric vehicles, condos are offering built-in charging options.

• Green Roofs & Urban Gardens – Some condos are adding communal green spaces and rooftop gardens to improve air quality and provide a place to relax.

• Energy-Efficient Windows & Insulation – Better insulation means lower heating and cooling costs, a major benefit in Ottawa’s climate.

• Water Conservation Features – Low-flow fixtures, rainwater collection, and greywater recycling are becoming more common.

For buyers and investors, sustainability features can add long-term value while reducing energy costs.

4. New Condo Projects Are Expanding Beyond the Core

While downtown Ottawa remains a prime location for condo developments, more projects are popping up in surrounding neighbourhoods. Areas like Westboro, Hintonburg, and Little Italy continue to see major condo growth, offering urban convenience without the downtown price tag.

Meanwhile, suburban condo developments in places like Barrhaven, Kanata, and Orleans are providing more affordable options for those looking for condo living with a bit more space.

5. Smaller Units, Bigger Common Spaces

As affordability remains a concern, many Ottawa condo developers are shifting towards smaller private units while enhancing shared spaces to maximize livability. Some new trends include:

• Larger shared kitchens and dining areas for entertaining guests.

• Communal rooftop terraces with fire pits and BBQs.

• Expansive fitness centres with dedicated yoga and meditation rooms.

• Lounge areas with coffee bars and libraries.

This approach allows residents to enjoy a higher quality of life while keeping unit prices more accessible.

6. Condo Fees Are Changing – Here’s What to Watch For

One of the biggest concerns for condo buyers in 2025 is rising condo fees. With increasing maintenance costs, insurance premiums, and service expenses, buyers need to pay close attention to:

• What’s included – Some buildings bundle utilities, internet, and even gym memberships into condo fees.

• Reserve fund health – A well-funded reserve ensures there won’t be surprise special assessments.

• Newer buildings vs. older buildings – While newer condos may have lower fees initially, maintenance costs can rise over time.

Before purchasing, always review the status certificate to understand what you’re committing to.

Final Thoughts: Is 2025 a Good Time to Buy a Condo in Ottawa?

Ottawa’s condo scene is adapting to the needs of buyers, renters, and investors. With smart home tech, remote work amenities, and sustainable designs, condos in 2025 are built for modern living. While condo fees are something to watch, the shift towards smaller, smarter, and more community-driven buildings makes this an exciting time to enter the market.

Thinking about buying a condo in Ottawa? Whether you're a first-time buyer, downsizer, or investor, we can help you find the right fit. Contact us today to explore your options.

The 5 Best Condo Buildings in Ottawa for 2025: Amenities, Location & Lifestyle

As Ottawa’s condo scene continues to evolve, buyers and renters are seeking more than just a place to live—they want a lifestyle. Whether you're a first-time buyer, an investor, or looking for the perfect downtown spot, choosing the right condo building can make all the difference.

Here are five of the best condo buildings in Ottawa for 2025, based on their amenities, location, and overall living experience.

1. The Claridge Moon – Best for Transit Lovers

📍 340 Queen St, Ottawa

Why It’s Great:

• The only condo directly connected to an LRT station (Lyon Station)—perfect for commuters.

• Stunning rooftop terrace with panoramic city views.

• Fitness centre, lounge, and modern interiors with floor-to-ceiling windows.

• Located in the heart of downtown with direct access to retail and dining.

🚆 Perfect for: Professionals who want to ditch their car and have direct access to public transit.

2. SoBa – Best for Young Professionals

📍 203 Catherine St, Ottawa

Why It’s Great:

• Loft-inspired design with exposed concrete ceilings and modern finishes.

• One of the best outdoor pools in the city with a resort-style vibe.

• Steps from Lansdowne Park, the Glebe, and Elgin Street nightlife.

• A vibrant community of young professionals and urban dwellers.

🌇 Perfect for: Those who want stylish city living with a social atmosphere.

3. The Icon – Best for Luxury Seekers

📍 505 Preston St, Ottawa

Why It’s Great:

• Tallest residential tower in Ottawa, offering unmatched views of the city and Gatineau Hills.

• Premium amenities: fitness centre, yoga studio, concierge service, and a private dining room.

• Located in Little Italy, surrounded by top restaurants, bars, and cafés.

• High-end finishes with spacious floor plans.

🍷 Perfect for: Buyers looking for high-end living with luxurious finishes and top-tier amenities.

4. The Rideau at Lansdowne – Best for Walkability & Sports Fans

📍 1035 Bank St, Ottawa

Why It’s Great:

• Located in the heart of Lansdowne, steps from TD Place, Whole Foods, and Cineplex VIP Theatre.

• Ideal for those who love an active lifestyle—walk to yoga studios, running trails, and fitness centres.

• Spacious units with large balconies and views of the Rideau Canal.

⚽ Perfect for: Anyone who wants a vibrant, walkable lifestyle near entertainment, sports, and parks.

5. 101 Queen (Re-Residences) – Best for Professionals & Executives

📍 101 Queen St, Ottawa

Why It’s Great:

• Hotel-inspired living with a concierge, valet parking, and guest suites.

• High-end fitness centre, sauna, and a rooftop sky lounge with Parliament views.

• Located in Ottawa’s financial district, just steps from Parliament Hill.

• Exclusive private club access for residents, perfect for networking and social events.

👔 Perfect for: Executives, business professionals, and those who want a prestigious downtown address.

Which Ottawa Condo is Right for You?

Each of these buildings offers something unique, from transit-friendly locations to luxury living and nightlife access. When choosing a condo, think about:

✅ Location & walkability – Do you want to be in a lively area or a quieter neighbourhood?
✅ Amenities & lifestyle – Are you looking for a gym, pool, concierge, or rooftop terrace?
✅ Investment potential – Are you buying for personal use or as a rental property?

The Ultimate Guide to Condo Fees in Ottawa: What Buyers and Sellers Need to Know

When buying or selling a condo in Ottawa, one of the biggest questions that comes up is: How much are condo fees, and what do they cover? Condo fees can make or break a deal, influencing affordability, resale value, and overall satisfaction with a condo purchase. Whether you're a first-time buyer, a seasoned investor, or a seller looking to maximize your unit’s appeal, understanding condo fees is crucial.

What Are Condo Fees?

Condo fees (also called maintenance fees) are monthly payments made by condo owners to cover the costs of maintaining the building and shared amenities. These fees are mandatory and vary depending on factors like the building’s age, size, amenities, and management.

How Much Are Condo Fees in Ottawa?

The cost of condo fees in Ottawa can range widely, but on average, you can expect to pay:

• Low-rise condos: $200 - $400 per month

• High-rise condos: $400 - $800 per month

• Luxury condos: $800+ per month

These figures are just estimates, and fees can be higher in buildings with premium amenities like 24-hour concierge service, pools, and fitness centres.

What Do Condo Fees Cover?

Most Ottawa condo fees include:
✅ Building Maintenance: Repairs to common areas, hallways, elevators, and parking garages.
✅ Utilities: Some fees include water, heat, or even hydro, but this varies by building.
✅ Reserve Fund Contributions: A savings account for future major repairs like a new roof or window replacements.
✅ Building Insurance: Covers common areas but does NOT replace your personal condo insurance.
✅ Amenities & Services: Gym, pool, concierge, security, and even snow removal in some buildings.

Why Do Condo Fees Vary So Much?

Several factors influence condo fees:
🏗 Age of the Building: Older buildings often have higher fees due to maintenance and repair costs.
🎢 Amenities: Pools, gyms, rooftop terraces, and concierge services drive up costs.
📍 Location: Downtown condos tend to have higher fees than suburban ones.
👨‍💼 Management Efficiency: Well-managed buildings may keep fees lower by budgeting wisely.

Are High Condo Fees a Red Flag?

Not necessarily! High fees can indicate a well-maintained building with strong reserves, preventing costly special assessments down the road. However, it's essential to review the condo corporation’s financials before buying. A well-funded reserve fund means fewer surprises.

How Can Sellers Market Their Condo Despite Higher Fees?

If you're selling a condo with above-average fees, highlight the value:
🏢 Premium amenities – Focus on perks like a gym, rooftop terrace, or concierge.
💡 All-inclusive benefits – Some condo fees cover hydro and internet, making budgeting easier.
📊 Strong financials – A well-funded reserve reassures buyers about long-term maintenance.
🔍 Comparisons – Show how fees compare to similar buildings in the area.

How Can Buyers Find Low-Fee Condos in Ottawa?

If keeping condo fees low is a priority, consider:
🏡 Low-rise buildings – Fewer amenities mean lower costs.
🚪 Smaller buildings – Boutique condos often have lower overhead.
💸 Reviewing financials – Work with a real estate agent to assess the building’s reserve fund.

Final Thoughts

Condo fees are a key part of Ottawa’s condo market, affecting both buyers and sellers. Whether you're purchasing your first condo or selling your unit, understanding these costs will help you make a smarter real estate decision.

Ottawa Condo Market Statistics - January 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 January 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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More Listings, Cautious Buyers, and a Shifting Market

The Ottawa real estate market is off to an interesting start in 2025, with increased activity, more inventory, and a mix of cautious buyers and motivated sellers. While home sales were slightly down year-over-year, confidence in the market is growing, fueled by a recent Bank of Canada rate cut and expectations of further interest rate reductions.

January 2025 saw 617 homes sold through the MLS® System of the Ottawa Real Estate Board (OREB), representing a 4.2% decline compared to January 2024. This number also remains 13% below the five-year average and 9.6% below the 10-year average for January. However, a significant increase in new listings and active inventory is changing the dynamics of the market, offering buyers more choices while pushing sellers to price more competitively.

Let’s dive into the key trends shaping the Ottawa real estate market in 2025.

Key Market Highlights for January 2025

• 617 homes sold (-4.2% YoY)

• Average home price: $670,258 (+5.8% YoY)

• Single-family benchmark price: $713,000 (+2.3% YoY)

• Apartment benchmark price: $436,900 (+4.5% YoY)

• Townhouse/Row benchmark price: $448,000 (-3.9% YoY)

• New listings: 1,359 (+3.0% YoY)

• Active listings: 3,312 (+57.3% YoY)

• Months of inventory: 5.4 months (up from 3.3 months in January 2024)

Home Prices: A Closer Look

Despite a decline in sales volume, home prices in Ottawa have remained stable or increased in most segments:

• Single-family homes: The benchmark price increased 2.3% year-over-year to $713,000, reflecting continued demand for detached properties.

• Apartments: Condo apartments saw a 4.5% price increase, reaching $436,900, as affordability concerns drive more buyers towards this market segment.

• Townhouses/Row Units: This segment was the only one to experience a decline, with prices falling 3.9% to $448,000, indicating shifting buyer preferences.

• Average Home Price: Across all property types, the average sale price in January 2025 was $670,258, marking a 5.8% increase from last year.

OREB cautions that while the average sale price is a useful indicator of market trends, it does not necessarily reflect the appreciation or depreciation of individual properties, as home values vary based on location, condition, and other factors.

Supply & Inventory: A Major Shift in the Market

One of the most notable changes in Ottawa’s market is the significant increase in active listings, which have risen by 57.3% year-over-year, bringing the total to 3,312 units.

• New Listings: The number of newly listed homes in January rose by 3.0%, with 1,359 new properties hitting the market.

• Months of Inventory: The market now has 5.4 months of inventory, a substantial increase from 3.3 months in January 2024. This suggests that buyers now have more choices, reducing pressure on prices and slowing down bidding wars.

While inventory remains below pre-pandemic levels, the increase in available properties is creating a more balanced market—neither strongly favoring buyers nor sellers.

Why is Ottawa’s Market Changing?

Several key factors are influencing Ottawa’s real estate market:

1. The Bank of Canada Rate Cut

The recent interest rate cut has sparked optimism among buyers, with expectations of further reductions in 2025. Lower rates improve affordability, making it easier for buyers to qualify for mortgages and reducing monthly payments.

2. More Listings = More Choices for Buyers

For the past few years, Ottawa’s market has struggled with low inventory. However, with a 57.3% increase in active listings, buyers now have more negotiating power. This means fewer bidding wars and more opportunities for buyers to find properties that suit their needs.

3. Economic & Political Uncertainty

With U.S. tariffs, upcoming federal and provincial elections, and economic shifts, some buyers and sellers are taking a wait-and-see approach. These external factors could impact consumer confidence and influence real estate trends throughout the year.

What This Means for Buyers & Sellers

For Buyers:

✅ More Listings = More Choice: With inventory rising, buyers have more options and less competition compared to the past few years.
✅ Interest Rate Relief: The Bank of Canada’s rate cut is making financing slightly more affordable, and more rate cuts may come later in the year.
✅ Slower Price Growth: While prices are rising in some segments, the market is less competitive, giving buyers more negotiating power.

Advice: If you’ve been waiting for the right time to enter the market, now may be a good opportunity to secure a home before demand picks up again in the spring.

For Sellers:

⚠ More Listings = More Competition: With more homes on the market, sellers must price their homes competitively to attract buyers.
⚠ Presentation Matters: Well-staged, well-marketed homes are selling faster than overpriced or poorly presented properties.
⚠ Some Homes are Selling Quickly, Others are Sitting: Homes in high-demand areas are still moving fast, while others may take longer to sell.

Advice: If you’re planning to sell in 2025, work with an experienced real estate team to ensure your home is marketed effectively and priced right for the current market conditions.

Market Outlook for 2025

Looking ahead, Ottawa’s market is expected to gain momentum in the coming months as buyers take advantage of improved affordability and increased supply.

• More buyers are expected to return to the market as confidence grows.

• Sellers will need to adapt to changing conditions by pricing competitively.

• Spring 2025 could see more sales activity, especially if interest rates continue to decline.

While external factors like economic policy and global trade conditions could create uncertainty, Ottawa remains one of Canada’s most stable and desirable real estate markets.

Final Thoughts

January 2025 marks a transitional phase in Ottawa’s real estate market. While sales were slightly lower, rising inventory and renewed buyer interest signal a move toward a more balanced market.

For buyers, the increase in inventory and lower rates provide great opportunities.
For sellers, competitive pricing and strong marketing will be essential to securing a sale.

As the year progresses, expect increased activity, more competition, and a shifting landscape for Ottawa real estate.

For more detailed statistics and insights, visit the Ottawa Real Estate Board at www.oreb.ca.

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.