Selling Your Ottawa Condo in 2025? Here’s What You Need to Know

As the Ottawa condo market continues to stabilize in 2025, many owners are wondering if now is the right time to sell — and how to make their unit stand out in a sea of listings.

The truth is: buyers are still active, but they’re careful. Inventory has increased across the downtown core and beyond, and buyers are taking their time, comparing square footage, fees, layouts, and amenities before making a move. If you’re thinking about selling your condo this year, preparation and positioning are everything.

Here’s what you need to know before listing your condo in 2025.

The Market Is Smarter — and Slower — Than Before

Ottawa condo buyers are more informed than ever. With higher carrying costs due to interest rates and rising condo fees, they’re digging into the numbers. That means your price, monthly fees, reserve fund health, and recent sales in your building will all be under a microscope.

Setting the right asking price is critical. The wrong number, even by a small margin, can result in low interest and a slower sale. We analyze real-time data from your building and neighbourhood to ensure you’re priced to attract serious buyers while still maximizing your return.

Presentation Is No Longer Optional

In a competitive condo market, small details matter. Units that are clean, bright, and thoughtfully presented tend to move faster, especially if they photograph well. That might mean fresh paint, minor repairs, and decluttering before we bring in a professional photographer and videographer.

We tailor our prep strategy to the condo lifestyle, where space is limited and design choices speak volumes. Our marketing team ensures your listing doesn’t just look good — it performs well on every platform that matters.

The First Week on Market Sets the Tone

In 2025, most condo sales happen within the first 10 to 14 days, or not at all. If buyers don’t engage early, the listing risks going stale.

We focus heavily on pre-market exposure, agent previews, and buyer alerts to build momentum before your listing even hits Realtor.ca. This ensures your unit is seen by the right people at the right time, with a strong call to action.

Amenities, Layout, and Fees: Make the Most of What You’ve Got

Buyers in 2025 want value. That doesn’t always mean the lowest price — it means they want to understand why your unit is worth it. Do you have an ideal layout? South-facing views? A rare parking space? Lower-than-average fees for your location?

We know what buyers are asking about because we’re working with them every day. And we position your unit to check the boxes they care about most.

Selling a Condo in Ottawa in 2025? Let’s Talk.

Selling a condo in today’s market takes more than a listing. It takes a data-driven strategy, compelling marketing, and an agent who understands the nuances of the downtown Ottawa condo scene.

We’ve helped hundreds of condo owners successfully sell their homes — and we’re here to help you do the same. If you’re considering a sale this year, reach out today for a no-obligation valuation and a tailored plan to get your unit sold.

What $500,000 Gets You in Ottawa’s Condo Market in 2025

If you're looking to buy a condo in Ottawa this year with a budget of around $500,000, you're not alone. As interest rates fluctuate and inventory levels shift, more buyers are gravitating toward condominiums as a smart way to get into the market without sacrificing lifestyle or location. But what does half a million dollars really get you in today’s market?

Let’s break it down — from downtown towers to neighbourhood gems — so you know exactly what to expect in 2025.

Downtown Core: Location, Location…Size?

Downtown condos remain among the most in-demand, and for $500,000, you’ll typically be looking at a 1-bedroom unit, possibly with a den, in one of Ottawa’s premier buildings. Think Claridge Moon near the new LRT station, or The Gotham in Centretown.

What you’re paying for here is:

• Walkability to restaurants, shops, and nightlife

• Access to transit (hello, LRT!)

• Modern finishes, floor-to-ceiling windows, and concierge services

What you’re giving up:

• Likely no second bedroom

• Parking may not be included

• Smaller square footage (under 750 sq ft)

Still, if lifestyle and location are your top priorities, it’s a strong value play.

Westboro & Hintonburg: Style Meets Substance

Neighbourhoods like Westboro and Hintonburg have become major draws for young professionals and remote workers alike. In these areas, $500,000 often gets you a boutique condo, sometimes with 2 bedrooms or a large 1-bedroom + den.

Expect:

• A mix of newer builds and tasteful conversions

• Proximity to transit, bike paths, and microbreweries

• A community vibe that feels more laid-back than downtown

Keep in mind:

• Parking still may not be included

• Maintenance fees can be higher in smaller buildings

Notable buildings include The Eddy and Q West — both known for modern design and eco-friendly touches.

South & East Ottawa: Bigger Spaces, Fewer Frills

Looking to maximize space and still stay under $500K? Buildings in areas like Alta Vista, Riverside South, or Orleans often offer:

• 2 bedrooms, 2 bathrooms

• Parking included

• Larger square footage (over 1,000 sq ft in many cases)

These may not have rooftop patios or concierge desks, but you’ll get:

• Quiet, established communities

• Lower cost per square foot

• A more suburban pace of life

Perfect for downsizers, first-time buyers who want more space, or anyone looking for long-term value.

Pre-Construction Options: Thinking Ahead

Pre-construction condos are still an option in 2025, though delivery timelines can be long and prices are often creeping above the $500K mark for anything substantial. With $500K, you can still secure a well-laid-out 1-bedroom or small 2-bedroom unit, especially if you're early in a project.

Pros:

• Brand-new everything

• Tarion warranty coverage

• Potential for equity growth before you even move in

Cons:

• Occupancy can take 2–4 years

• Delays are common

• Limited ability to customize at lower price points

If you’re considering pre-construction, it’s best to work with an agent familiar with the Ottawa condo landscape — especially someone who can spot the buildings worth your wait.

What to Prioritize in 2025’s Market

In a market like Ottawa’s, where conditions can shift quickly, here are three things to keep in mind:

1. Don’t just shop price — shop value. Look at square footage, location, and amenities holistically.

2. Parking matters. Even if you don’t drive now, resale value goes up significantly when a unit includes parking.

3. Fees aren’t the enemy. Maintenance fees that cover heat, water, and even electricity can be more stable than fluctuating utility bills in a freehold.

Final Thoughts

In 2025, $500,000 is still a solid entry point into Ottawa’s condo market — especially if you’re strategic. Whether you want to be in the heart of downtown or tucked into a quieter neighbourhood with a bit more space, there are still smart buys to be had.

And if you're wondering where your budget can go the furthest, or which buildings have the best resale potential, that’s where we come in. Let’s find you the condo that fits your life now — and grows with you later.

Ottawa Real Estate – Easter, Tariff Talks & Election Distraction Breakdown

Heads up: Good Friday was March 29th and Easter Monday was April 1st last year — three weeks earlier. So year-over-year comparisons are a little skewed. It's not quite apples to apples... more like apples to Easter Eggs.

March 31–April 6 (No Holidays This Year, Easter Last Year)

• Total Sales: 247 (up +7.4% from 230 last year)

• Residential:

  • 175 sales

  • 99.10% LP vs SP

  • 26 days to sell

• Condos:

  • 72 sales

  • 98.13% LP vs SP

  • 35 days to sell

Normal spring activity, solid pricing. Slightly slower condo movement. No Easter slowdown like last year.

April 7–13 (Pre-Good Friday Week)

• Total Sales: 249 (down -16.2% from 297 last year)

• Residential:

  • 173 sales

  • 99.06% LP vs SP

  • 23 days to sell

• Condos:

  • 76 sales

  • 98.16% LP vs SP

  • 32 days to sell

Sales volume cooled off hard year-over-year, but prices held steady. Buyers weren’t rushing, but they were still paying.

April 14–20 (Good Friday + Easter Weekend This Year)

• Total Sales: 216 (down -27.8% from 299 last year)

• Residential:

  • 150 sales

  • 99.22% LP vs SP (highest of all weeks)

  • 20 days to sell (fastest of all weeks)

• Condos:

  • 66 sales

  • 97.82% LP vs SP

  • 30 days to sell

Holiday weekend cratered volume, but serious buyers moved fast and paid full price.

April 21–27 (Post-Easter Recovery)

• Total Sales: 227 (down -15.9% from 270 last year)

• Residential:

  • 159 sales

  • 98.99% LP vs SP

  • 25 days to sell

• Condos:

  • 68 sales

  • 98.28% LP vs SP

  • 32 days to sell

Sales tried to bounce back post-Easter, but still lagged behind last year. Pricing dipped slightly but stayed strong.

Big Picture:

• Sales Volume: Every week (except the first) saw a double-digit drop in sales compared to 2024.

• Pricing: Still fierce — homes selling within 1–2% of asking price.

• Speed: Faster sales around Good Friday; a little slower as Easter passed.

• Market Sentiment: Tariffs and election noise cooled the fence-sitters, but real buyers stayed sharp.

Final Verdict:
Ottawa’s market didn't crack under the pressure — fewer deals, but sellers still flexed on price.

For a personalized market assessment and tailored advice, reach out to a local real estate expert, like Mitch MacKenzie, to get insights specific to your real estate needs.

Mitch MacKenzie

mitch@mattrichling.com

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

Why More Buyers Are Choosing Condo Townhomes in Ottawa (2025)

If you’re looking for the perfect balance between space and simplicity, a condo townhome might be exactly what you’ve been searching for. In 2025, this hybrid option is gaining serious traction with first-time buyers, investors, and even downsizers—and for good reason.

Here's what you need to know before making your move.

What Is a Condo Townhome?

A condo townhome blends the feel of a freehold house with the benefits of condo living. You own the interior of your unit, but a condo corporation takes care of the exterior maintenance, common areas, and often things like snow removal, landscaping, and roof repairs.

Unlike traditional high-rise condos, condo townhomes usually come with private entrances, backyard space, and multi-level layouts. Think: more space, less hassle.

Why Buyers Love Them

• Low Maintenance
  Exterior upkeep, lawn care, and snow removal are covered. You focus on living—not managing repairs.

• Affordability Compared to Freeholds
  Many condo townhomes are priced lower than similar-sized freehold homes in the same neighbourhoods, especially in high-demand areas like Westboro, Barrhaven, or Central Park.

• Ideal for First-Time Buyers and Investors
  Condo fees provide predictable maintenance costs, which can be attractive for buyers who want long-term budgeting certainty—or those looking to rent the unit.

What to Watch For

Before buying, make sure you understand:

• The Condo Fees
  What’s included (and what’s not)? Fees can vary widely by development.

• The Health of the Condo Corporation
  A status certificate will show you if the corporation has a strong reserve fund and if there are any upcoming special assessments or red flags.

• Rules and Restrictions
  Some condo corporations may limit rentals, pets, or exterior changes. Always read the fine print.

Neighbourhoods to Watch in 2025

Looking for a well-located condo townhome? These Ottawa areas are worth keeping an eye on:

• Carlington / Central Park
  Great value close to the core, with newer builds and solid long-term growth.

• Riverside South
  Tons of new development and LRT expansion make this a hot pick for investors.

• Chapel Hill South (Orleans)
  More space for the price and popular with young families and commuters.

• Stonebridge (Barrhaven)
  A family-oriented neighbourhood with well-maintained condo townhome communities.

Should You Buy in 2025?

With interest rates projected to stay relatively stable, and inventory remaining tight in Ottawa’s core, condo townhomes are a strategic choice for buyers who want more flexibility without the full commitment of freehold ownership.

Whether you’re buying your first home or adding to your portfolio, the value and versatility of condo townhomes make them one of the most underrated opportunities in the Ottawa real estate market right now.

Start Your Search

Ready to find a condo townhome that fits your lifestyle—and your long-term goals?
Browse available listings or connect with our team to talk strategy. We’ll help you find the right space, in the right place, at the right price.

Let’s find the right condo for your goals.

Are Ottawa Condos a Good Investment in 2025? Here’s What You Need to Know

As Ottawa continues to grow, many buyers and investors are asking: Are condos in Ottawa still a smart investment in 2025? With prices adjusting, inventory rising, and rental demand staying relatively strong, the answer depends on what you’re looking for—and how well you understand today’s market.

Let’s break it down.

Why Investors Still Look at Ottawa Condos

Ottawa has long been known for its economic stability. With a large base of government workers, growing tech sector, and several post-secondary institutions, the city sees consistent demand for housing—even when national markets shift.

Condos remain an accessible option for first-time buyers and a popular pick for investors thanks to:

• Lower entry prices compared to freehold properties

• Steady rental demand, especially near transit, universities, and hospitals

• Low-maintenance ownership, with exterior upkeep handled by condo corporations

• Prime urban locations, often steps from shops, restaurants, and LRT stations

Updated Snapshot: Ottawa Condo Market – April 2025

According to the Ottawa Real Estate Board and CMHC:

• Average condo sale price: $426,413

• Year-over-year price change: –2.9%

• Average days on market: 32

• Inventory levels: 5.5 months (balanced leaning toward buyer’s market)

• Rental vacancy rate (purpose-built): 2.6%

The slight price dip and higher inventory suggest that buyers currently have more negotiating power, while rental demand remains stable.

Top Neighbourhoods for Condo Investment in 2025

If you’re considering buying a condo this year, location still matters most. Some areas remain stronger than others when it comes to long-term rental potential and resale value.

Centretown
Walkable, well-connected by transit, and packed with amenities. Condos here are popular with government workers, young professionals, and students.

Westboro & Hintonburg
Trendy, urban, and full of character—this area attracts tenants who want lifestyle and convenience. Many newer boutique condo buildings here offer strong rental potential.

Little Italy / Dow’s Lake
This area blends waterfront access, restaurants, and proximity to Carleton University and the Civic Hospital. Investors love the balance of livability and rental demand.

Tips for Smart Condo Investing in Ottawa

Not all condos are created equal. Here’s what to look for in today’s market:

• Strong building management and a healthy reserve fund (review the status certificate!)

• Reasonable condo fees, ideally under $0.75 per square foot

• Clear rental policies that allow long-term leasing

• Walkability, amenities, and transit access, especially near LRT lines

• Units with smart layouts, good natural light, and in-suite laundry

If your goal is rental income, target units in professionally managed buildings where tenants are likely to stay long term.

Is Now a Good Time to Invest?

With prices slightly down and inventory up, 2025 may be an ideal entry point—particularly for buyers who’ve been priced out in recent years. While it’s not the “buy anything and watch it double” market of early pandemic days, Ottawa remains a long-term hold city with solid fundamentals.

The key is to buy strategically.

Final Thoughts

Condo investing in Ottawa is less about timing the market and more about understanding the opportunity. With the right unit, in the right location, managed by the right people—your investment can generate strong returns and long-term stability.

Want help identifying which buildings are worth your attention—and which ones to avoid? That’s where we come in.

Let’s find the right condo for your goals.

Ottawa Real Estate Q1 2025: What the Numbers Are Telling Us

As we kick off Q2 2025, Ottawa’s real estate market shows signs of stability - quiet strength beneath all the rate noise and affordability headlines. The latest numbers reveal which property types are holding firm and where the opportunities are.

Let’s break it down by category and compare this year's first quarter to Q1 2024:

Condo Apartments

• Q1 2025: 448 sold | 48 days on market | 97.69% list-to-sale ratio

• Q1 2024: 503 sold | 42 days on market | 98.00% list-to-sale ratio
  Sales down 11%, longer time to sell, and slightly more room for negotiation.

Condo Townhomes

• Q1 2025: 229 sold | 39 days on market | 98.65% list-to-sale ratio

• Q1 2024: 186 sold | 33 days on market | 98.00% list-to-sale ratio
  Sales up 23%, strong price performance, and steady buyer interest despite longer timelines.

Freehold Townhomes

• Q1 2025: 484 sold | 30 days on market | 99.39% list-to-sale ratio

• Q1 2024: 491 sold | 30 days on market | 97.17% list-to-sale ratio
  Volume holding steady, but sellers are now seeing much stronger offers and minimal discounting.

Detached Homes

• Q1 2025: 734 sold | 31 days on market | 98.61% list-to-sale ratio

• Q1 2024: 798 sold | 31 days on market | 97.33% list-to-sale ratio
  Slight dip in sales, but buyers are coming in closer to asking price - demand for detached homes remains solid.

What This Means for You

• Sellers have pricing power. Properties are holding value and often selling near full price.

• Townhomes are the hot ticket. Both condo and freehold townhomes are performing exceptionally well.

• Detached homes continue to attract serious buyers. Even with a drop in sales volume, the pricing tells the story.

• Condos present buying opportunities. Especially apartment-style units, where there's more room to negotiate.

Final Thoughts

Ottawa’s market isn’t booming - but it’s solid. Buyers are active and paying strong prices when homes are positioned properly. Sellers who are priced right are winning.

Thinking about making a move this year? Let’s talk strategy.

Mitch MacKenzie

mitch@mattrichling.com

613 282 9441

What to Look for When Buying a Condo in Ottawa (That No One Tells You About)

Buying a condo in Ottawa is more than just picking the prettiest unit in your price range. From the building’s financial health to the fine print in the rules, there’s a lot buyers overlook—especially when they're buying their first place or relocating to the city. Here are some things we always check (and some things most people forget to) before recommending a condo.

Start with the building, not just the unit.
It’s easy to fall in love with a unit that’s beautifully staged, has great natural light, or even feels like it could be “the one.” But none of that matters if the building is poorly run or has a weak reserve fund. Your unit’s value is directly tied to the building’s condition—and if the condo board isn’t proactive, you could be stuck with special assessments or higher fees down the line.

The status certificate is your best friend.
This is the document that shows how much money is in the building’s reserve fund, whether any major repairs are coming up, and if the seller is behind on condo fees. It also outlines the condo rules—like pet restrictions, short-term rentals, or even limits on renovations. Always review it with a lawyer (we can connect you with one if needed).

Watch for signs of a red flag.
Low condo fees aren’t always a good thing. Sometimes, it means the building isn’t saving enough for future repairs. If the building is over 10 years old and the fees haven’t changed much, that’s a conversation worth having.

Other signs to look for:

• Elevators breaking down often or long wait times

• A history of lawsuits (this would show in the status certificate)

• Unfinished common areas or delays in promised amenities

• Units sitting on the market longer than average

Check what’s actually included in your fees.
Some buildings include heat, water, and even concierge services. Others cover very little. If you’re comparing two condos with different fees, make sure you’re comparing apples to apples—one might be higher because it includes utilities you’d otherwise pay out-of-pocket.

Don’t skip parking and storage details.
Not every unit comes with a parking spot or a storage locker—and even if they do, they’re not always owned. Some are rented, which means you’re at the mercy of availability and rental rates. And in some buildings, spots can only be sold to other unit owners.

Get to know the neighbours—sort of.
Ask your agent about who tends to live in the building. Is it mostly students? Retirees? Young professionals? Families? It can tell you a lot about noise levels, how well the building is maintained, and whether it fits your lifestyle.

Think long-term resale.
Even if this is your forever home, things can change. We always recommend choosing a building with a strong resale track record—close to transit, in a high-demand area, and with features that hold value like balconies, natural light, and well-managed amenities.

Not all condos are created equal—even in the same price range or neighbourhood.
Two units might have identical square footage and finishes, but if one’s in a better-run building or a more desirable location, it’ll be worth more when you sell. That’s why having someone who knows the ins and outs of the local market (and every building’s reputation) can make a huge difference.

Need help figuring out which Ottawa condo buildings are worth your time?
We’ve been through hundreds of units, toured every floor plan, and know which buildings are well-run—and which ones are better to skip. Reach out and let’s start narrowing it down together.

Ottawa Condo Living: What You Need to Know Before You Buy

Thinking about buying a condo in Ottawa? Whether you're a first-time buyer, relocating for remote work, or just looking to simplify your lifestyle, condo living in the capital can be a great move—but it’s not for everyone. Here’s what you need to know about condo ownership in Ottawa, how to decide if it's right for you, and what to watch for when choosing your new place.

Why Do So Many People Choose Condos in Ottawa?

Ottawa’s condo market has taken off in recent years—and for good reason. Condos offer a lower-maintenance lifestyle with built-in amenities and lower price points than most freehold homes. They're also typically located in the city's most vibrant neighbourhoods like Centretown, ByWard Market, Westboro, and Little Italy, where walkability, culture, and dining are part of the daily experience.

Plus, with a large government workforce, a growing tech sector, and a strong remote work trend, more buyers are prioritizing convenience, transit access, and lifestyle—all of which condos in Ottawa deliver.

What You Actually Own in a Condo

When you buy a condo, you’re not just buying your unit. You’re also buying a share of the common elements: hallways, the lobby, amenities like gyms or party rooms, and even things like the roof and foundation. That’s why your monthly condo fees go toward maintaining those shared areas.

It’s also why reviewing a building’s status certificate matters—this document outlines the building’s finances, reserve fund, and any upcoming repair costs that could result in a fee hike or special assessment.

Condo Fees: What’s Included and What’s Not

Condo fees in Ottawa vary, but they typically cover building maintenance, management, insurance, amenities, and sometimes heat or water. Newer builds with rooftop terraces, concierge services, pools, or gyms usually come with higher fees, while older or smaller buildings often keep things simpler—and cheaper.

What’s not included? Your property taxes, hydro, and contents insurance (think: your actual furniture and belongings). Always read the fine print so you know exactly what your monthly costs will be.

Freehold vs. Condo vs. POTL: What’s the Difference?

Condo living doesn’t always mean a high-rise. In Ottawa, you’ll also see POTL (Parcel of Tied Land) homes—often townhomes that look like freeholds, but with shared services like snow removal or lawn care. These strike a nice balance for buyers who want the aesthetic of a freehold without all the outdoor maintenance.

Not sure what you’re looking at? Ask your agent (or reach out to us—we’re happy to break it down).

Things You Might Not Think to Check

• Reserve Fund: A healthy reserve fund means fewer surprise costs down the road.

• Short-Term Rental Rules: If you’re thinking of renting out your unit on Airbnb, make sure the building allows it.

• Noise and Soundproofing: Concrete buildings usually have better sound insulation than wood-framed ones.

• Parking and Storage: Not all condos come with a spot—or they might cost extra. Same goes for storage lockers.

Ottawa Neighbourhoods Popular with Condo Buyers

• Centretown: Ideal for those who want a mix of walkability, culture, and city views.

• Westboro: A little more laid-back with a boutique, local feel.

• Little Italy: Great restaurants, easy transit, and access to Dow’s Lake and the Trillium Pathway.

• ByWard Market: Trendy and historic, perfect for foodies and night owls alike.

Final Thoughts: Is Condo Living Right for You?

If you like the idea of having less to maintain, being close to the action, and living in a space that suits your lifestyle, a condo might be exactly what you need. But it’s not a one-size-fits-all situation—so having someone who knows the ins and outs of each building and neighbourhood can make all the difference.

Ottawa Condo Market Statistics - March 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 March 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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The Ottawa real estate market continues to show signs of cautious stability as the spring market begins to bloom. According to the Ottawa Real Estate Board (OREB), 1,103 homes were sold through the MLS® System in March 2025—a 6.2% dip compared to the same time last year. While still down from historical averages, this figure points to a market that's finding its footing amidst economic uncertainty and lower interest rates.

“The Ottawa housing market in March 2025 remained relatively stable, with sales activity slightly lower than the same period last year,” said OREB President Paul Czan. “However, we’re seeing continued momentum month-over-month as the spring market gains traction.”

Sales Activity: Still Slower, But Stabilizing

Sales activity across Ottawa remains subdued compared to recent years. As of March 2025:

• Total sales YTD: 2,621

• That’s down from 2,721 in 2024 and well below the pandemic highs of 4,170 in 2021 and 3,967 in 2022.

• Compared to the five-year average, home sales were down 24%, and 19.3% below the 10-year average for March.

This represents the third consecutive year of March sales under 3,000, indicating a more balanced pace in the market. Many buyers and sellers are still exercising caution due to broader economic concerns and the upcoming election, but lower interest rates are gradually drawing more people back into the market.

Inventory Is Growing — Fast

One of the most notable shifts this year has been the rapid rise in available inventory. As of March 2025:

• Active listings: 3,769 (up from 2,372 in 2024 and 2,027 in 2023)

• New listings: 2,221 (a 4.1% increase from 2024)

• Months of inventory: 4.3 — up from 2.6 last year and the highest level since at least 2019

This marks a 60.3% surge in active listings compared to the same time last year, giving buyers more choice and putting slight downward pressure on competition.

OREB President Paul Czan highlighted how ongoing trade and tariff concerns may continue to affect new construction and supply:

“It’s critical that the City of Ottawa continues collaborating with key stakeholders. We were pleased to take part in discussions around the proposed New Zoning By-Law, which prioritizes housing options and opportunities to maximize options for Ottawa’s residents.”

Prices: Modest Gains, But Condos Lagging

Despite lower sales volume, home prices are showing steady—if modest—year-over-year increases in most categories:

• Overall MLS® HPI Benchmark Price: $626,200 (+2.2% vs. 2024)

• Single-family homes: $698,700 (+2.7%)

• Townhomes/row units: $431,200 (+3.0%)

• Apartments: $400,900 (–4.3%)

This reflects a cooling of the condo market, which surged during the pandemic but may now be facing stiffer competition from more available low-rise and freehold options.

What This Means for Buyers and Sellers

If you’re a buyer, there’s more inventory to choose from and slightly less competition than in recent years. With 4.3 months of inventory now on the market, you may have a bit more breathing room—though desirable properties are still moving quickly if priced right.

If you’re a seller, realistic pricing and proper presentation are key. The rise in inventory means your home needs to stand out, but motivated buyers are still very much active.

Looking Ahead

The Ottawa real estate market is not surging, but it’s not stalling either. It’s a market in motion—balancing economic hesitations with growing buyer confidence as interest rates soften. If you're planning a move this year, whether buying or selling, the early spring numbers suggest now is the time to act before competition heats up.

Want to talk about how to navigate the current market? Let’s connect and make a plan that works for you.

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.

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.