October Real Estate Statistics

Ottawa’s fall market is showing a steady trend, with prices edging upward and inventory levels balancing out across property types.
 
Residential homes averaged $709,002, up 2.7% from last month and 5.7% year-over-year. Homes are taking slightly longer to sell, with an average of 26 days on market, while active listings jumped 21% compared to last year, giving buyers a bit more breathing room than we saw earlier this year.
 
Breaking it down by property type:
 
Single family homes remain the top performer, with an average price of $854,078, up 6.5% year over year. With 3.2 months of inventory, this segment continues to lean toward a balanced market, though demand remains solid for homes that are priced and show well.
 
Townhomes averaged $556,302, nearly unchanged from last month and down 1.2% year over year. Inventory climbed to 3.0 months, indicating a shift toward more choice for buyers after a tight few years.
 
Condos saw an average price of $437,482, up 3% month over month and 4.5% year over year. With 5.6 months of inventory, this segment is the most balanced of the three, offering opportunities for both first time buyers and investors. Sellers need to be conscious of the volume of inventory and be priced aggressively.
 
Overall, Ottawa continues to show resilience, steady pricing, a bit more supply, and realistic timelines for both buyers and sellers. Compared to the rest of the country, slow and steady wins the race.
 
If you’re curious about how these trends might affect your specific neighbourhood or property type, let’s connect. The right strategy makes all the difference in this evolving market.