January Real Estate Statistics

January brought a more balanced start to the year across Ottawa’s housing market, with inventory levels continuing to rise while prices softened slightly compared to both last month and last year.

Across all residential property types, the average sale price settled at $641,436, down modestly month-over-month and year-over-year. At the same time, active listings are up over 22% compared to last year, giving buyers significantly more choice than we’ve seen in recent winters.

We’re also seeing homes take longer to sell, with the average time on market now around 49 days, compared to roughly 42 days last year. This trend is consistent across property types and reflects buyers taking more time to evaluate options and negotiate.

Looking at individual segments:

Single-family homes remain relatively stable in price, but inventory has increased, giving buyers more leverage than in previous years.

Townhomes continue to offer strong value, though listings have jumped sharply year-over-year, creating more competition for sellers.

Condo apartments are experiencing the most pressure, with prices down more noticeably year-over-year and higher inventory levels extending selling timelines.

Overall, we’re seeing a market that is healthier and more balanced, rather than overheated. Buyers benefit from increased selection and negotiating room, while sellers need to be realistic on pricing (perhaps even aggressive) and presentation to stand out.