Average Ottawa home sale price holds steady in February

A new home is shown for sale in a housing development in Ottawa on Tuesday, July 14, 2020.THE CANADIAN PRESS/Sean Kilpatrick

The Ottawa Real Estate Board says the average sale price of homes sold in the city last month held steady compared to the month before.

The average sale price in February was $669,945, down slightly from $670,258 in January. February prices are up 1.4 per cent compared to the year prior, however.

Home sales were 10.2 per cent below February 2024 figures, with 809 units sold in February 2025.

OREB President Paul Czan said sales activity moderated while prices held steady last month.

“Despite increased inventory, market uncertainty continues to influence buyer and seller decisions. Some sellers who had previously delayed listing are now entering the market, contributing to more options for buyers. While demand remains strong in certain price segments, the pace of sales varies, making strategic pricing and preparation key for sellers,” he said.

“As we approach the spring market, we anticipate increased buyer activity, particularly if interest rates trend downward and confidence continues to build.”

The number of new listings rose by 4.8 per cent compared to February 2024, with 1,668 new residential properties added to the market, OREB said. New listings were 10.8 per cent above the five-year average and 6.7 per cent above the 10-year average for the month of February.