Market Update July 2025

Posted by admin on August 11, 2025

Market Update

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Market Insight

The Ottawa real estate market is showing modest gains as we move through the second half of 2025. A total of 7,699 homes have sold year to date, up nearly 3% from the 7,535 sold by this time last year. Average prices are also climbing, now sitting at $714,464, a 3% increase from 2024. While homes are still moving fairly quickly, the average days on market has inched up slightly to 33 days. The share of homes selling above asking has dipped just a bit, from 20.4% last year to 19.6%, indicating that while demand remains steady, buyers are approaching with a bit more caution.

In Lanark, activity has picked up compared to last year. So far, 813 homes have sold in 2025, a 7% increase from the 760 sold at this point in 2024. Prices continue to edge upward, with the average sale price now at $586,944, a 2% bump from last year. Sellers are seeing slightly less bidding competition, with 15.5% of homes selling over asking, down from 15.7%, but homes are moving faster overall, with average days on market dropping from 51 to 47.

Overall, both Ottawa and Lanark are seeing a steady, balanced market. Prices are gradually rising, sales activity is holding strong, and while buyers may be taking a bit more time to decide, they’re still very much engaged.

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