Ottawa Real Estate Update: More Listings, Cautious Buyers, and What It Means for You

In January 2025, Ottawa’s housing market is showing signs of a turnaround. Although only 617 homes were sold—down 4.2% from January 2024—more properties are now entering the market. This increase in inventory suggests that sellers are starting to seize the moment.

OREB President Paul Czan noted that both buyers and sellers have been waiting for more favorable market conditions. Recent developments such as the Bank of Canada’s rate cut, along with external factors like U.S. tariffs and the upcoming provincial and federal elections, have introduced some variability.

Price trends offer a mixed picture. The overall MLS Home Price Index reached $649,900—a 5.2% rise from last January. Single-family homes are holding steady at a benchmark price of $713,000, up 2.3% year-over-year. In contrast, townhouse or row units have slipped slightly, with a benchmark price of $448,000 (down 3.9%), while apartment prices have ticked up 4.5% to $436,900. Additionally, the average sale price climbed to $670,258, reflecting a 5.8% increase, and the total dollar volume of sales reached $413.5 million, up 1.3%.

On the supply side, new listings are up by 3.0% from January 2024, totaling 1,359 for the month. More striking is the surge in active listings, which reached 3,312—an increase of 57.3% from the previous year and significantly above both five- and 10-year averages. Consequently, the months of inventory have expanded from 3.3 to 5.4, indicating that while there are more properties available, they may take a bit longer to sell.

Buyers are starting to re-engage with the market as more listings become available. The recent Bank of Canada interest rate cut in January 2025, lowering rates to 3%, has made borrowing more affordable, adding some optimism for those looking to purchase. While options are widening, buyers should still be mindful of the competition. Sellers, on the other hand, should be ready to price their properties competitively and present them well to attract attention in this evolving market.

Whether you’re planning to buy or sell, understanding these trends is key to navigating the current market successfully. With increased inventory and a slight cooling in sales pace, Ottawa’s real estate environment is becoming more balanced. Working with an experienced agent can help you make the most of these evolving market conditions. Contact me anytime.

What's Within a 15-Minute Drive of Century Manor Towers

In our previous blog post, we highlighted locations within a 10-15 minute walk of 1505 Baseline Rd, 1485 Baseline Rd, and 1465 Baseline Rd. These include several grocery stores (Loblaws, Food Basics), a variety of restaurants, pubs, cafes, pharmacies, banks, a Wal-Mart, an import grocer, a seasonal outdoor market, a post office, and an animal hospital. All of these are just a few minutes away by car as well.

Within a 15-minute drive, the range of goods and services accessible from Century Manor Towers is impressive. For those without a car, many of these locations are also reachable by a short bus ride. 

Notably, Ikea is within a 15-minute drive and offers delivery to 1505 Baseline Rd, 1485 Baseline Rd, and 1465 Baseline Rd.

To the West:
College Square features a Home Depot, grocery stores, various restaurants (including vegetarian-friendly options), barber shops, an LCBO, a vet, a pet store, and the famous Kettleman's Bagels.

To the South:
Merivale Road is a hub of shopping and dining options.

• Merivale Place includes Winners, The Shoe Company, Value Village, various restaurants (including sushi and burgers), and an internet cafe.

• Merivale Mall offers a plethora of additional shopping options. Nearby, you'll find a Best Buy and HomeSense.

• Further down Merivale Road, you'll encounter a Costco, Canadian Tire, pet store, and more.

Additional Points of Interest

Other notable destinations within a 15-minute drive include:

• Algonquin College: Ideal for students living at Century Manor Towers.

• The Civic Hospital: Located a short drive to the northeast, ensuring quick access to healthcare if needed.

Century Manor Towers offers convenient access to a wide range of amenities, making it an excellent place to live for both convenience and variety.

Walkability of Century Manor Towers

As mentioned in the Condos in Ottawa section, Century Manor Towers are a trio of well-run buildings in Copeland Park along Baseline Road: 1505 Baseline Road (Century Manor), 1465 Baseline Road (Manor Gardens), 1485 Baseline Road (Manor Square). All three of these amenity-rich condo apartments are a great choice for anyone who desires an area of the city with great walkability that isn’t too far out from the city’s core.

What’s within walking distance?

The following locations are within a 10-15 minute walk of 1505 Baseline, 1485 Baseline, and 1465 Baseline (Century Manor Towers):

Merivale Market

This shopping center features grocery stores (Loblaws and Food Basics), cafes, restaurants (including a pub), gyms, banks, and pharmacies, as well as a post office, and an animal hospital (of note, as of the writing of this blog post, City View Animal Hospital does accept pet emergencies during operating house, see the Condos in Ottawa page for more information on the pet policy in Century Manor Towers, and stay tuned for a future blog post on the subject).

Across Baseline Road from Merivale Market, still within a 10-15 minute walk from Century Manor Towers, you will find a full-sized Wal-Mart, salons, and a few more restaurants of varying cuisine, including the Burger’s Priest.

A few other noteworthy destinations within a 15 minute walk:

The Nepean/Merivale Night Market during the spring, summer, and fall (food vendors, live music, fun for kids, depending on the event).

Bleeker Mall features a European import grocer, a thrift store, a comic book store, a pub (Local Heroes), and a M&M Food Market.

With everything you need just a short walk away, Century Manor Towers in Copeland Park is perfect for convenient and comfortable living. From grocery stores and gyms to restaurants and local markets, you’re never far from what you need.

1505 Baseline Rd, 1485 Baseline Rd, and 1465 Baseline Rd all offer underground parking. With the next blog post, we’ll explore the astounding number of noteworthy destinations that are within a 10 minute drive of Century Manor Towers (or a short bus ride).

3 Reasons to Consider a Home in South Keys

Ottawa is a vibrant city with diverse neighbourhoods, each offering something unique. If you're searching for a place that seamlessly blends convenience, affordability, and an active lifestyle, then look no further than South Keys! Here's why South Keys might just be the key to unlocking your perfect Ottawa experience:

1. Convenience at Your Doorstep:

Forget the long and costly commutes – with the OC Transpo Transitway and O-Train Line 1, getting around the city is a breeze. Leave the car at home and hop on a bus or train. Additionally, the airport is connected to the newly extended O-Train (re-opening this Fall, 2024).

But convenience goes beyond just transportation. Right in the heart of the neighbourhood lies the South Keys Shopping Centre, a major shopping hub brimming with stores, restaurants, and a movie theatre. Imagine grabbing groceries, catching a movie, and enjoying a delicious dinner – all within walking distance for many residents!

2. Affordability that Makes a Difference:

Living in Ottawa doesn't have to break the bank. South Keys offers a refreshing alternative to pricier areas, with a variety of housing options to suit all budgets. Whether you're looking for a cozy apartment, a spacious townhouse, or even a single-family home, South Keys allows you to invest in your dream home without sacrificing the convenience of urban life. This financial flexibility frees you up to explore the city, pursue hobbies, or simply enjoy a comfortable standard of living.

3. Unleash Your Inner Explorer on Multi-Use Pathways:

South Keys might surprise you with its dedication to fostering an active lifestyle. Forget expensive gym memberships – lace up your shoes and hit the Sawmill Creek or Pushman Pathways, both routes wind their way through serene parks and friendly neighbourhoods - On the West end of the Pushman Pathway, you will find the Greenboro Library, one of the most modern and spacious libraries in the capital. These scenic multi-use pathways are perfect for a morning jog, an evening bike ride, or a leisurely stroll with your furry friend. 

South Keys isn't just about convenience and affordability; it's about embracing an active lifestyle and connecting with nature. It provides the perfect environment to unwind and recharge.

So, if you're seeking a convenient and affordable lifestyle with easy access to a network of multi-use pathways, stunning natural spaces, and a vibrant community, then South Keys might just be the ideal area for your Ottawa home!