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What Just Happened with Interest Rates & the Real Estate Market in Ottawa?

Author

Cale Botha
March 12, 2025

Hi ,

I only send these emails out on Thursdays, but this needs to be discussed now.

Interest rates have just gone down, and average home prices have gone up since February 2024.

My news feed has been blowing up today, so here’s everything you need to know.

Part 1 - Borrowing Money For a Home Just Got Easier

As expected, the Bank of Canada has reduced its benchmark interest rate by 25 basis points to 2.75% to counteract the economic impact of U.S. tariffs.

Expect residents to refinance, buy more homes, and see more new listings go live in the next couple of weeks to months.

Part 2 - Current Ottawa Residential Real Estate Market

February 2024 - February 2025

  1.  Average Sales Price: The average sale price has increased by 1.4% to $669,945.

  2. Good Market?: It’s a balanced market, which is a good sign. Buyers need to act quickly on well-priced homes.

  3. Immense Competition : There was a 61.4% increase from February 2024, with 3,735 homes actively for sale at the end of February 2025.

What’s This Mean For You:

The market is becoming more competitive for both buyers and sellers. With interest rates dropping, more transactions are expected, and average sales prices may continue to rise year over year. You’ll likely see more sales and more listings at the same time.

“You Don’t Know What You Don’t Know.”

If real estate is your biggest asset, why not treat it like one?

We should take the time to address all potential issues before they become irreversible financial burdens.

Whether you’re buying or selling, respond to this email to schedule a no-pressure, zero-hassle home sale consultation and remove any stress or tension as you get closer to making that big decision.

Thank you!

Thank you for reading this week’s edition of my newsletter. I look forward to consistently bringing you helpful real estate insights and being your one-stop shop for anything real estate.

Best regards,

Cale

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