Ottawa’s Spring Market Stays Cool

Through the first half of 2025, nearly every neighbourhood in Ottawa has stayed in underbidding territory, with 95% selling below asking in Q2, according to Wahi.

By Kristin Doucet | 2 minute read

Just five Ottawa neighbourhoods saw homes sell above asking in the second quarter of this year.

Homes continued to sell just under asking in most Ottawa neighbourhoods this spring, reflecting steady demand in a balanced market, according to new data from real estate brokerage and listing platform, Wahi.

In Q2 2025, the median-priced home in Ottawa sold for $9,000 below asking, with 95% of neighbourhoods seeing homes sell for under list price. That is up slightly from 93% in Q1, reinforcing a trend of modest underbidding across the city.

While bidding wars remain the exception, the gap between list and sold prices was relatively narrow in most areas, suggesting buyers and sellers are still finding common ground.

Only five neighbourhoods saw homes sell above asking. Champlain Park led the way with a median $22,100 over list price, followed by Lindenlea, Trend-Arlington, Braemar Park – Bel Air Heights – Copeland Park, and Crystal Bay – Lakeview Park.

These pockets stood out with above-asking sales, despite overall market softness, likely driven by low inventory and stronger demand from buyers seeking homes in central, well-established neighbourhoods.

Carp Ridge saw the largest difference between list and selling price, with homes going for $47,200 below the asking price. Other rural or outlying areas like Manotick, Pierces Corners, Kinburn, and Fitzroy also saw homes sell well under asking.

Buyers appear to be negotiating more aggressively in areas with longer commutes or fewer nearby amenities.

“While most Ottawa neighbourhoods saw homes sell below list price this spring, the price gaps remained modest,” says Benjy Katchen, CEO of Wahi. “The market continues to show signs of balance, where buyers have room to negotiate but sellers are seeing the gap narrow between list and sold price.

Conditions Remain Balanced, With Room to Negotiate

Ottawa’s housing market stayed balanced in Q2 2025, with most neighbourhoods seeing homes sell below asking. Still, the median difference of $9,000 was relatively small. For buyers, that meant some room to negotiate, particularly in suburban and rural neighbourhoods. For sellers, strong pricing remained key as most homes sold close to list and bidding wars were uncommon.

How Wahi Ranks Ottawa’s Overbidding and Underbidding Neighbourhoods

Each quarter, Wahi compares the differences between median list and sold prices to determine whether neighbourhoods are in overbidding or underbidding territory, excluding those neighbourhoods with fewer than five transactions over the study period. A total of 90 neighbourhoods out of Ottawa’s approximately 98 met this threshold in Q2, up from 91 in Q1. Data is sourced from the Ottawa Real Estate Board and Information Technology Systems Ontario.

The top overbidding and underbidding neighbourhoods are ranked by the median overbid or underbid amount. The median overbid and underbid amounts are calculated by subtracting the list price from the sold price of each individual listing in a given neighbourhood. These are then ranked by the median of all subtractions and presented as the median overbid or underbid amount.