November 24, 2025
Over the last couple of years, Canada’s real estate market has seen a lot of change. After a series of interest rate hikes, activity in many markets slowed down. Affordability became a growing concern, and luxury home sales in cities like Toronto and Vancouver started to cool off. But in the middle of all this, something interesting happened in Ottawa.
While most of the country’s high-end housing market lost momentum, Ottawa quietly went in the opposite direction.
Recent data from Royal LePage Carriage Trade Luxury Market Report shows that luxury home sales in Ottawa actually increased by 13% in 2024, even as other major markets saw declines. Vancouver’s luxury sales dropped by 39%, and Toronto’s were down by 5%.
In a year when most luxury markets pulled back, Ottawa stood out—not just for staying steady, but for growing. As interest rates began to drop and buyer confidence picked up in 2025, the city’s upscale housing market gained real momentum—a trend expected to continue through 2026. Ottawa may not always get the same attention as Toronto or Vancouver when it comes to luxury real estate, but right now, it’s showing it deserves a closer look.
IIn Ottawa, luxury real estate typically falls into two tiers: homes priced between $1 million and $1.99 million, and those above $2 million. Often considered the entry point to luxury, both segments have seen solid growth—especially compared to other major Canadian cities.
The numbers speak for themselves. In 2024, homes in the $1–$1.99M range saw an 8% increase in prices, while sales in the $2M+ category rose by 17%. And that momentum has carried into 2025, with strong buyer demand and multiple-offer scenarios returning for the right listings.
While other markets have faced volatility, Ottawa has stayed on a more stable course. Prices are trending upward, inventory remains manageable, and local demand is strong. There’s also a noticeable rise in the quality of listings—modern architecture, thoughtful design, and smart home features—all at price points that offer significantly more value than similar homes in Toronto or Vancouver.
Ottawa Offers Unmatched Value for Luxury Buyers
Ottawa’s luxury real estate market stands out for a few key reasons:
In short, Ottawa hasn’t just weathered the national housing slowdown—it’s come out ahead, offering rare opportunities for both buyers and investors looking for steady growth and lasting value.
Ottawa's luxury real estate market has demonstrated remarkable resilience, underpinned by several key local factors:
1. Predominantly Local Buyer Base
Unlike markets heavily influenced by foreign investment, Ottawa's luxury real estate is primarily driven by domestic buyers. The city's robust roster of entrepreneurs, tech professionals, and top-level federal employees and officials continues to fuel demand for high-end properties.
2. Economic Stability and Growth
Ottawa's economy benefits from a stable public sector and a burgeoning tech industry. The public sector contributes significantly to the city's economic foundation, while the tech sector has seen substantial growth, attracting high-income professionals and bolstering the housing market.
3. Continued Development of Luxury Homes
Despite rising construction costs, Ottawa's builders have maintained a steady supply of modern, high-end homes and villas. Innovative designs and quality craftsmanship continue to attract discerning buyers seeking luxury properties in the capital.
In summary, Ottawa's luxury real estate market thrives due to its strong local buyer base, minimal reliance on foreign investment, stable economic environment, and ongoing development of high-quality homes. These factors collectively position Ottawa as a resilient and attractive market for luxury real estate investors and buyers.
One of the key reasons Ottawa’s luxury real estate market has remained so resilient is the balance between limited inventory and strong local demand.
In mid-2024, the city had just 2.5 months of housing inventory across all price points, well below the 4-month benchmark that typically signals a balanced market. That’s a notable improvement from the extreme lows seen in 2022, but still tight enough to give sellers a slight advantage—especially in the luxury segment. Despite rising construction costs, Ottawa’s luxury builders didn’t back down. Throughout 2024, they continued delivering new, high-end homes, particularly modern block-style designs in desirable neighbourhoods. According to reports, this wave of new construction helped boost luxury inventory levels and gave buyers more options—without tipping the market into oversupply. Still, buyers remained active. In early 2025, experts described the market as “busy and competitive,” with multiple-offer scenarios returning for well-priced properties. Listings in the $1M+ category were being snapped up quickly, showing that demand remains strong and confident—even as the broader market cools. This balance between steady supply and healthy demand has kept prices stable—and in some cases, nudged them upward. For sellers, it means opportunity. For buyers, it’s proof that Ottawa remains one of the rare Canadian markets where luxury real estate is both competitive and promising.
Meanwhile, Toronto and Vancouver are seeing different dynamics. In Toronto, some developers have taken a cautious approach to launching new luxury builds, concerned about economic uncertainty and market saturation in the $3M+ range. In Vancouver, luxury listings are staying on the market longer. While there’s no outright oversupply, the volume of available properties has grown faster than demand, particularly at the high end.
Compared to these cities, Ottawa’s mix of strategic new builds and strong local demand has created a healthier market dynamic—keeping prices firm and buyer activity steady without overheating.
Year | Key Events |
2022 | Record-low inventory, luxury market cooling nationally |
2023 | Interest rates peak, Toronto & Vancouver decline begins |
2024 | Ottawa sales rise by 13%, new construction supports demand |
2025 | Buyer confidence returns, Ottawa luxury poised for breakout |
While Ottawa hasn’t always been top of mind when it comes to luxury real estate in Canada, 2024 and early 2025 have shown that’s changing. Quietly but steadily, the capital has positioned itself as one of the country’s most stable, value-rich markets for high-end homes.
Sales are up. Prices are holding firm. And demand is being driven by local, well-qualified buyers—not speculative foreign investment. At a time when other markets are adjusting or pulling back, Ottawa’s luxury sector is proving remarkably resilient.
If current trends continue, 2025 could be a breakout year for luxury real estate in the capital. More buyers are looking at Ottawa not just for lifestyle, but as a smart, long-term investment.
For home sellers, now may be the ideal time to list while inventory remains tight and buyer interest is strong.
For home buyers, this could be the moment to secure a standout property in a city that’s still offering more value than its peers.
As Ottawa's luxury real estate market continues to thrive, there's no better time to explore the opportunities it offers. Whether you're looking to buy or sell a high-end property, aligning with expert real estate professionals can make all the difference.
At Sezlik.com, we specialize in Ottawa's most prestigious neighborhoods, offering unparalleled service and expertise. Our team is dedicated to understanding your unique needs and delivering results that exceed expectations.
Don't miss out on this dynamic market—connect with us today to begin your journey in Ottawa's luxury real estate landscape.
Frequently Asked Questions About Ottawa’s Luxury Real Estate Market
What is considered a luxury home in Ottawa?
In Ottawa, luxury homes typically begin at $1 million, with high-end properties commonly priced above $2 million. These homes often include upscale architecture, modern smart features, premium finishes, and prime locations near top schools and amenities.
Why is Ottawa’s luxury market growing while others slow down?
The city’s growth is fueled by a predominantly local buyer base, a resilient public sector, a thriving tech industry, and a steady pipeline of modern, high-end home construction. These factors provide Ottawa with a more balanced and stable market than cities like Toronto and Vancouver.
Is Ottawa’s luxury market competitive in 2025?
Yes. Early 2025 data shows a busy and competitive market, with multiple-offer scenarios returning for well-priced luxury listings. Tight inventory and high demand continue to create opportunities for both buyers and sellers.
How does Ottawa compare to Toronto and Vancouver for luxury real estate?
Compared to Toronto and Vancouver, Ottawa offers better value per square foot, newer construction, and greater long-term stability. While other cities face slower sales and cautious development, Ottawa’s market remains active and well-balanced.
Is now a good time to buy or sell a luxury home in Ottawa?
Absolutely. For sellers, low inventory means more competitive offers. For buyers, Ottawa still offers undervalued opportunities in a growing luxury market. With interest rates stabilizing, 2025 could be a breakout year.
How can Sezlik.com help me with luxury real estate in Ottawa?
Sezlik.com is a leading expert in Ottawa’s high-end real estate market. Whether you’re looking to buy a dream home or sell a premium property, our team provides white-glove service, deep local knowledge, and a tailored approach to maximize results in this competitive segment.
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