March 2025 – Ottawa Real Estate Board

Eastern Ontario Board Amalgamation Will Not Proceed at This Time

The Boards of Directors of the associations that approved the amalgamation thank all Members who participated in the vote. While the Ottawa Real Estate Board (OREB) and the Renfrew County Real Estate Board (RCREB) voted in favour, the Members of the Kingston and Area Association of REALTORS® (KAREA) did not approve the resolution. The proposed formation of the Eastern Gateway Association of REALTORS® will not move forward at this time.

Following the Kingston vote, the motion to amalgamate was subsequently withdrawn by the Cornwall and District Real Estate Board (CDREB) and the Rideau-St. Lawrence Real Estate Board (RSLREB) before the meetings took place. However, a non-binding vote in RSLREB, along with the positive results in Ottawa and Renfrew County, clearly demonstrates that there is interest in a regionalized approach.

The Task Force met late Friday night and, while disappointed in the outcome, agreed that it is clear the majority of Members want to continue the conversation about Eastern Ontario amalgamation.

Although this is not the outcome that was anticipated, association leaders remain optimistic about future collaboration. Erin Finn, past-president of KAREA and Task Force Member, reflected on the discussions that have taken place throughout this process. “Our Members have demonstrated a strong commitment to shaping the future of organized real estate. While we won’t be moving forward with this specific plan, we look forward to finding new ways to collaborate in the near future.”

While this result is disappointing, the discussions sparked by this process have been valuable. Curtis Fillier, past-president of OREB and Task Force Member, acknowledged that collaboration remains a priority. “We’ve seen great engagement from our Members, and while this specific plan will not proceed, we remain committed to finding ways to work together for the benefit of all.”

The need for a strong, unified approach to supporting REALTORS® in the region remains. Amanda McParland, past-president of RCREB and Task Force Member, emphasized that “Our industry is evolving, and the conversations we’ve had throughout this process have reinforced the importance of aligning our resources. While this particular proposal is not moving forward, we are committed to exploring other opportunities for collaboration.”

While this proposal will not proceed, the Boards of Directors remain committed to enhancing services, supporting Members, and exploring future opportunities. Further discussions will take place in the coming months to determine next steps.

We also understand that Cornwall will be discussing amalgamation at their upcoming AGM, and we look forward to hearing your feedback.

In the meantime, we will continue to work closely with the other Boards and Associations through the class action lawsuit, PropTx, and Phase 3 of the Trust in Real Estate Services Act (TRESA).

OREB Members Vote in Favour of Amalgamation

On Wednesday, March 19, 2025, the Ottawa Real Estate Board ()REB) held a Special Meeting of Members to vote on the proposed amalgamation between Ottawa Real Estate Board (OREB), Cornwall and District Real Estate Board (CDREB), Kingston and Area Real Estate Association (KAREA), Renfrew County Real Estate Board (RCREB), and Rideau-St. Lawrence Real Estate Board (RSLREB). The special resolution required a two-thirds majority to pass, and the vote carried with 80.94% in favour.

This marks a significant milestone in the journey toward unifying over 5,200 REALTORS® across Eastern Ontario. We sincerely thank all OREB Members who participated in this important decision. Your participation – through town halls, discussions, and your vote – has shown a commitment to the future of our profession.

The next steps in this process include awaiting the results from the CDREB, KAREA and RSLREB. Yesterday, RCREB voted, and the resolution was approved. Should all five boards vote in favour, we will move forward with forming the transition board.

As we approach the official amalgamation date of October 1, 2025, the documents presented at the Special Meeting will be refined and finalized, with the final version submitted no less than 30 days before the integration.

Thank you for your participation and commitment to shaping the future of real estate in Eastern Ontario. We look forward to sharing more updates as we progress through this transition.

Ottawa Real Estate Market Holds Steady Amid Changing Conditions

The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 809 units in February 2025. This represented a 10.2% decline from February 2024.

Home sales were 19.1% below the five-year average and 15.4% below the 10-year average for the month of February.

“Ottawa’s sales activity moderated while prices held steady,” says OREB President Paul Czan. “Despite increased inventory, market uncertainty continues to influence buyer and seller decisions. Some sellers who had previously delayed listing are now entering the market, contributing to more options for buyers. While demand remains strong in certain price segments, the pace of sales varies, making strategic pricing and preparation key for sellers.”

“The Bank of Canada’s influence on borrowing power, ongoing economic factors like tariffs, and the potential impact of upcoming elections are also shaping buyer and seller sentiment,” adds Czan. “As we approach the spring market, we anticipate increased buyer activity, particularly if interest rates trend downward and confidence continues to build.”

By the Numbers – Prices:

The average price of homes sold in February 2025 was $669,945, a 1.4% improvement from February 2024.
The total dollar volume of all home sales in February 2025 amounted to $541.9 million, an 8.9% drop compared to the same period last year.

OREB cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Prices will vary from neighbourhood to neighbourhood.

By the Numbers – Inventory & New Listings:

The number of new listings rose by 4.8% compared to February 2024, with 1,668 new residential properties added to the market. New listings were 10.8% above the five-year average and 6.7% above the 10-year average for the month of February.
Active residential listings totaled 3,735 units at the end of February 2025, reflecting a substantial 61.4% surge from February 2024. Active listings were 95.7% above the five-year average and 51.4% above the 10-year average for the month of February.
Months of inventory stood at 4.6 at the end of February 2025, compared to 2.6 in February 2024. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.