Month: June 2025

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Eastern Ontario REALTOR® Boards Reaffirm Commitment to Regional Collaboration Following KAREA Amalgamation Vote

On June 12, Members of the Kingston and Area Real Estate Association (KAREA) voted not to proceed with the proposed regional amalgamation alongside the Ottawa Real Estate Board (OREB), the Renfrew County Real Estate Board (RCREB), and the Rideau-St. Lawrence Real Estate Board (RSLREB).

While this decision means the most recent amalgamation proposal will not move forward as envisioned, it does not mark the end of regional collaboration. In fact, all four Boards continue to share key services, including professional standards and compliance, which provides education, clear reporting structures, and timely review and consistent application of rules and policies across the region.

Over the coming months, KAREA, OREB, RCREB, and RSLREB will continue conversations to determine the best path forward for their Members. Leaders from all four Boards remain committed to exploring greater ways to work together to meet the evolving needs of REALTORS®, enhance services, and create long-term value through strategic collaboration.

Paul Czan, President of the Ottawa Real Estate Board (OREB), emphasized the Board’s ongoing commitment to regional collaboration, noting that while OREB voted in favour of amalgamation, “our focus remains unchanged. We’re committed to building strong regional partnerships that raise the bar for professionalism and deliver enhanced tools and technologies, like PropTx, that support our Members’ success.”

Andrew Brotton, President of the Renfrew County Real Estate Board (RCREB), spoke to the Board’s continued momentum, saying, “We’ve always believed in the strength of working together. Renfrew County is focused on what comes next – finding practical ways to align our efforts and deliver value for REALTORS® across the region.”

Chris Wiltshire, President of the Rideau-St. Lawrence Real Estate Board (RSLREB), reaffirmed the importance of open dialogue, sharing that “we remain engaged in discussions about what regional cooperation can look like going forward. We’re optimistic about what’s possible when Boards remain open, respectful, and committed to shared progress.”

Mary Ambrose, President of the Kingston and Area Real Estate Association (KAREA), reflected on the decision and future opportunities, stating, “Our Members have spoken, and KAREA respects that decision. We value the relationships built through this process and look forward to continuing with shared professional standards and resolution offerings, while remaining open to future opportunities to work alongside our peers.”

This spirit of regional collaboration ultimately benefits not only REALTORS®, but also the communities they serve by creating a more seamless experience for buyers and sellers across Eastern Ontario and upholding consistent, trusted professional standards.

For questions, Members and the public are encouraged to reach out to their local association.

Ottawa Market Remains Steady as Delayed Spring Spurs Buyer Confidence

The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 1,807 units in May 2025. This represented a 33.1% increase from the previous month, but a more modest 14.9% increase from May 2024 and 2.5% above the five-year average.*

“Year-to-date home sales activity remains in line with 2024; however, the 33.1% surge over April 2025 suggests we’re experiencing a delayed spring market,” says OREB President Paul Czan. “April’s federal election took up real estate in consumers’ minds. Now, we’re seeing a shift in the marketplace, with active listings on the rise and months of inventory holding steady. Buyers appear to be gaining confidence, re-entering the market and transacting. For sellers, however, rising inventory means that competitive pricing and strong presentation are more critical than ever.”

“Compared to markets like Toronto or Vancouver—which are seeing signs of stagnation—Ottawa is holding steady,” adds Czan. “Buyers and sellers are still able to transact fairly, with sale prices remaining close to list, even amid broader economic uncertainty. And the Bank of Canada’s recent decision to hold the key interest rate steady may spur more activity, as buyers grow more confident, they’re not missing out on further downward movement.”

By the Numbers – Prices:

  • The overall MLS® HPI composite benchmark price was $629,800 in May 2025; a 0.8% rise compared to May 2024.
    • The benchmark price for single-family homes was $700,000, up 0.6% year-over-year in May.
    • By comparison, the benchmark price for a townhouse/row unit** was $446,900, an increase of 3.4% from 2024.
    • The benchmark apartment price was $404,700, a 3.6% decline from the previous year.
  • The average price of homes sold in May 2025 was $728,623 a 4.8% increase from May 2024.
  • The total dollar volume of all home sales in May 2025 amounted to $1.316 billion, a 20.4% increase 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 increased by 8.7% compared to May 2024, with 3,430 new residential properties added to the market. New listings were 15.8% above the five-year average.

  • Active residential listings totaled 4,347 units at the end of May 2025, reflecting a 13.5% surge from May 2024. Active listings were 54.2% above the five-year average.

  • Months of inventory remained steady at 2.4 in May 2025, unchanged from the same period last year. 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.

*Due to the transition to PropTx, OREB is momentarily unable to provide the 10-year average.
**In its classification system, the Canadian Real Estate Association (CREA) identifies townhouses under the subtypes “Att Row Townhouse” and “Condo Townhouse.”