Ottawa’s Million-Dollar Market: What 2025 Revealed About Luxury Demand

Key Takeaways

• Ottawa’s $1M+ segment expanded meaningfully in 2025, based on Engel & Völkers report data reported by CTV News Ottawa.
• $1M–$1.99M is a broad upper-market band, not automatically ultra-luxury.
• The $2M–$3.99M range is a stronger luxury signal because it is narrower and less liquid.
• $4M+ activity remained rare but visible.
• Value is increasingly judged street by street.
• Brokerage report data is useful but should not be presented as official OREB/CREA luxury-tier data.

What The Source Said

According to CTV News Ottawa’s reporting on Engel & Völkers’ 2025 Year-End Canadian Luxury Real Estate Market Report, Ottawa saw a nearly 40% increase in homes sold above $1M in 2025.

• Homes sold between $1M and $1.99M reportedly increased 33%, with 1,533 sales in that band.
• The report said 115 homes sold between $2M and $3.99M.
• Sales in the $2M–$4M range reportedly increased from 69 in 2024 to 115 in 2025.
• Six homes reportedly sold above $4M in 2025, and the report put the highest Ottawa sale price of the year at $5.6M.
• CTV also reported Redfin examples: a Grandview Road home selling for $5M and a Clemow Avenue home selling for $4.3M in December.
• New listings in the $2M–$3.99M range were reportedly up 76%.
• The report projected a 5% increase in average sale prices for million-dollar home sales in 2026.
• The report linked stabilization to Ottawa’s employment base, professional workforce, infrastructure and transit improvements, and limited new inventory.

What This May Suggest

Ottawa’s upper-market segment appears more active, but not indiscriminate. Buyers are likely separating strong properties from overpriced or poorly positioned ones. Neighbourhood, renovation quality, lot, privacy, floor plan, waterfront, heritage, and estate features all matter — the reported growth should be read as demand for specific qualities, not for anything priced above $1M.

Why This Matters To Readers

For buyers, $1M+ does not automatically mean luxury — in Ottawa, that band includes a wide range of ordinary upper-market homes. For sellers, demand exists but pricing must be disciplined. For relocating professionals, the data suggests Ottawa’s higher-end market is becoming more visible and more segmented, which makes neighbourhood-level understanding more valuable, not less.

Buyer Implications

• Compare by micro-neighbourhood, not by citywide averages.
• Understand the difference between $1M+, $2M+, and $4M+ — they are different markets.
• Evaluate renovation quality and floor plan, not just price band.
• Do not rely only on citywide averages.
• Ask what makes a property scarce or durable.

Seller Implications

• An active market does not mean an easy market.
• Buyers are informed.
• Overpricing can hurt momentum.
• Presentation, condition, timing, and street-level value matter.

What To Watch Next

• Whether $1M+ sales keep growing.
• Whether $2M–$3.99M sales remain active.
• Whether $4M+ sales remain rare or become more frequent.
• Whether limited new inventory supports pricing.
• Whether infrastructure/transit and employment stability keep supporting demand.