Is this sovereign real?

Yep, looks real to me. I have 4 Ottawa sovereigns (1908C, 1911C, 1917C and 1919C -- though the 1908C will be in the Heritage auction in Sep 2012). So you did luck out with that one! Congrats. Now, if you'd got a 1916C one ... THAT would have been something!

If you have other sovereign questions, let me know, as I collect this series.

 

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It is difficult to tell from a picture, but the deep obverse is normal. The only cautionary note is that George V sovereigns have been extensively forged, but the forgeries normally contain as much gold or even more than the genuine article. I am afraid the only way to be sure is to buy from a reputable dealer, which you seem to have done, and by gaining experience of seeing many such coins.