Ottawa's housing market remained balanced in May. Activity picked up from April — as it typically does in spring — but overall sales continue to run below last year's pace. The good news: prices are holding steady, and both buyers and sellers can find opportunity here if they approach the market with the right strategy.

Not All Properties Are Equal: The market tells three different stories depending on what you're buying or selling:

Single-Family Homes 🏡 The strongest segment. Prices are essentially unchanged year over year, and the median sale price actually rose 1.3% to $800,000. With only 2.7 months of inventory, demand remains solid.

Townhomes 🏘️ Still active, but softening. Sales are down 14.3% year over year and inventory has climbed. Prices have eased modestly — the benchmark sits at $557,500, down 3.2% from last May. Buyers have more negotiating room than a year ago; sellers need to price sharp.

Condos & Apartments 🏢 The most price-sensitive segment right now. The benchmark price of $385,500 is down 6.7% from May 2025, with 4.8 months of inventory — the highest of any property type. Buyers have real leverage here. Sellers need expert pricing and presentation to stand out.

 WHAT THIS MEANS FOR YOU

 If you're thinking of selling… This is not a market where any price will work. Strategic pricing from day one is essential — overpriced homes are sitting. The right preparation and the right number, however, still attract serious buyers. Single-family homeowners in particular remain in a position of strength.

If you're thinking of buying… You have something buyers haven't had in years: time. More inventory, less competition, and stable prices mean you can be thoughtful rather than reactive. This is especially true if you're considering a condo or townhome, where conditions have shifted meaningfully in your favour.

If you're thinking of rightsizing… Perhaps the family home has more space than your life currently requires. The current market is genuinely well-suited to this kind of transition — strong value on the home you're selling, real choice on what you're moving into. It's worth having the conversation.

Spring activity is building in Ottawa’s housing market, which continues to remain nicely balanced for both buyers and sellers. In April, 1,336 homes sold — a modest 1.9% decrease from the same month last year, but a healthy increase from March. Year-to-date sales are running slightly behind 2025, but the recent uptick suggests the market is gaining momentum as the season progresses.

Supply has increased, giving buyers more options. New listings jumped 19.3% to 3,258, pushing total active listings to 4,535 (up 17.2% from last April). Homes are taking a little longer to sell — the median days on market rose to 21 days — and the sales-to-new-listings ratio sits at 41%, which points to balanced market conditions.

Prices remained stable. The average sale price was $712,184 (up just 0.8% from last year), while the median price held steady at $650,000. Benchmark prices have also begun to stabilize after earlier softness, with most property types showing modest month-over-month gains.

Inventory currently sits at approximately 3.4 months overall (Single-family: 3.1 months, Townhomes: 3.0 months, Apartments: 4.9 months). This level of supply gives buyers more choice and flexibility while keeping competition reasonable for sellers.

Regionally, suburban areas (especially the west) remain the most stable and active. Ottawa Centre is softer, largely due to higher condo inventory, while rural markets continue to offer more buyer-friendly conditions with longer selling times.

Looking ahead, the market is finding its footing after a slower winter. With interest rates holding steady and more listings coming to market, Ottawa continues to show good stability. Inventory levels will be the key factor to watch in the coming months.

Overall, it’s a balanced spring market that offers opportunities for both buyers and sellers. If you’re thinking about buying or selling this year, now is a great time to have a conversation about how these conditions affect your specific situation.

Despite ongoing economic uncertainty, Ottawa continues to demonstrate relative stability. Prices have remained in a narrow range and demand, while measured, continues to support balanced conditions rather than any sharp shift in either direction.

Ottawa’s residential market continued its winter slowdown in February, with overall sales remaining well below the five-year average of 990 transactions for the month. The slowdown, however, is not uniform across segments, and the data tells a more nuanced story than the headline numbers suggest.

Average condo apartment prices rose month over month while inventory measures eased, signalling what may be an early shift in a segment that has carried elevated supply since late 2025. Townhomes saw the most turnover of any segment, with sales activity running stronger than typical February levels even as rising inventory placed downward pressure on prices. The single-family market remained comparatively stable, with pricing holding relatively steady despite a drop in total sales. The data suggests significant competition for listings at lower price points.

With CREA forecasting a gradual strengthening in demand throughout 2026, we can likely expect continued balanced market conditions even as we approach a more active spring market.

“Benchmark prices moved higher in February across every segment, and demand remained active where affordability allows, creating a more balanced environment,” said Tami Eades, President of the Ottawa Real Estate Board. “Buyers are gaining a little more breathing room to make thoughtful decisions, while sellers continue to see consistent momentum. The conditions that kept many buyers cautious over the past year are gradually shifting. Spring is shaping up to be a meaningful window for those who are ready to act.”

Residential Market Activity

In February, 780 residential properties sold in Ottawa, down 6.8% from February 2025. Activity improved from January’s 610 transactions, though sales remained 21.2% below the five-year February average of 990 and 17.8% below the ten-year average of 949. This makes the current winter one of the slowest of the past decade. Even so, demand has not disappeared. Buyer activity remains present, particularly at lower price points, with elevated inventory and ongoing affordability considerations contributing to longer decision timelines.

Pricing trends reflected this environment. The average residential sale price in February was $662,773, down 1.0% year over year, while the median price declined 3.1% to $615,450. Both movements remain modest in scale and are consistent with a market adjusting to elevated supply rather than one experiencing broad-based downward pressure. With months of inventory easing to 3.8 from January’s 4.4 as seasonal sales activity increased, Ottawa continues to operate in balanced territory.

The MLS® Home Price Index provides important context. Benchmark prices remain below year-ago levels, but February recorded month-over-month increases in the composite, single-family, townhouse, and apartment benchmarks compared to January. Because the HPI controls for seasonality and changes in the mix of sales, these gains reflect genuine upward movement in market valuation rather than simply the typical increase in pricing that accompanies the approach of the spring market. This suggests that, despite a slower-than-usual winter, pricing momentum is beginning to firm across segments.

Prices and Market Balance

New listings in February totalled 1,582, down 7.8% from February 2025 but up from January’s 1,522. Active listings reached 2,928 units at month end, an increase of 11.1% year over year and well above levels seen in recent February periods.

The broader inventory base is giving buyers more properties to consider at any given time, which is reducing urgency. At the same time, improved sales activity and rising month-over-month benchmark prices indicate that underlying demand remains present. Inventory is higher than seasonal norms, but it is being absorbed in a way that is keeping pricing and overall market balance steady.

Months of Inventory:

• Single Family: 3.8

• Townhome: 2.7

• Apartment: 5.6

Looking Ahead

February’s data reinforces what January initially indicated: Ottawa is in a period of transition. This winter has been slower than the past few years, but the combination of firmer month-over-month HPI benchmarks, improving apartment absorption, steady townhome turnover, and relatively stable detached pricing suggests that demand is stable. Buyers continue to operate with more time and more choice than in recent years.

February 5, 2026

Market Overview

Ottawa’s residential market entered 2026 on a balanced footing. Inventory levels remain higher than in recent years, giving buyers more choice, while sellers continue to adjust to conditions that reward accurate pricing and patience. Benchmark prices are down year over year across all housing types, with softer conditions most evident in townhouses and apartments. Detached homes continue to show greater price stability. Overall, January’s data points to a market that is operating more evenly, rather than one under broad-based pressure.

“What January is showing us is a market that’s adjusting in a healthy way,” said Tami Eades, President of the Ottawa Real Estate Board. “We’re seeing more choice for buyers, more realism on the selling side, and pricing that’s responding to those conditions without sharp swings. That kind of balance is a sign of stability, not stress.”

Residential Market Activity

In January, 610 residential properties sold in Ottawa, reflecting a typical post-holiday slowdown while also signalling a steadier start to the year. Sales were 5.6% lower than a year ago but remained within the range of long-term January norms. This points to demand that is still present, even as buyers continue to proceed cautiously amid ongoing affordability considerations.

Pricing activity also reflected seasonal conditions rather than renewed weakness. The average residential sale price was $641,436, down 4.5% from January 2025, a change consistent with winter market dynamics and a more price-sensitive buyer pool. Recent interest rate reductions have begun to ease pressure at the margins. January’s data suggests their impact is appearing first in buyer engagement rather than completed transactions.

The MLS® Home Price Index provides further context. In January, the composite benchmark price declined modestly month over month, with single-family, townhouse, and apartment benchmarks all posting small decreases.

Prices and Market Balance

Supply conditions continue to vary significantly by property type. Overall, new listings totalled 1,522 units, up 8.8% year over year, while active listings reached 2,673. This is an increase of 22.7% from last January. Although inventory levels remain elevated compared to recent seasonal norms, growth has slowed, helping to prevent a buildup of excess supply.

With months of inventory at 4.4, Ottawa’s market is operating closer to long-term, pre-pandemic averages. This level of supply is providing buyers with more choice and negotiating flexibility, while still allowing well-priced homes to attract solid interest. Rather than putting sharp downward pressure on prices, current inventory levels are supporting a more balanced market.

Property Type Breakdown

As noted above, differences in market performance by property type continued to shape Ottawa’s market in January.

Single-Family Homes

Detached homes remained the market’s most stable segment, even as winter conditions weighed on overall activity. In January, 276 single-family homes sold, down 13.8% year over year. Supply levels remained comparatively balanced at 4.3 months of inventory, supported by 1,177 active listings, and 663 new listings, essentially flat year over year. 

Prices softened modestly. The average sale price was $793,874, down 3.6% year over year, while the median price held at $750,000, unchanged from last January. Together, these indicators suggest that detached home pricing is adjusting in an orderly manner. The single-family benchmark price also edged lower year over year, marking a shift from the modest gains seen late last year; the decline remains limited. 

Townhomes

Townhome sales rose to 215 units, up 6.4% year over year, while new listings increased sharply to 487, up 45.8% from January 2025 and well above December’s 176 new listings. Active listings climbed to 708, a 67.0% increase year over year. 

As supply increased, leverage has shifted modestly toward buyers. Months of inventory rose to 3.3, and pricing reflected this adjustment. The average townhouse sale price was $536,106, down 3.3% year over year, while the median price declined 3.4% to $560,000. The townhouse benchmark price was down 3.2% year over year, but rose 1.0% compared to December. 

Apartments

The apartment segment showed a constructive month-over-month shift in January, marking a contrast to late 2025. In January, apartment-condo sales increased to 95 from 78 in December, and months of inventory decreased to 6.8 from 7.9, an indication of stronger absorption.  

At the same time, supply expanded meaningfully. New listings rose to 312 from 144 in December, and active listings increased to 647 from 617. In other words, January brought a sizeable seasonal influx of condo listings, but improved sales activity helped prevent a further deterioration in market balance.  

Pricing in this segment remains the most sensitive anywhere across the Ottawa market. The average apartment sale price was $388,307, down 12.1% from January 2025 and lower than December’s $401,465. While condo pricing continues to adjust, January’s combination of higher sales and lower months of inventory suggests that conditions may be starting to stabilize. 

Months of Inventory:

• Single Family: 4.3

• Townhome: 3.3

• Apartment: 6.8

Looking Ahead

January’s data reflects a familiar winter pattern, with slower sales and cautious buyer behaviour shaped by seasonal factors and ongoing economic uncertainty. At the same time, there are early signs that market conditions are beginning to firm. The apartment segment, in particular, showed improving absorption, with lower months of inventory alongside higher sales and dollar volume.

Townhome activity held up, while detached trends remained steady, reinforcing a market that is segmented by property type but remains largely balanced overall.

This picture aligns with CREA’s outlook for 2026, which anticipates improving conditions as lower interest rates gradually draw more sidelined demand back into the market. January supports a credible case for a stronger spring market if rate reductions continue to ease affordability pressures.

Selling your home and embracing a new adventure can be a thrilling journey, yet, it's common to hesitate. Let's address some key concerns and benefits, and even discuss the role of your beloved kids in the process. We're here to make it all feel like a breeze!

Why Seniors Delay Moving?

• Comfort & Familiarity: Your home is filled with cherished memories, making it tough to say goodbye.

• Fear of Change: Moving can be daunting, but it can also bring exciting new experiences.

• Family Dynamics: The thought of involving kids in your decisions can be complex. But remember, they want what's best for you!

Benefits of Moving Sooner: ✨

• Streamlined Lifestyle: A new, downsized home means less upkeep, more time for you.

• Safety & Accessibility: Modern homes often offer senior-friendly features, like step-free entry and grab bars.

• Community & Amenities: Independent living options provide social activities, and local facilities offer full-service amenities, from dining to healthcare.

Kids in the Decision:

• Your kids are your biggest fans. Involving them can ensure they understand your needs and preferences. Together, you can make the best choice for your future.

Independent Living Options:

• Condos: Maintenance-free living in a vibrant community.

• Apartments (Buy or Rent): Flexibility to suit your budget and lifestyle.

Local Senior-Friendly Facilities:

• There are several options across the city offering Independent Living, Assisted Living or Memory Care. The key is to plan ahead if possible and visit a few of these facilities to decide which one offers the little touches you are looking for. Natural settings, access to shopping or dining, pet friendly? Having a clear sense of what will best suit your needs will help in your selection.

Your new adventure awaits, and we're here to help you make the move, stress-free and light-hearted. Explore Ottawa's vibrant senior living options.

Ready to embrace your next chapter? Contact us today, and let's make it happen together!