Ottawa Real Estate Market Update
Entering 2026 with Balanced Conditions
As Ottawa’s housing market moved into the traditional slower season in late 2025, the usual winter cool-off was clearly visible in sales and listing activity but underpinning conditions show a resilient, generallybalanced market rather than a dramatic downturn.
November 2025: Seasonal Slowdown, Stable Prices
In November, total home sales in Ottawa fell significantly compared with October and also compared with the same month in 2024. According to the Ottawa Real Estate Board (OREB):
- Sales dipped to 880 units — down from 1,177 in October and ~18% below November 2024.
- Average sale price was $680,496, about 2% higher year-over-year.
- Single-family homes continued to outperform, averaging about $825,827 — up nearly 5% year-over-year.
Inventory began to build more noticeably than is typical for this time of year:
- Active listings climbed to ~3,721, roughly 31% higher than last year.
- Months of inventory (MOI) rose to ~4.2, indicating a generally balanced market with slightly more supply than in recent years.
Core takeaways from November: fewer transactions, but prices held steady. A sign that buyers and sellers are adjusting expectations without triggering abrupt price declines.
December 2025: Quiet Close to the Year
As the market settled into December, activity continued to slow, in line with winter seasonality, but mixed indicators paint a nuanced picture.
From multiple local market reports:
- Sales remained lower year-over-year, with roughly 587 units sold in December, a drop from the same period in 2024.
- Average home prices showed modest downward pressure month-to-month, with one estimate putting the average sale price around $658,943 in December — about a 0.7% annual decline.
- The composite benchmark price — another commonly used realtor metric — was about $615,500, slightly above last year but below November levels.
Inventory trends also shifted:
- MOI hovered near 4.3 months, consistent with a balanced market.
- Active listings were up significantly year-over-year but slightly below November’s total, reflecting a typical late-season tapering.
This pattern of slower sales and moderate price moderation suggests buyers are benefitting from more selection, while sellers who price to market are still finding traction.
January 2026: Early Signals of Market Momentum
Data from late December into January points to a modest rebound in activity as interest cuts and renewed buyer interest mix with early-year purchasing behaviours:
- Average home price for late December–January was roughly $640,000 — reflecting some month-over-month growth depending on how the mix of properties sold shifts.
- Over 1,150 new listings were reported in the most recent 28-day period, indicating sellers are beginning the year with more choice on the market.
- Median days on market sits near ~48 days, a sign properties are still moving at a reasonable rate.
While this January snapshot isn’t final or official OREB data, it suggests a market preparing for the spring season with listings and buyer engagement both on the rise.
Looking Ahead
Economists and local real estate professionals suggest:
- Continued moderate price stability in Ottawa throughout 2026.
- Single-family homes and desirable neighbourhood properties may remain competitive.
- Condo and apartment segments could see softer conditions if inventory continues to climb.
Whether you’re a buyer, seller, or just curious about what’s shaping Ottawa’s housing market, this winter snapshot highlights a balanced market neither overwhelmingly tilted toward buyers nor sellers with early 2026 activity indicating potential spring momentum ahead.
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