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Ottawa Housing Market Outlook 2026

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Ottawa Home Sales Drop to the Lowest August Level Since 2016

According to the Ottawa Real Estate Board (OREB), 1,002 homes sold through the MLS System in August 2026, down 18.6% from August 2025 and 24.4% below July. For context, the median July-to-August decline over the previous 10 years was 5.8%, so this year’s drop was several times the normal seasonal move. The August total tied 2022 for the weakest August since 2016.

  • Prices barely moved. The composite benchmark rose 1.0% year-over-year and 0.6% month-over-month to $637,700, and the average sale price gained 0.3% to $688,253. Ottawa is one of the few major markets posting annual price growth this month.
  • Supply did not cause the slowdown. New listings totalled 2,119, unchanged from a year earlier and down 16.2% from July, while active listings rose 11.3% to 4,496. The sales-to-new-listings ratio (SNLR) fell to 47.3% from 52.4% in July, and months of inventory jumped from 3.5 to 4.5.
  • The weakness spread across all three property types. Single-family sales fell 16.3% to 535, townhouses 19.9% to 310, and apartments 22.3% to 136. Earlier in 2026, the softness was concentrated in townhouses and condos.

The unusual signal here is the one-month jump in months of inventory. Over the previous decade, the median July-to-August change in that measure was zero, and no increase exceeded 0.4 months, so a full one-month move points to a genuine weakening in absorption rather than a summer lull. Whether properties that left the market without selling return in the fall will tell us which it is.

Ottawa buyers have more time to decide than in years, and prices are holding, not falling. Compare mortgage rates in Ottawa and connect with our nesto mortgage experts to get a pre-qualification in place while conditions favour you.

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Ottawa Housing Market Highlights

  • The average selling price of a home in Ottawa increased by 0.97% year-over-year to $637,700 in August 2026.
  • The average selling price of a single-family home in Ottawa increased by 2.15% year-over-year to $726,700 in August 2026.
  • The average selling price of a townhouse/multiplex in Ottawa decreased by 3.97% year-over-year to $547,300 in August 2026.
  • The average selling price of a condo in Ottawa decreased by 3.56% year-over-year to $392,900 in August 2026.
  • October 4, 2026: Today’s lowest mortgage rate in Ottawa is 4.59% for a 5-year fixed.

Data from the Ottawa Real Estate Board (OREB) indicates that the average price of resale residential homes sold across Ottawa in August 2026 was $637,700, and it increased by 0.97% compared to a year ago.

OREB also reported a sales-to-new-listings ratio (SNLR) of 47.3%, indicating balanced market conditions in Ottawa for August 2026.

OttawaComposite Price August 2026 Composite Price July 2026YoY Change (%)MoM Change (%)
Single Family Home$726,700$725,000increased by 2.15%increased by 0.23%
Townhouse/Multiplex$547,300$542,500decreased by 3.97%increased by 0.88%
Condo / Apartments$392,900$385,500decreased by 3.56%increased by 1.92%
Composite$637,700$634,000increased by 0.97%increased by 0.58%

Ottawa Home Price Changes Over The Last Decade

Composite Home Prices

The average selling price of a home in Ottawa was $637,700 for the month of August 2026, that’s increased by 0.58% month-over-month. On a year-over-year basis, Ottawa home prices have increased by 0.97%.

Composite Home Prices in Ottawa

Monthly changes to Ottawa’s composite home prices over the last 10 years.

Single-Family Home Prices

The average selling price of a single-family home in Ottawa was $726,700 for the month of August 2026; that’s increased by 0.23% month-over-month. On a year-over-year basis, single-family home prices in Ottawa have increased by 2.15%.

Single-Family Home Prices in Ottawa

Monthly changes to Ottawa’s single-family home prices over the last 10 years.

Townhouse and Multiplex Prices

The average selling price of a townhouse in Ottawa was $547,300 for the month of August 2026; that’s increased by 0.88% month-over-month. On a year-over-year basis, the price of a townhouse in Ottawa has decreased by 3.97%.

Townhouse and Multiplex Prices in Ottawa

Monthly changes to Ottawa’s townhouse and multiplex home prices over the last 10 years.

Condo Prices

The average selling price of a condo in Ottawa was $392,900 for the month of August 2026; that’s increased by 1.92% month-over-month. On a year-over-year basis, the price of a condo in Ottawa has decreased by 3.56%.

Condo Prices in Ottawa

Monthly changes to Ottawa’s condominium apartment home prices over the last 10 years.

Ottawa Housing Market Conditions

Number of Home Sales

Ottawa home sales were 1,002 during August 2026, that’s decreased by 24.38% month-over-month. On a year-over-year basis, home sale transactions in Ottawa have decreased by 18.93%.

Home Sales Volume in Ottawa

Ottawa’s MLS home sale volume over the past 12 months.

New Listings

New listings in Ottawa totalled 2,119 during August 2026 and decreased by 16.25% month-over-month. On a year-over-year basis, new listings in Ottawa have decreased by 0.09%.

New Listings in Ottawa

Ottawa’s MLS new listings over the past 12 months.

Sales-to-New-Listings Ratio (SNLR)

The sales-to-new-listings ratio (SNLR) in Ottawa was 47.3% during August 2026, indicating a balanced market. On a monthly basis, that’s decreased by 9.73% month-over-month. Ottawa’s yearly sales-to-new-listings ratio has decreased by 18.87%.

SNLR in Ottawa

Monthly change in Ottawa’s sales-to-new-listings ratio (SNLR) over the past 12 months.

The sales-to-new-listings ratio (SNLR) measures home sales relative to new listings. An SNLR below 40% indicates a buyer’s market, where buyers hold the upper hand and greater negotiating power. An SNLR between 40% and 60% indicates a balanced market, while an SNLR over 60% indicates a seller’s market. 

Market Conditions in Ottawa

Sep 2025 buyers market
Oct 2025 balanced market
Nov 2025 sellers market
Dec 2025 sellers market
Jan 2026 balanced market
Feb 2026 buyers market
Mar 2026 balanced market
Apr 2026 balanced market
May 2026 balanced market
Jun 2026 balanced market
Jul 2026 balanced market
Aug 2026 balanced market

SNLR — last 12 months

Monthly change in Ottawa’s market conditions over the past 12 months.

Short-Term Composite Home Price Trends in Ottawa

Monthly changes to Ottawa’s composite home price over the last 12 months.


Ottawa Market Rents Snapshot

The average rent in Ottawa was $2,200 in August 2026 and has decreased by 1.52% year over year.

The average rent for a 1-bedroom apartment in Ottawa was $1,958 for August 2026 and has decreased by 1.66% year over year.

The average rent for a 2-bedroom apartment in Ottawa was $2,470 for August 2026 and has decreased by 2.37% year over year.

Average Rents for Cities Across Canada

RankCityTotal Avg1 Bed2 Bed
1North Vancouver$3,036$2,501$3,434
2Vancouver$2,729$2,350$3,248
3Oakville$2,695$2,316$3,021
4Toronto$2,571$2,221$2,939
5Kanata$2,524$2,251$2,754
6Burnaby$2,520$2,119$2,724
7North York$2,519$2,085$2,690
8Coquitlam$2,510$2,087$2,709
9Etobicoke$2,441$2,081$2,653
10Vaughan$2,422$2,110$2,516
11Burlington$2,386$2,068$2,425
12Halifax$2,365$1,999$2,591
13Mississauga$2,346$2,042$2,443
14Barrie$2,332$2,103$2,472
15Langley$2,266$1,911$2,480
16Brampton$2,259$1,971$2,351
17Victoria$2,255$1,994$2,649
18Guelph$2,224$1,927$2,276
19New Westminster$2,203$1,901$2,655
20Kingston$2,200$1,933$2,353
21Ottawa$2,200$1,958$2,470
22Scarborough$2,187$1,835$2,319
23Surrey$2,185$1,796$2,250
24Ajax$2,182$1,890$2,241
25Waterloo$2,169$1,922$2,337
26Laval$2,130$1,726$2,352
27Nanaimo$2,078$1,844$2,251
28Kelowna$2,073$1,823$2,248
29East York$2,056$1,792$2,379
30Brossard$2,044$1,767$2,139
31Cambridge$2,027$1,834$2,174
32Oshawa$2,023$1,740$2,019
33Niagara Falls$1,978$1,659$1,958
34Airdrie$1,966$1,429$1,774
35Greater Sudbury$1,959$1,720$2,101
36Kamloops$1,957$1,750$2,026
37Montreal$1,957$1,742$2,259
38Kitchener$1,938$1,691$2,084
39Hamilton$1,921$1,653$2,135
40London$1,913$1,651$2,030
41Brantford$1,911$1,787$2,025
42Peterborough$1,892$1,680$1,918
43Calgary$1,885$1,508$1,845
44St. Catharines$1,810$1,530$1,921
45Gatineau$1,776$1,607$1,857
46Welland$1,754$1,505$1,978
47Côte Saint-Luc$1,710$1,405$1,966
48Windsor$1,670$1,475$1,906
49Winnipeg$1,646$1,426$1,754
50Edmonton$1,631$1,275$1,646
51Sarnia$1,607$1,438$1,674
52Quebec City$1,586$1,299$1,677
53Red Deer$1,573$1,345$1,515
54Lethbridge$1,545$1,334$1,572
55Saskatoon$1,517$1,295$1,531
56Regina$1,468$1,291$1,536
57Fort McMurray$1,378$1,163$1,382
58Medicine Hat$1,371$1,228$1,381
59Lloydminster$1,330$1,056$1,412
60St. John's$1,293$1,136$1,453
Average Rent by City
Source: Rentals.ca Network Data & Urbanation Inc.

Average Rent by Province

LOCATIONTotal1B2B
AB$1,776$1,405$1,747
BC$2,387$2,048$2,634
MB$1,643$1,419$1,742
ON$2,256$1,968$2,437
QC$1,931$1,690$2,149
SK$1,461$1,265$1,502
Atlantic Canada$2,274$1,909$2,434
Canada$2,035$1,753$2,146

Average Rent by Property Type Across Canada

TYPETotal1B2B
All$2,035$1,753$2,146
Apartment$2,038$1,799$2,232
Condominium$2,050$1,827$2,170
House/Townhouse$2,014$1,305$1,733

How Does Renting Compare With Homeownership in Ottawa?

Each $100,000 in mortgage balance costs an average of $564 per month on nesto’s lowest fixed 5-year rate at 4.59%, and $506 per month on nesto’s lowest adjustable 5-year rate at 3.45%.

On the variable side, a 0.25% change in the Bank of Canada’s policy rate moves that payment by roughly $13.47 per $100,000 if rates rise, or $13.27 if they fall. Fixed payments aren’t affected the same way mid-term—a fixed rate is locked for the term and tracks bond yields, not the policy rate directly, so this sensitivity applies only to the variable side.

The interest rates used for the calculation are those offered on insured purchases with less than a 20% down payment, on a 25-year amortization, as of October 4, 2026 and are subject to change. Canada’s policy rate is 2.25%, and nesto’s prime rate is 4.45%.


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Frequently Asked Questions (FAQ) About the Ottawa Housing Market in 2026

Are Ottawa Housing Market Conditions Favouring Buyers or Sellers in 2026?

Ottawa housing market conditions have shifted toward buyers in 2026, even though supply itself did not grow dramatically. New listings in August were essentially flat year over year, but sales fell 18.6%, dragging the sales-to-new-listings ratio down to 47.3% from 52.4% in July. Months of inventory jumped from 3.5 to 4.5 in a single month, a far larger move than the typical zero change seen in the previous decade, pointing to a genuine weakening in how quickly homes are being absorbed.

Are Home Prices in Ottawa Going Up or Down in 2026?

Home prices in Ottawa are up in 2026, making it one of the few major Canadian markets posting annual growth this month. The composite benchmark rose 1.0% year over year and 0.6% month over month to $637,700, while the average sale price gained 0.3% to $688,253. That stability contrasts with the sharp drop in sales activity, underscoring that this slowdown is about transaction volume, not value.

Why Did Ottawa Sales Fall to Their Lowest August Level Since 2016?

Ottawa sales fell to their lowest August level since 2016 because this year’s seasonal slowdown was several times larger than normal. Sales dropped 24.4% from July, compared with a median July-to-August decline of just 5.8% over the previous 10 years. August’s total of 1,002 transactions tied 2022 for the weakest August in a decade, and the weakness wasn’t confined to one market segment.

What Does the Jump in Months of Inventory Signal for Ottawa?

The jump in Ottawa’s months of inventory is the most unusual signal in this month’s data. Over the previous decade, the median July-to-August change in this measure was zero, and no single year saw an increase larger than 0.4 months. This year’s move from 3.5 to 4.5 months is a full point higher, suggesting a genuine weakening in absorption rather than a typical summer lull. Whether listings that didn’t sell in August return to the market in the fall will clarify which it is.

Which Ottawa Property Type Weakened Most in August?

Apartments weakened most in Ottawa in August, with sales down 22.3% to 136 units. Townhouses followed, down 19.9% to 310, and single-family sales fell 16.3% to 535. That marks a change from earlier in 2026, when the softness was concentrated mainly in townhouses and condos; the slowdown has now spread across every property type the board tracks.

Is It Cheaper to Rent or Buy in Ottawa in 2026?

Ottawa rents have moved in two directions at once in 2026: up 1.1% month over month, among the strongest monthly gains of any major market, but down 1.6% on an annualized basis. With home prices holding steady rather than falling, the rent-versus-buy comparison in Ottawa is less lopsided than in markets where one side is moving sharply. Which option costs less over time still depends on how long it takes to save the down payment, how long you plan to stay, and the mortgage rate you qualify for.


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About the contributors

Written by

Samson Solomon

Mortgage Content Expert

Samson is a Mortgage Content Expert at nesto with over 25 years of experience in retail banking, financial advising and…