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.

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 23, 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.

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

Ottawa Home Price Changes Over The Last Decade

Composite Home Prices

Single-Family Home Prices

Townhouse and Multiplex Prices

Condo Prices

Ottawa Housing Market Conditions

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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

Rank	City	Total Avg	1 Bed	2 Bed
1	North Vancouver	$3,028	$2,466	$3,477
2	Vancouver	$2,754	$2,373	$3,271
3	Burnaby	$2,564	$2,111	$2,785
4	Toronto	$2,556	$2,220	$2,937
5	North York	$2,528	$2,093	$2,692
6	Kanata	$2,501	$2,265	$2,691
7	Coquitlam	$2,482	$2,053	$2,608
8	Oakville	$2,460	$2,165	$2,703
9	Etobicoke	$2,431	$2,099	$2,644
10	Barrie	$2,397	$2,148	$2,552
11	Burlington	$2,379	$2,074	$2,389
12	Vaughan	$2,363	$2,114	$2,569
13	Mississauga	$2,337	$2,036	$2,423
14	Halifax	$2,324	$2,002	$2,508
15	Brampton	$2,261	$1,990	$2,334
16	Victoria	$2,253	$1,987	$2,632
17	New Westminster	$2,241	$1,881	$2,734
18	Langley	$2,239	$1,868	$2,426
19	Surrey	$2,227	$1,807	$2,251
20	Guelph	$2,225	$1,961	$2,292
21	Ajax	$2,214	$1,927	$2,294
22	Ottawa	$2,200	$1,969	$2,445
23	Scarborough	$2,178	$1,855	$2,315
24	Waterloo	$2,158	$1,884	$2,302
25	Nanaimo	$2,157	$1,897	$2,261
26	Kingston	$2,150	$1,930	$2,308
27	Laval	$2,131	$1,712	$2,364
28	Kelowna	$2,111	$1,834	$2,270
29	Brossard	$2,083	$1,790	$2,190
30	Cambridge	$2,055	$1,863	$2,143
31	East York	$2,044	$1,800	$2,355
32	Airdrie	$2,013	$1,466	$1,750
33	Oshawa	$1,993	$1,724	$2,006
34	Niagara Falls	$1,988	$1,714	$1,960
35	Greater Sudbury	$1,982	$1,745	$2,076
36	Montreal	$1,961	$1,746	$2,261
37	Kamloops	$1,957	$1,701	$2,023
38	Kitchener	$1,935	$1,709	$2,063
39	Peterborough	$1,926	$1,692	$1,964
40	Brantford	$1,923	$1,780	$2,033
41	Hamilton	$1,910	$1,657	$2,130
42	London	$1,897	$1,628	$1,998
43	Calgary	$1,883	$1,508	$1,834
44	St. Catharines	$1,830	$1,518	$1,959
45	Welland	$1,792	$1,540	$1,920
46	Gatineau	$1,769	$1,625	$1,810
47	Côte Saint-Luc	$1,655	$1,410	$1,875
48	Winnipeg	$1,653	$1,435	$1,764
49	Windsor	$1,638	$1,467	$1,843
50	Edmonton	$1,633	$1,281	$1,643
51	Quebec City	$1,620	$1,308	$1,642
52	Red Deer	$1,614	$1,338	$1,503
53	Sarnia	$1,583	$1,408	$1,642
54	Lethbridge	$1,573	$1,355	$1,558
55	Saskatoon	$1,559	$1,305	$1,536
56	Regina	$1,468	$1,305	$1,521
57	Lloydminster	$1,392	$1,108	$1,422
58	Fort McMurray	$1,386	$1,147	$1,372
59	St. John's	$1,362	$1,167	$1,328
60	Medicine Hat	$1,360	$1,232	$1,391

Average Rent by City
Source: Rentals.ca Network Data & Urbanation Inc.

Average Rent by Province

LOCATION	Total	1B	2B
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

TYPE	Total	1B	2B
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 $503 per month on nesto’s lowest adjustable 5-year rate at 3.41%.

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 23, 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

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Why Choose nesto

At nesto, our commission-free mortgage experts are salaried and regulated, with most licensed in multiple provinces. They are evaluated on client satisfaction and the quality of their advice, and they help you compare mortgage options and understand rates and qualification requirements. Once you’re ready to move forward, they work with you on a mortgage strategy that fits your situation.

nesto pairs expert advice with a 100% digital, transparent and seamless process, and a dedicated mortgage professional supports you throughout your purchase, renewal or refinance.

nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.

Contact our knowledgeable mortgage experts to find your best mortgage rate in Canada.

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