Ottawa Housing Market Outlook 2026
Ottawa Holds Its Ground Through the Summer Slowdown
According to the Ottawa Real Estate Board (OREB), for July 2026, 1,325 homes were sold through the local MLS System, an increase of 0.2% over July 2025. Sales fell 12.7% from June, well short of the 20.7% median June-to-July decline recorded over the previous decade.
- The MLS Home Price Index composite benchmark price came in at $634,000, down just 0.5% year-over-year and up 0.3% from June. Single-family homes benchmarked at $725,000, a gain of 0.6%, while townhouses fell 5.1% to $542,500 and apartments dropped 5.2% to $385,500.
- New listings totalled 2,530, a decline of 0.8% from last July and the second time in three months that new supply came in below year-earlier levels. Active listings stood at 4,678, up 9.3% annually but down 6.1% from June.
- The sales-to-new-listings ratio improved to 52.4% from 48.8% in June, keeping the market in balanced territory, while months of inventory rose modestly to 3.5 from 3.3.
Ottawa is really two markets right now. Single-family sales rose 5% year-over-year to 714 transactions, and that segment is the only one where benchmark pricing is still gaining. Apartments told the opposite story, with 169 sales, 5.4 months of inventory, and a median of 41 days on market, with the softness concentrated in the downtown core.
Whether that split works for or against you depends entirely on the type of property you are after. Compare current mortgage rates in Ottawa and reach out to our nesto mortgage experts for guidance suited to your segment.
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Ottawa Housing Market Highlights
- The average selling price of a home in Ottawa decreased by 1.3% year-over-year to $632,200 in June.
- The average selling price of a single-family home in Ottawa increased by 0.7% year-over-year to $720,000 in June.
- The average selling price of a townhouse/multiplex in Ottawa decreased by 3.9% year-over-year to $550,700 in June.
- The average selling price of a condo in Ottawa decreased by 6% year-over-year to $384,500 in June.
- The average rent in Ottawa decreased by 2.8% year-over-year to $2,164 for June.
- August 21, 2026: Today’s lowest mortgage rate in Ottawa is 4.24% 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 June was $632,200, and it decreased by 1.3% compared to a year ago.
OREB also reported a sales-to-new-listings ratio (SNLR) of 52%, indicating Balanced market conditions in Ottawa for June.
Average Home Prices in Ottawa by Property Type
Composite Home Prices
The average selling price of a home in Ottawa was $632,200 for the month of June, that’s increased by 0.5% month-over-month. On a year-over-year basis, Ottawa home prices have decreased 1.3% year-over-year.
Single-family Home Prices
The average selling price of a single-family home in Ottawa was $720,000 for the month of June, that’s increased by 0.5% month-over-month. On a year-over-year basis, single-family home prices in Ottawa have increased by 0.7% year-over-year.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Ottawa was $550,700 for the month of June, that’s decreased by 1.2% month-over-month. On a year-over-year basis, the price of a townhouse in Ottawa has decreased by 3.9% year-over-year.
Condo Prices
The average selling price of a condo in Ottawa was $384,500 for the month of June, that’s increased by 0.3% month-over-month. On a year-over-year basis, the price of a condo in Ottawa has decreased 6% year-over-year.
Ottawa Home Sales, New Listings and Market Conditions
Transactions and Number of Sales
The number of sales in Ottawa was 1,325 during June, that’s decreased by 12.7% month-over-month. On a year-over-year basis, sales in Ottawa have increased by 0.5% year-over-year.
New Listings
The number of new listings in Ottawa was 2,530 during June, that’s decreased by 0.186 month-over-month. On a year-over-year basis, new listings in Ottawa have decreased by 0.7% year-over-year.
Sales-to-New-Listings Ratio (SNLR)
The sales-to-new-listings ratio (SNLR) in Ottawa was 52% during June, indicating a Balanced. On a monthly basis, that’s increased by $0 month-over-month. Ottawa’s yearly sales-to-new-listings ratio has increased by 1.3% year-over-year.
The sales-to-new-listings ratio (SNLR) measures the number of home sales compared 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% is a balanced market, while an SNLR of over 60% is considered a seller’s market.
Annual Changes to Composite Home Prices in Ottawa
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Ottawa Market Rents Snapshot
The average rent in Ottawa was $2,164 for the month of June, which decreased by 2.8% year-over-year.
The average rent for a 1-bedroom apartment in Ottawa was $1,960 for the month of June, which decreased by 1.1% year-over-year.
The average rent for a 2-bedroom apartment in Ottawa was $2,449 for the month of June, which decreased by 4.1% year-over-year.
Average Rent by City in Canada
| Rank | City | Total Average | 1 Bedroom | 2 Bedrooms |
|---|---|---|---|---|
| 1 | North Vancouver | $3,039 | $2,588 | $3,458 |
| 2 | Vancouver | $2,686 | $2,377 | $3,255 |
| 3 | Toronto | $2,580 | $2,234 | $2,947 |
| 4 | North York | $2,565 | $2,188 | $2,743 |
| 5 | Burnaby | $2,543 | $2,159 | $2,802 |
| 6 | Coquitlam | $2,526 | $2,134 | $2,753 |
| 7 | Oakville | $2,517 | $2,198 | $2,819 |
| 8 | Kanata | $2,514 | $2,230 | $2,751 |
| 9 | Etobicoke | $2,439 | $2,094 | $2,624 |
| 10 | Halifax | $2,372 | $2,071 | $2,616 |
| 11 | Burlington | $2,370 | $2,075 | $2,448 |
| 12 | Mississauga | $2,357 | $2,052 | $2,445 |
| 13 | Vaughan | $2,319 | $2,048 | $2,580 |
| 14 | Victoria | $2,307 | $2,016 | $2,682 |
| 15 | Brampton | $2,285 | $2,001 | $2,379 |
| 16 | Langley | $2,239 | $1,899 | $2,457 |
| 17 | Ajax | $2,234 | $1,878 | $2,218 |
| 18 | Guelph | $2,217 | $1,905 | $2,280 |
| 19 | Scarborough | $2,213 | $1,872 | $2,288 |
| 20 | New Westminster | $2,190 | $1,880 | $2,656 |
| 21 | Surrey | $2,167 | $1,794 | $2,239 |
| 22 | Ottawa | $2,164 | $1,960 | $2,449 |
| 23 | Barrie | $2,155 | $1,863 | $2,108 |
| 24 | Waterloo | $2,118 | $1,915 | $2,234 |
| 25 | Kingston | $2,100 | $1,827 | $2,271 |
| 26 | Laval | $2,096 | $1,732 | $2,356 |
| 27 | Nanaimo | $2,092 | $1,835 | $2,290 |
| 28 | Kelowna | $2,091 | $1,808 | $2,248 |
| 29 | East York | $2,050 | $1,791 | $2,312 |
| 30 | Cambridge | $2,042 | $1,847 | $2,139 |
| 31 | Greater Sudbury | $2,021 | $1,708 | $2,072 |
| 32 | Oshawa | $2,002 | $1,740 | $2,017 |
| 33 | Airdrie | $1,987 | $1,441 | $1,804 |
| 34 | Peterborough | $1,977 | $1,742 | $1,957 |
| 35 | Brossard | $1,970 | $1,722 | $2,199 |
| 36 | Kamloops | $1,956 | $1,731 | $2,042 |
| 37 | Montreal | $1,941 | $1,769 | $2,255 |
| 38 | Niagara Falls | $1,940 | $1,600 | $1,980 |
| 39 | Brantford | $1,936 | $1,807 | $2,043 |
| 40 | Hamilton | $1,929 | $1,654 | $2,235 |
| 41 | London | $1,924 | $1,670 | $2,058 |
| 42 | Kitchener | $1,908 | $1,684 | $2,078 |
| 43 | Calgary | $1,883 | $1,513 | $1,847 |
| 44 | St. Catharines | $1,817 | $1,558 | $1,931 |
| 45 | Welland | $1,779 | $1,522 | $1,985 |
| 46 | Gatineau | $1,775 | $1,592 | $1,852 |
| 47 | Côte Saint-Luc | $1,704 | $1,441 | $1,997 |
| 48 | Windsor | $1,685 | $1,492 | $1,921 |
| 49 | Sarnia | $1,680 | $1,495 | $1,728 |
| 50 | Winnipeg | $1,663 | $1,463 | $1,759 |
| 51 | Edmonton | $1,617 | $1,282 | $1,638 |
| 52 | Red Deer | $1,536 | $1,293 | $1,509 |
| 53 | Lethbridge | $1,519 | $1,342 | $1,571 |
| 54 | Quebec City | $1,516 | $1,279 | $1,611 |
| 55 | Saskatoon | $1,514 | $1,310 | $1,537 |
| 56 | Regina | $1,444 | $1,300 | $1,540 |
| 57 | Fort McMurray | $1,412 | $1,221 | $1,426 |
| 58 | Medicine Hat | $1,359 | $1,237 | $1,380 |
| 59 | Lloydminster | $1,348 | $1,072 | $1,386 |
| 60 | St. John's | $1,215 | $1,105 | $1,314 |
Source: Rentals.ca Network Data & Urbanation Inc.
Average Rent by Province in Canada
Rental Price Growth by Housing Type
How Does Renting Compare With Homeownership in Ottawa?
Each $100,000 in mortgage balance costs an average of $530.91 per month on nesto’s lowest fixed 5-year rate at 4.24% and $495.28 per month on nesto’s lowest adjustable 5-year rate at 3.45%.
For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.42. The interest rates used for calculation are those offered on insured purchases with less than a 20% down payment on a 25-year amortization. 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’s housing market conditions are balanced in 2026, and more firmly so than in most large Canadian markets. The sales-to-new-listings ratio improved to 52.4% in July from 48.8% in June, and months of inventory sit at 3.5, tighter than the national reading of 4.7. Active listings are up 9.3% from a year ago but fell 6.1% from June, so the supply cushion that built through the spring is beginning to thin rather than widen.
Are Ottawa Home Prices Going Up or Down in 2026?
Ottawa home prices are more or less flat in 2026, making the city one of the most stable large markets in the country. The composite benchmark was $634,000 in July, down just 0.5% year over year and up 0.3% from June. That compares with declines of 4.6% in Toronto and 6.2% in Metro Vancouver. Single-family homes are actually gaining, benchmarking at $725,000, up 0.6%, while townhouses fell 5.1% and apartments 5.2%.
Why Did Ottawa Sales Hold Up Better Than Usual This Summer?
Ottawa sales held up better than usual because the seasonal drop was unusually shallow. July sales of 1,325 were 0.2% higher than a year earlier and fell 12.7% from June, well short of the 20.7% median June-to-July decline recorded over the previous decade. A stable public-sector employment base and a benchmark price that has barely moved in a year have kept buyer activity steadier here than in markets working through larger price corrections.
Which Ottawa Property Type Is Weakest in 2026?
Condos are the weakest property type in Ottawa in 2026. The condo/apartment benchmark fell 5.2% year over year to $385,500, with 169 sales in July, 5.4 months of inventory and a median of 41 days on market. The softness is concentrated in the downtown core. Single-family homes are the mirror image, with sales up 5% to 714 transactions and the only benchmark still gaining. Ottawa is effectively running two markets with opposite conditions.
Is Ottawa Affordable Compared With Toronto?
Ottawa is considerably more affordable than Toronto in 2026. The Ottawa composite benchmark of $634,000 sits about $300,000 below the Greater Toronto composite of $934,600, and Ottawa prices have held nearly flat while Toronto’s fell 4.6% over the past year. Because Ottawa prices are not correcting, affordability here is improving more slowly than in Ontario’s larger markets, so the gap between the two cities is narrowing rather than widening.
What Is Limiting Ottawa Housing Demand in 2026?
Population is the main factor limiting Ottawa’s housing demand in 2026. Ontario’s population growth turned negative in the second quarter, running 0.9% below year-earlier levels after reaching 3.6% two years ago, which reduces the household formation that drives entry-level and rental-adjacent demand. Qualification is the second constraint, since the mortgage stress test requires borrowers to qualify at a rate above the one they will pay. Borrowing costs are stable, with the Bank of Canada holding its policy rate at 2.25% since October.
Is It Cheaper to Rent or Buy in Ottawa in 2026?
Renting is still cheaper month-to-month than buying in Ottawa in 2026, but the two are converging. Ottawa recorded the largest monthly rent increase among the six biggest markets in June, and asking rents have been firming since the spring, while the Ottawa benchmark price has been essentially flat for a year. Which option costs less over time 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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