The Ottawa real estate market began 2026 in a balanced and steady position. While winter months typically bring slower activity, January’s numbers point less to slowdown and more to stability returning to the market.
(And yes — this month’s video market update was filmed in Spanish as a fun nod to Bad Bunny’s Super Bowl halftime show.)
A More Balanced Start to the Year
Inventory levels remain higher than in recent years, giving buyers more options and time to make decisions. At the same time, sellers are adjusting to conditions that reward accurate pricing and patience rather than urgency.
A total of 610 residential properties sold in January, down slightly from last year but still within normal seasonal ranges. The average residential sale price was $641,436, about 4.5% lower than January 2025, reflecting typical winter conditions and a more price-sensitive buyer pool.
With 4.4 months of inventory, Ottawa’s housing market is now operating close to long-term pre-pandemic norms — a key indicator of balance between supply and demand.
Rather than signalling stress, these conditions suggest a market that is adjusting in a healthy and sustainable way.
Detached Homes Remain Stable
Single-family homes continue to be the most stable segment of the Ottawa market.
In January:
- 276 detached homes sold
- Average price: $793,874 (-3.6% year over year)
- Median price: $750,000 (unchanged)
- 4.3 months of inventory
These numbers show modest price adjustments but continued stability overall.
Townhomes See More Supply
The townhome segment experienced a notable increase in listings, which shifted some negotiating power toward buyers.
- 215 townhomes sold (+6.4% year over year)
- Average price: $536,106 (-3.3% year over year)
- 3.3 months of inventory
While prices softened slightly, demand remains steady in this segment.
Condo Market Showing Early Signs of Stabilization
Apartments and condos remain the most price-sensitive segment of Ottawa’s housing market, but January showed some encouraging movement.
Sales increased month-over-month, and months of inventory declined, suggesting improved absorption even as new listings entered the market.
- Average condo price: $388,307 (-12.1% year over year)
- 6.8 months of inventory
While prices are still adjusting, the data suggests the segment may be beginning to stabilize.
Looking Ahead to Spring 2026
January reflected a familiar winter pattern: cautious buyers, slower sales, and steady inventory. However, early signs of strengthening conditions are emerging, particularly as recent interest-rate reductions begin to support buyer confidence.
Detached homes remain steady, townhome activity is holding up, and the condo segment is showing signs of improvement. Together, these trends point toward a market that is segmented but balanced overall.
If interest rates continue to ease, Ottawa could see stronger activity as the spring market approaches.
For now, the story of January is simple:
the Ottawa housing market isn’t slowing down — it’s leveling out.
