If you’ve been following the Ottawa real estate market, you’ve probably heard that there’s more inventory than we’ve seen in recent years. While that’s true, it doesn’t mean the market has suddenly shifted in buyers’ favour across the board.
The better way to describe June’s market? Balanced—but with a different story depending on the type of home you’re looking at.
Overall, Ottawa has about 3.3 months of inventory, which means buyers have more options than they did during the frenzy of the past few years, but well-priced homes are still selling.
The biggest takeaway this month is that not all property types are performing the same.
Single-family homes continue to be the strongest part of the market. Demand has remained relatively steady, homes are still selling close to asking price, and inventory remains lower than other segments.
Townhomes have become a little more competitive as more listings have hit the market. Buyers have more choice than they did a year ago, which means pricing and presentation matter more than ever.
Condominiums continue to be the softest segment. With more inventory available, buyers have greater negotiating power and condos are generally taking longer to sell compared to detached homes.
Pricing reflects this mixed market. The average sale price across Ottawa reached $733,648, up slightly from last year, while the median price dipped to $655,000. That’s a reminder that headline numbers don’t always tell the full story—what’s happening in your neighbourhood and with your specific property type is far more important.
There are also encouraging signs in the broader economy. The Bank of Canada held interest rates steady in June, economic growth returned in April after a slight slowdown, and confidence is gradually improving. At the same time, ongoing economic uncertainty continues to keep many buyers cautious.
So what does all of this mean if you’re buying or selling?
For buyers, this is one of the healthiest markets we’ve seen in years. You have more choice, more time to make decisions, and stronger negotiating opportunities—especially in the condo market.
For sellers, homes are absolutely still selling, but pricing your home correctly and presenting it well has never been more important. Buyers have options, and the homes that stand out continue to attract the strongest interest.
Perhaps the biggest lesson from June is this: citywide headlines only tell part of the story.
Different neighbourhoods—and even different property types within the same neighbourhood—are behaving differently. That’s why local knowledge matters more than ever.
If you’re wondering what these numbers mean for your home or your next move, we’d be happy to walk you through what’s happening in your specific area and help you make the most informed decision possible.
