Ottawa's spring real estate market is active, but it is not overheated. Buyers have more choice than they did in tighter markets, while sellers still have opportunities when their homes are priced and presented well.

As of May 2026, Ottawa's market remains balanced: sales improved from April, inventory stayed elevated, and pricing was relatively stable with local differences by property type and area.

Update notes: Source: Ottawa Real Estate Board and CREA May 2026 statistics. Month: May 2026. Date updated: June 5, 2026.

Facts versus interpretation: sales, listings, prices, and inventory are reported facts from the monthly data. Buyer and seller takeaways are interpretation based on those facts and should be checked against current neighbourhood comparable sales.

Quick Answer

In May 2026, Ottawa recorded 1,616 home sales, down 10.6% year over year but up from April. New listings totalled 3,351, active listings reached 4,917, and the sales-to-new-listings ratio improved to 48.2%, consistent with balanced conditions. The average sale price was $721,270, down 0.9% year over year but up from April, while the median price was $660,000, down 1.6% from May 2025, according to OREB and CREA statistics.

What The Latest Numbers Show

According to the Ottawa Real Estate Board and CREA's May 2026 statistics:

  • 1,616 homes sold in May
  • Sales were down 10.6% year over year
  • Sales increased from 1,336 in April
  • New listings totalled 3,351
  • Active listings reached 4,917
  • The sales-to-new-listings ratio was 48.2%
  • The average sale price was $721,270
  • The median sale price was $660,000
  • Months of inventory was 3.0 overall

These numbers point to a market with activity, but also choice.

Market Terms

DOM means days on market. It measures how long a listing takes to sell after it is listed.

Months of inventory estimates how long it would take to sell current active listings at the current sales pace.

Average price is total residential sales dollar volume divided by the number of sales. It can move when more high- or low-priced homes sell.

What Balanced Market Means

A balanced market means neither buyers nor sellers have overwhelming leverage across the entire market.

For buyers, it usually means more options and a little more time to make decisions compared with a highly competitive seller's market.

For sellers, it means pricing and preparation matter. Homes that are overpriced or poorly presented can sit, while well-positioned homes can still attract strong interest.

Balanced does not mean slow. It means strategy matters.

Prices Are Holding Steady

Ottawa prices were relatively stable in May.

The average sale price was down 0.9% year over year but up from April, and the median price was down 1.6% year over year but also up from April. Year-to-date average and median prices were slightly below the same period last year.

That suggests the market is not seeing broad price acceleration, but it is also not showing a uniform decline.

Inventory Is The Key Story

The biggest theme is supply.

Active listings were up 12.2% year over year, even though new listings were down 2.2% from May 2025. More active inventory gives buyers more choice and creates more competition among sellers.

If inventory keeps rising faster than demand, sellers may need to be more careful with pricing expectations. If buyer activity continues to improve, the market may stay balanced.

Property Type Differences

Not every segment feels the same.

OREB and CREA reported months of inventory as:

  • Single family: 2.7
  • Townhome: 2.7
  • Apartment: 4.8

This suggests single-family homes and townhomes are tighter than apartments. Condo-apartments have been the softer segment, with more supply and more price sensitivity.

For buyers, that means negotiation room can vary by property type. For sellers, it means your strategy should match your segment.

Regional Differences

Ottawa is not one market.

OREB's May commentary noted that Ottawa's regional picture was uneven. Central Ottawa improved, the suburban west remained active, and rural conditions were more variable.

That matters because a headline market update cannot tell you exactly what your home or search area is doing.

What This Means For Buyers

Buyers have more choice than they did in more competitive periods.

That does not mean every property is negotiable. Well-priced homes in desirable areas can still move quickly, especially single-family homes and townhomes.

Buyers should:

  • Get pre-approved
  • Watch new listings closely
  • Compare recent sold prices
  • Understand property type differences
  • Avoid assuming all sellers are desperate
  • Use conditions strategically
  • Be ready to act on strong homes

This is a market where patience and preparation both matter.

What This Means For Sellers

Sellers need to compete.

More inventory means buyers can compare options. Pricing too high can lead to weaker showings, longer days on market, and future price reductions.

Sellers should:

  • Price based on current comparable sales
  • Review active competition
  • Prepare the home before listing
  • Use strong photography and marketing
  • Watch feedback carefully
  • Adjust quickly if the market does not respond

The homes that perform best are usually the ones that make sense on price, condition, presentation, and timing.

What To Watch Next

The next few months will depend on:

  • Inventory growth
  • Buyer confidence
  • Interest rate expectations
  • Spring and summer listing activity
  • Condo-apartment absorption
  • Townhome and single-family demand
  • Regional differences across Ottawa

If demand continues to absorb supply at a steady pace, Ottawa may remain balanced. If inventory keeps building faster than sales, buyers may gain more negotiating power.

FAQ

Is Ottawa a buyer's market right now?

At the citywide level, May 2026 data points to balanced market conditions. Some segments may feel more buyer-friendly, especially where inventory is higher.

Are Ottawa home prices going up or down?

Prices were largely steady in May 2026. The average and median prices were slightly lower year over year, but both increased from April.

Are condos weaker than houses?

Condo-apartments have been softer than single-family homes and townhomes, with higher months of inventory.

Should buyers wait?

Waiting may create more options, but it can also mean missing a strong property. Buyers should focus on affordability, property quality, and value rather than trying to time the market perfectly.

Should sellers list now?

It depends on the property, preparation, pricing, and competition. Well-prepared homes can still do well, but sellers need a realistic strategy.

Sources

Market data in this article is based on Ottawa Real Estate Board and CREA May 2026 statistics published through OREB's May 2026 market update and monthly statistics package. This page was last updated on June 5, 2026.

View the market update archive.

Final Thoughts

Ottawa's market is steady, active, and more balanced than frenzied. Buyers have more room to think, but good homes still deserve quick attention. Sellers can still succeed, but they need to price and present with discipline.

The best advice right now is local and specific: look at your property type, your neighbourhood, and your price range before making a decision.