Ottawa entered the fall with a slower sales pace. Buyers can compare homes carefully, while sellers need pricing grounded in recent neighbourhood sales.

As of September 2026, Ottawa sales held near August levels while listings increased. Buyers have more time and sellers face more competition.

Update notes: Source: Ottawa Real Estate Board and CREA September 2026 statistics. Month: September 2026. Date updated: October 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

OREB reported 1,010 September sales, down 6.6% year over year and up 0.8% from August. The average price was $685,640, down 1.0% year over year; the median was $625,000, down 0.8%. Inventory reached 4.8 months.

What The Latest Numbers Show

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

  • 1,010 homes sold in September
  • Sales were down 6.6% year over year
  • Sales rose 0.8% from August
  • New listings totalled 2,927, up 3.0% year over year
  • Active listings reached 4,813, up 7.9% year over year
  • The sales-to-new-listings ratio was 34.5%
  • The average sale price was $685,640
  • The median sale price was $625,000
  • Months of inventory was 4.8 overall
  • Median days on market was 27, compared with 22 last September

The sales slowdown makes recent comparable sales especially useful when assessing an asking price.

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.

September’s lower sales-to-new-listings ratio indicates a shift toward buyers; conditions vary by segment.

Prices Show Mixed Signals

September’s average and median prices were close to August levels.

The average fell 1.0% year over year and the median fell 0.8%. The composite benchmark was $623,500, down 0.3% year over year and 2.2% from August.

A citywide average cannot establish the value of a particular home. Compare similar properties in the same area.

Inventory Is The Key Story

The key change was more listings competing for a similar number of sales.

New listings rose 38.1% from August and active listings rose 7.1%. The sales-to-new-listings ratio fell to 34.5%.

Watch whether sales recover during the fall and whether unsold properties return to the market.

Property Type Differences

Not every segment feels the same.

OREB and CREA reported months of inventory as:

  • Single family: 4.4
  • Townhome: 4.0
  • Apartment: 7.3

This suggests single-family homes and townhomes remain firmer than apartments. Condo-apartments continue to be the softer segment, with more supply, longer marketing times, 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 reported sales declines across all three suburban markets. Suburb West had firmer absorption, while Ottawa Centre and the rural markets had more inventory relative to sales.

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
  • Fall listing activity
  • Condo-apartment absorption
  • Townhome and single-family demand
  • Regional differences across Ottawa

One month cannot establish a lasting trend. The next reports will help show whether absorption improves as fall listings ease.

FAQ

Is Ottawa a buyer's market right now?

September’s 34.5% sales-to-new-listings ratio and 4.8 months of inventory point to conditions shifting toward buyers. Buyers may have more negotiating room in segments with higher inventory.

Are Ottawa home prices going up or down?

September’s average fell 1.0% year over year, the median fell 0.8%, and the composite benchmark fell 0.3%.

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 September 2026 statistics published through OREB's October 5, 2026 market update and monthly statistics package. This page was last updated on October 5, 2026.

View the market update archive.

Final Thoughts

Buyers should use the additional time to compare value and suitability. Sellers should review current competition and respond to showing feedback. Both decisions benefit from recent local evidence.

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