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 August 2026, Ottawa sales slowed sharply while prices held relatively steady. Buyers have more time and sellers face more competition.

Update notes: Source: Ottawa Real Estate Board and CREA August 2026 statistics. Month: August 2026. Date updated: September 3, 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 1,002 August sales, down 18.6% year over year and 24.4% from July. The average price was $688,253, up 0.3% year over year; the median was $622,357, down 1.2%. Inventory rose to 4.5 months as sales slowed.

What The Latest Numbers Show

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

  • 1,002 homes sold in August
  • Sales were down 18.6% year over year
  • Sales fell 24.4% from July
  • New listings totalled 2,119, unchanged year over year
  • Active listings reached 4,496, up 11.3% year over year
  • The sales-to-new-listings ratio was 47.3%
  • The average sale price was $688,253
  • The median sale price was $622,357
  • Months of inventory was 4.5 overall
  • Median days on market was 29, compared with 28 last August

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.

Citywide balance can coexist with slower sales and softer individual segments.

Prices Are Holding Steady

Ottawa prices were relatively stable in August.

The average price rose 0.3% year over year and the median fell 1.2%. The composite benchmark reached $637,700, up 1.0% year over year.

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 slower sales relative to available supply.

New and active listings both fell from July, but sales fell faster. Lower listing counts alone do not show that buyers absorbed the inventory.

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: 4.0
  • Townhome: 4.1
  • Apartment: 6.3

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 Center and Rural East 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 August was a temporary slowdown.

FAQ

Is Ottawa a buyer's market right now?

August showed softer demand within broadly balanced conditions. Buyers may have more negotiating room in segments with higher inventory.

Are Ottawa home prices going up or down?

August prices were relatively steady: the average rose 0.3% year over year, the median fell 1.2%, and the composite benchmark rose 1.0%.

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 August 2026 statistics published through OREB's September 3, 2026 market update and monthly statistics package. This page was last updated on September 3, 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.