2026 – Ottawa Real Estate Board

Balanced Conditions Define Ottawa’s Housing Market in January

Market Overview

Ottawa’s residential market entered 2026 on a balanced footing. Inventory levels remain higher than in recent years, giving buyers more choice, while sellers continue to adjust to conditions that reward accurate pricing and patience. Benchmark prices are down year over year across all housing types, with softer conditions most evident in townhouses and apartments. Detached homes continue to show greater price stability. Overall, January’s data points to a market that is operating more evenly, rather than one under broad-based pressure.

“What January is showing us is a market that’s adjusting in a healthy way,” said Tami Eades, President of the Ottawa Real Estate Board. “We’re seeing more choice for buyers, more realism on the selling side, and pricing that’s responding to those conditions without sharp swings. That kind of balance is a sign of stability, not stress.”

Residential Market Activity

In January, 610 residential properties sold in Ottawa, reflecting a typical post-holiday slowdown while also signalling a steadier start to the year. Sales were 5.6% lower than a year ago but remained within the range of long-term January norms. This points to demand that is still present, even as buyers continue to proceed cautiously amid ongoing affordability considerations.

Pricing activity also reflected seasonal conditions rather than renewed weakness. The average residential sale price was $641,436, down 4.5% from January 2025, a change consistent with winter market dynamics and a more price-sensitive buyer pool. Recent interest rate reductions have begun to ease pressure at the margins. January’s data suggests their impact is appearing first in buyer engagement rather than completed transactions.

The MLS® Home Price Index provides further context. In January, the composite benchmark price declined modestly month over month, with single-family, townhouse, and apartment benchmarks all posting small decreases.

Prices and Market Balance

Supply conditions continue to vary significantly by property type. Overall, new listings totalled 1,522 units, up 8.8% year over year, while active listings reached 2,673. This is an increase of 22.7% from last January. Although inventory levels remain elevated compared to recent seasonal norms, growth has slowed, helping to prevent a buildup of excess supply.

With months of inventory at 4.4, Ottawa’s market is operating closer to long-term, pre-pandemic averages. This level of supply is providing buyers with more choice and negotiating flexibility, while still allowing well-priced homes to attract solid interest. Rather than putting sharp downward pressure on prices, current inventory levels are supporting a more balanced market.

Property Type Breakdown

As noted above, differences in market performance by property type continued to shape Ottawa’s market in January.

Single-Family Homes

Detached homes remained the market’s most stable segment, even as winter conditions weighed on overall activity. In January, 276 single-family homes sold, down 13.8% year over year. Supply levels remained comparatively balanced at 4.3 months of inventory, supported by 1,177 active listings, and 663 new listings, essentially flat year over year.

Prices softened modestly. The average sale price was $793,874, down 3.6% year over year, while the median price held at $750,000, unchanged from last January. Together, these indicators suggest that detached home pricing is adjusting in an orderly manner. The single-family benchmark price also edged lower year over year, marking a shift from the modest gains seen late last year; the decline remains limited.

Townhomes

Townhome sales rose to 215 units, up 6.4% year over year, while new listings increased sharply to 487, up 45.8% from January 2025 and well above December’s 176 new listings. Active listings climbed to 708, a 67.0% increase year over year.

As supply increased, leverage has shifted modestly toward buyers. Months of inventory rose to 3.3, and pricing reflected this adjustment. The average townhouse sale price was $536,106, down 3.3% year over year, while the median price declined 3.4% to $560,000. The townhouse benchmark price was down 3.2% year over year, but rose 1.0% compared to December.

Apartments

The apartment segment showed a constructive month-over-month shift in January, marking a contrast to late 2025. In January, apartment-condo sales increased to 95 from 78 in December, and months of inventory decreased to 6.8 from 7.9, an indication of stronger absorption.

At the same time, supply expanded meaningfully. New listings rose to 312 from 144 in December, and active listings increased to 647 from 617. In other words, January brought a sizeable seasonal influx of condo listings, but improved sales activity helped prevent a further deterioration in market balance.

Pricing in this segment remains the most sensitive anywhere across the Ottawa market. The average apartment sale price was $388,307, down 12.1% from January 2025 and lower than December’s $401,465. While condo pricing continues to adjust, January’s combination of higher sales and lower months of inventory suggests that conditions may be starting to stabilize.

Months of Inventory:

Single Family: 4.3
Townhome: 3.3
Apartment: 6.8

Looking Ahead

January’s data reflects a familiar winter pattern, with slower sales and cautious buyer behaviour shaped by seasonal factors and ongoing economic uncertainty. At the same time, there are early signs that market conditions are beginning to firm. The apartment segment, in particular, showed improving absorption, with lower months of inventory alongside higher sales and dollar volume.

Townhome activity held up, while detached trends remained steady, reinforcing a market that is segmented by property type but remains largely balanced overall.

This picture aligns with CREA’s outlook for 2026, which anticipates improving conditions as lower interest rates gradually draw more sidelined demand back into the market. January supports a credible case for a stronger spring market if rate reductions continue to ease affordability pressures.

January 2026

Housing and Affordability Take Centre Stage in Ottawa’s 2026 Municipal Election

While nearly half of voters undecided for mayor and council, Sutcliffe starts 2026 with a lead

Ottawa, ON – With less than nine months until Ottawa voters head to the polls, a wide-open municipal election is taking shape, and housing affordability is emerging as one of the clearest issues likely to determine who wins and who loses.

To date, three candidates have officially declared their intention to run for mayor: Mark Sutcliffe, the incumbent; Jeff Leiper, a long-time Kitchissippi Ward councillor and chair of the city’s planning and housing committee; and Alex Lawson, a local home builder. Neil Saravanamuttoo, an economist with senior experience at Finance Canada and the G20 Global Infrastructure Hub, recently announced that he is considering entering the race.

New public opinion research from the Ottawa Real Estate Board (OREB) was conducted in December 2025 by Abacus Data, prior to Lawson and Saravanamuttoo jumping into the race. It shows that 49% of Ottawa residents remain undecided about who they will support for mayor, while 47% are undecided at the city council level, underscoring how unpredictable the race is.

On the question of voting intention for mayor, 28% would cast their ballot for Mayor Mark Sutcliffe, 10% for Councillor Jeff Leiper, and 49% are undecided if the election were held today.

Similarly, 32% of residents would vote to re-elect their current city councillor, and 47% are undecided on how to vote if the election were held today.

At the same time, many residents are questioning whether the city is doing enough, quickly, setting the stage for housing, cost of living, and service delivery to become decisive election issues.

A city divided on direction, with voters still up for grabs

According to the survey, almost four in ten Ottawa residents (38%) believe the city is headed in the right direction, while a similar share believes the city is on the wrong track, and a significant portion remain unsure.

This uncertainty in the city’s direction mirrors the uncertainty in the political landscape, with roughly half of voters still weighing their choices for both mayor and council.

“With nearly half of voters undecided, the election in Ottawa is still taking shape,” said Tami Eades, president of the Ottawa Real Estate Board. “Voters are forming their opinions, so there is a real opportunity for candidates in these early stages to focus on policy and what solutions they’ll bring to council if elected. One thing is clear: the data shows that housing affordability and cost of living are front of mind as voters assess who they trust to lead the city.”

Cost of living and housing dominate voter priorities

Housing affordability and cost of living stand out as the most important issues shaping how residents will vote.

More than one in three residents (37%) identify cost of living as the most important issue facing Ottawa today, followed by housing affordability (19%), transit reliability (11%), and homelessness and encampments (10%). When asked what candidates should be focused on heading into the 2026 election, nearly two-thirds (63%) say cost of living should be a priority, while more than half (53%) point to housing affordability.

Housing and related costs are set to play a decisive role at the ballot box. Eighty-two per cent of residents say housing-related issues will be important in determining who they support in the 2026 municipal election, underscoring the central role housing policy will play in shaping the next council’s agenda.

“A home is the biggest cost in most family budgets,” said Eades. “With so many voters undecided, candidates have a real opportunity to connect with voters on issues like housing and get them interested in their campaigns.”

Residents want action and results on housing

The research shows that Ottawa residents are concerned about the state of housing. Nearly four in five residents (79%) say housing is unaffordable, while only five per cent believe it is affordable today. Over the past year, 52% say affordability for homebuyers has worsened, and 57% say affordability for renters has declined, despite market statistics showing some easing, highlighting sustained pressure across both ownership and rental markets.

Housing affordability is also reshaping long-term decisions for many households. Among homeowners, nearly one in four (24%) say they plan to give or pass their home on to their children or family members rather than sell it on the open market, a signal of growing concern that homeownership is becoming increasingly out of reach for the next generation.

“For many families, housing affordability has become a generational issue,” said Nicole Christy, CEO of OREB. “Parents are giving up financial flexibility to afford their kids a chance at homeownership and the many benefits it brings. Voters want solutions to this and more.”

Housing policy as a test of leadership

Beyond housing, the survey highlights broader issues shaping voter attitudes ahead of October 26, 2026. Seventy-six per cent of Ottawa residents say they are concerned about the future of downtown, including vacancies, safety, and economic activity. Confidence in major city projects and municipal finances is mixed, and 40% of residents say they would prefer to keep taxes as low as possible, even if services do not improve.

“With so many voters still undecided, housing affordability isn’t just another policy issue, it’s a litmus test,” said Christy. “Candidates who can bring innovative solutions or show real progress on housing will be best positioned to earn trust in 2026.”

About the survey

The Ottawa Real Estate Board–Abacus Data State of Housing Survey was conducted from December 10 to 22, 2025, among 1,000 residents of the City of Ottawa. Results are accurate within ±2.77 percentage points, 19 times out of 20.

About the Ottawa Real Estate Board (OREB)

The Ottawa Real Estate Board (OREB) is a non-profit association representing more than 4,000 member REALTORS® in the Ottawa region. OREB advocates for policies that promote housing affordability, protect consumers, and support a fair and efficient real estate commercial and residential marketplace.

Media contact

Melanie Coulson
Director of Strategic Communications & Engagement
613-222-7129 | melanie@oreb.ca

OREB Welcomes Adoption of New Zoning By law

OTTAWA, ON – Ottawa is facing a housing affordability crisis affecting residents across the city. Young families are being priced out of neighbourhoods where they work and grew up; seniors are unable to downsize within their own communities, and both homebuyers and renters are struggling to find housing that meets their needs at a cost they can afford. OREB’s REALTORS® work every day with buyers, sellers, landlords, and tenants, and see first-hand how limited housing choice and rising costs affect both those seeking housing and those working to provide it.

The Ottawa Real Estate Board (OREB) welcomes city council’s decision to adopt the Zoning By law, intended to address Ottawa’s housing affordability challenges.

The new zoning by-law is good for home buyers and sellers. It will increase housing supply and expand the range of attainable housing options across the city. The new by-law provides the regulatory foundation needed to deliver more homes in the locations where people want and need to live. It also supports mixed use and transit-oriented development, reduces unnecessary barriers such as minimum parking requirements in urban areas, and creates greater certainty for housing investment.

The new zoning by-law is also good for landlords and tenants. It modernizes zoning rules, providing greater certainty for investment in more affordable rental housing. This will give renters more choice and reduce pressure on the cost of rental housing.

OREB acknowledges that zoning reform is not easy. Across Ontario, municipalities have announced ambitious housing policies only to retreat or dilute them in the face of local opposition. Ottawa’s decision to adopt the new Zoning By law demonstrates leadership and alignment with its Official Plan, housing targets, and long-term economic interests.

OREB is proud to have been one of the leading advocates for the new zoning by-law. Notably, OREB made the new zoning by-law a key component of its delegations to city committees, a priority issue during its recent days of action, a focus of our opinion editorials over the past year, and recent research we commissioned with Abacus Data.

OREB appreciates the leadership shown by Mayor Sutcliffe, Members of Council, and City staff, and looks forward to continuing to work collaboratively to support policies that expand housing opportunities for Ottawa residents.

Housing and affordability top voter concerns as Ottawa heads toward 2026 elections

82 per cent of residents say housing-related issues will be important in determining who they support in the 2026 municipal election

Ottawa, ON — With just nine months until the 2026 municipal elections, housing affordability and the cost of living will continue to be the most pressing issues for Ottawa residents, according to new public opinion research from Abacus Data released today by the Ottawa Real Estate Board (OREB). The poll is among the largest surveys of Ottawa residents since the 2022 municipal election, with 1,000 responses.

Cost of living a major concern

According to the survey, more than one in three residents (37 per cent) say cost of living is the most important issue facing Ottawa today, followed by housing affordability (19 per cent), LRT confidence and transit reliability (11 per cent), and homelessness and encampments (10 per cent). Cost of living was identified by 63 per cent of residents as a priority issue that candidates running in the 2026 Ottawa municipal election should be focused on, followed by housing affordability (53 per cent), transit reliability (37 per cent), and the city budget and taxes (32 per cent).

“People are struggling to make ends meet, and they want action to help make life more affordable,” said Tami Eades, president of the Ottawa Real Estate Board. “A home is the biggest cost in most families’ budgets, so the number one thing the city can do to ease the cost-of-living crisis is to help generate more attainable housing. With an election happening in October, it’s clear that candidates need to be focused on housing.”

Residents want more action on housing

The research shows housing affordability will likely be a major issue for voters heading into the 2026 municipal election. More than three-quarters of residents (77 per cent) say housing in Ottawa is unaffordable, while only five per cent believe housing is affordable today. Over the past year, 51 per cent say affordability for homebuyers has worsened, and 59 per cent say affordability for renters has declined even as rents have begun to come down, highlighting continuing pressure across both ownership and rental markets.

Housing is also set to play a decisive role at the ballot box. Eighty-two per cent of residents say housing-related issues will be important in determining who they support in the 2026 municipal election, underscoring the central role housing policy will play in shaping the next council’s agenda.

The survey also highlights how rising housing costs are reshaping long-term housing decisions for Ottawa residents. Among homeowners, nearly one in four (24 per cent) say they plan to give or pass their home on to their children or family members, rather than sell it on the open market. These findings underscore the growing concern that housing has become increasingly difficult to afford for the next generation, with intergenerational transfers seen by many families as one of the few remaining pathways to homeownership.

“For many families, housing affordability has become a generational issue,” said Nicole Christy, CEO of OREB. “Parents are passing up the opportunity to add tens of thousands of dollars to their retirement savings so that their kids have a shot at the Canadian dream. Homeownership should be attainable for everyone, not just those whose parents can afford it.”

Transit and other issues

Beyond housing, the survey highlights a range of issues shaping voter priorities heading into 2026. Public safety, homelessness, and downtown conditions remain key concerns, with 76 per cent of Ottawa residents saying they are concerned about the future of downtown, including vacancies, safety, and economic activity. Confidence in major city projects is also mixed. More residents oppose Lansdowne 2.0 (37 per cent) than support it (27 per cent), and 43 per cent view the project as an unnecessary financial burden, reflecting sensitivity to large-scale spending decisions.

Transit reliability continues to be a major issue, with 37 per cent identifying it as a priority for candidates in the 2026 municipal election, and reliability and service disruptions cited as the top problems facing OC Transpo. At the same time, voters remain cautious about municipal finances. Forty-three per cent of residents say they would prefer to keep taxes as low as possible, even if services do not improve, signalling limited appetite for tax increases and a strong focus on value for money.

About the survey

The Ottawa Real Estate Board–Abacus Data State of Housing Survey was conducted from Dec. 10 to 22, 2025, among 1,000 residents of the City of Ottawa. Results are accurate to within plus or minus 2.77 percentage points, 19 times out of 20.

About the Ottawa Real Estate Board

The Ottawa Real Estate Board (OREB) is a non-profit association representing more than 4,000 member REALTORS® in the National Capital Region. OREB advocates for policies that promote housing affordability, protect consumers, and support a fair and efficient real estate marketplace.

Media contact

Melanie Coulson
Director of Strategic Communications & Engagement
613-225-2240 ext. 247| melanie@oreb.ca

Ottawa Housing Market Closes 2025 on a Note of Stability

Ottawa’s housing market closed out the year with a typical December slowdown in activity.

Sales softened further, reinforcing the cautious tone that emerged this fall. Inventory levels declined, while prices remained broadly stable. Despite a quiet finish in November and December, annual sales in 2025 ended 1.3% higher than in 2024 by total sales, and 4.1% higher than 2024 by total dollar volume, pointing to a year defined by balance and overall stability.

The year followed an unconventional seasonal pattern, beginning with a delayed spring, transitioning into a steady summer that avoided the usual mid-year dip, and then moderating again through the fall and early winter.

Ottawa continues to show resilience compared with the price corrections seen in some larger Canadian markets. December data suggests a market that is holding steady, offering buyers more choice while maintaining generally steady conditions. That said, market performance continues to vary meaningfully by property type, with the condo segment remaining the softest area of the market.

“Even with a quieter finish to the year, Ottawa’s housing market showed real stability in 2025,” said Tami Eades, President of the Ottawa Real Estate Board. “Sales and dollar volume both surpassed 2024 levels despite more moderate conditions through the fall. That balance points to a market driven by fundamentals, not pressure.”

Residential Market Activity

In December, 587 residential properties sold, down 32% from November but consistent with typical December activity when excluding the unusually strong pandemic markets of 2020 and 2021. Since 2018, average December sales (excluding those two years) have been 583 units. While the slowdown reflects normal seasonal patterns, it also points to continued buyer caution.

On the supply side, new listings declined as expected, and active listings fell from 3,628 in November to 2,544 in December, reflecting the usual holiday-season slowdown. Even so, inventory levels remain elevated compared with recent December norms, continuing the trend seen throughout the fall of increased choice for buyers.

Since 2022, Ottawa has seen a multi-year trend across all market segments toward higher year-end inventory levels. While seasonal absorption typically limits a sharp buildup of listings in December, it has not fully offset the higher volume of inventory entering the market earlier in the year. Year-to-date active listings in December 2025 were 19% higher than last year, 45% higher than 2023, and 89% higher than in 2022. Months of inventory rose to 4.3, higher than last December and closer to long-term, pre-pandemic averages.

Prices and Market Balance

Prices remained relatively stable in December. The average residential sale price was $658,943, essentially unchanged from December 2024. This follows November’s modest year-over-year increase and reflects a market where prices are being supported, but not driven higher.

The MLS® Home Price Index offers additional context. The composite benchmark price has declined month over month since the summer, yet still finished 2025 slightly above 2024 levels overall. This suggests price adjustment is occurring gradually at the benchmark level, even as averages prices continue to be influenced by the mix of homes sold.

Overall, the market remains balanced. Buyers have more leverage than in recent years, while sellers continue to benefit from steady demand and relatively resilient pricing.

Property Type Breakdown

Market conditions continue to vary meaningfully by property type.

Single-Family Homes

In December, detached homes continued to outperform townhomes and condos. Prices remained comparatively stable, with supply balanced with 4.3 months of inventory. The single-family benchmark price posted a 0.4% year-over-year increase, underscoring the resilience of this segment. Limited availability and consistent demand continue to support detached homes, which remain the anchor of Ottawa’s market stability.

Townhomes

Townhomes continue to adjust as inventory levels remain slightly elevated. Sales activity has been more resilient than in the apartment segment, though pricing pressure is becoming more apparent. The townhouse benchmark price declined 3.7% year over year, the average sale price fell just 1.4%. This gap suggests that softness has been more pronounced at the benchmark level than in actual transactions. Sales mix and sustained interest from first-time buyers, who continue to view townhomes as a more accessible entry point, have helped support average and median prices.

Apartments (Condos)

The apartment segment remains the softest part of the Ottawa market, with December data reinforcing trends seen in November. Sales activity remained subdued, while months of inventory climbed to nearly eight, well above balanced levels.

The apartment benchmark price declined on a year-over-year basis, reflecting growing supply relative to demand. While Ottawa has not seen the level of condo oversupply present in larger urban markets, the trajectory remains one to monitor closely.

Months of Inventory:

Single Family: 4.3
Townhome: 2.8
Apartment: 7.9

Looking Ahead

As Ottawa enters the new year, December’s data suggests that any improvement in activity is likely to be gradual rather than immediate. Interest rate relief has helped support confidence, but buyers continue to move carefully, keeping a close eye on broader economic conditions. A period of modest ups and downs within an overall theme of stability appears likely for 2026.

While close monitoring of the oversupplied condo apartment segment remains important, the broader message for REALTORS® and consumers is consistent: Ottawa’s housing market remains stable, segmented by property type, and increasingly shaped by fundamentals rather than urgency.