April
OREB reported
Mix and seasonality can affect averages
Citywide supply context
Monthly ratio
Ottawa Q2 2026: A Balanced Market on the Surface, a Divided Market Underneath
The citywide residential baseline around Ottawa’s high-value residential market.
Recorded: Q2 2026 · April → JuneStatus: Industry trade-association market data
60–90 second scan
Key Intelligence
The quarter’s citywide signal, pattern, interpretation, and decision context — with OREB facts kept distinct from OLR analysis.
signal
Quarter signal
1,336 sales in April; 1,518 in June.
pattern
Pattern across the quarter
Average-price movement alone is not proof of broad market appreciation: seasonality and the mix of properties sold can affect the average. The stronger Q2 signal was improved spring absorption followed by a clearer split among property types.
interpretation
OLR interpretation
Ottawa remained balanced through the spring, but the citywide headline concealed a widening split underneath: single-family homes remained comparatively resilient, townhomes became more supply-sensitive and apartments continued to carry the clearest signs of weakness.
decision
Decision implications
Start with the citywide environment, then narrow analysis to the relevant property type, neighbourhood, price band and specific property.
verification
Verify next
Use current property-specific evidence and qualified professional advice before acting.
Ottawa remained balanced through the spring, but the citywide headline concealed a widening split underneath: single-family homes remained comparatively resilient, townhomes became more supply-sensitive and apartments continued to carry the clearest signs of weakness.
Quarter at a Glance
May
OREB reported
Mix and seasonality can affect averages
Citywide supply context
Monthly ratio
June
OREB reported
Mix and seasonality can affect averages
Citywide supply context
Monthly ratio
Quarter Progression
Q2 monthly progression
| Comparison | April | May | June |
|---|---|---|---|
| Sales | 1,336 | 1,616 | 1,518 |
| Average sale price | $712,184 | $721,270 | $733,648 |
| Median sale price | $650,000 | $660,000 | $655,000 |
| Months of inventory | 3.4 | 3.0 | 3.3 |
| Sales-to-new-listings | 41.0% | 48.2% | 48.8% |
- Option
- April
- Sales
- 1,336
- Average sale price
- $712,184
- Median sale price
- $650,000
- Months of inventory
- 3.4
- Sales-to-new-listings
- 41.0%
- Option
- May
- Sales
- 1,616
- Average sale price
- $721,270
- Median sale price
- $660,000
- Months of inventory
- 3.0
- Sales-to-new-listings
- 48.2%
- Option
- June
- Sales
- 1,518
- Average sale price
- $733,648
- Median sale price
- $655,000
- Months of inventory
- 3.3
- Sales-to-new-listings
- 48.8%
OLR interpretation: Average-price movement alone is not proof of broad market appreciation: seasonality and the mix of properties sold can affect the average. The stronger Q2 signal was improved spring absorption followed by a clearer split among property types.
What Changed
April: Spring Supply Arrived
- 1,336 sales; -1.9% year over year
- 3,258 new listings
- 4,535 active listings; +17.2% year over year
- $712,184 average price; $650,000 median price
- 3.4 months of inventory; 41.0% sales-to-new-listings
OLR interpretation: Spring activity strengthened, but new supply increased rapidly and buyers gained more choice.
May: Absorption Improved
- 1,616 sales; -10.6% year over year
- 4,917 active listings; +12.2% year over year
- $721,270 average price; $660,000 median price
- 3.0 months of inventory; 48.2% sales-to-new-listings
OLR interpretation: Seasonal sales improved and incoming supply was absorbed more effectively. However, sales remained below the previous year.
June: The Internal Split Became Clearer
- 1,518 sales; -4.9% year over year
- $733,648 average price; $655,000 median price
- 48.8% sales-to-new-listings; 3.3 months of inventory
- 98.5% average sale-to-list ratio; 22 median days on market
- 6,969 year-to-date sales; -6.1% year over year
OLR interpretation: Supply increased without producing a market-wide correction — but its effect became increasingly different depending on the property being sold.
What Held
- Ottawa remained broadly balanced.
- Citywide pricing remained relatively stable.
- Supply was elevated but continued to find buyers.
- Single-family homes provided comparatively stronger support.
- Suburban markets continued to account for most residential activity.
What Diverged
June market split
| Comparison | Single-family | Townhomes | Apartments |
|---|---|---|---|
| Sales | 879 | 429 | 178 |
| Year over year | -1.8% | -7.3% | -14.0% |
| Months of inventory | 2.8 | 3.2 | 5.3 |
| Active inventory | Not supplied | +27.6% YoY | Not supplied |
| HPI benchmark | -0.7% YoY | -3.9% YoY | -6.0% YoY |
| OLR interpretation | Comparatively resilient — not booming. | More supply-sensitive. | The softest major property segment. |
- Option
- Single-family
- Sales
- 879
- Year over year
- -1.8%
- Months of inventory
- 2.8
- Active inventory
- Not supplied
- HPI benchmark
- -0.7% YoY
- OLR interpretation
- Comparatively resilient — not booming.
- Option
- Townhomes
- Sales
- 429
- Year over year
- -7.3%
- Months of inventory
- 3.2
- Active inventory
- +27.6% YoY
- HPI benchmark
- -3.9% YoY
- OLR interpretation
- More supply-sensitive.
- Option
- Apartments
- Sales
- 178
- Year over year
- -14.0%
- Months of inventory
- 5.3
- Active inventory
- Not supplied
- HPI benchmark
- -6.0% YoY
- OLR interpretation
- The softest major property segment.
OLR interpretation: Ottawa’s Q2 market was not uniformly strong or weak. Property type increasingly determined the experience of buyers and sellers.
Geography Signal
- Suburban areas represented more than 70% of Ottawa sales.
- Ottawa Suburb South recorded 382 sales, the highest sales volume.
- Ottawa Suburb West recorded 373 sales and showed the firmest absorption.
- Ottawa Suburb East recorded 328 sales.
- Ottawa Centre recorded 143 sales and carried higher inventory than the citywide level.
- Rural markets remained more variable due to smaller transaction totals.
OLR interpretation: Geography reinforced the same message as property type: citywide averages were becoming less useful on their own.
Luxury Market Lens
Q2 does not prove that Ottawa’s luxury market strengthened or weakened. OREB’s figures cover the broader residential market. Their value for high-end buyers and sellers is that they reveal the environment surrounding higher-value transactions: comparatively resilient detached conditions, elevated buyer choice, softer apartment conditions and increasingly important micro-market differences.
Ottawa luxury is not one market.
Ottawa luxury is not one market. A detached estate, waterfront residence, central prestige home and luxury condominium do not necessarily respond to the same market conditions. Treat citywide data as baseline context — not a property-specific conclusion.
What It May Mean
More listings create choice, but negotiating leverage depends heavily on the specific property.
- Property type
- Neighbourhood
- Condition and competition
- Scarcity and price band
Elevated supply increases the cost of being incorrectly priced. For high-value properties, differentiation should focus on what is genuinely difficult to reproduce.
- Land, location and privacy
- Waterfront and architecture
- Neighbourhood, condition and lifestyle fit
Apartment softness deserves attention, but current resale softness is not a definitive long-term investment conclusion.
- Future apartment completions
- Rental and resale demand
- Population, household formation and investor activity
Supply Context
CMHC data cited by OREB
Ottawa, May
Of units under construction
Reported stock
2025 rate
2025 rate
OLR interpretation: The important question is not simply how many apartments are under construction. It is whether resale demand, rental demand and new household formation can absorb those units as projects are completed.
What to watch in Q3
- Whether elevated inventory continues to be absorbed.
- Whether single-family resilience persists.
- Whether apartment pricing remains comparatively soft.
- Suburban versus central absorption.
- Sales-to-new-listings ratio.
- Months of inventory.
- Median days on market.
Original Ottawa Luxury Realty editorial interpretation. Please share this page by link rather than copying or reproducing the content.
Sources Reviewed
Ottawa Real Estate Board
- April 2026 Market Update
- May 2026 Market Update
- June 2026 Market Update
Source Classification
Industry trade-association market data
Primary source: Ottawa Real Estate Board monthly Market Updates. Ottawa Luxury Realty uses these reports as source material and independently interprets the patterns most relevant to high-value residential decisions.
Research-led. Source-aware. Independent.
Research-led. Source-aware. Independent.
Disclaimer
This article is for general informational purposes only. OREB data describes the broader Ottawa residential market and should not be interpreted as a dedicated luxury-market dataset, property valuation, investment recommendation, or prediction of future market performance. Conditions can vary materially by neighbourhood, property type, price band and individual property.
This article is for general informational purposes only. OREB data describes the broader Ottawa residential market and should not be interpreted as a dedicated luxury-market dataset, property valuation, investment recommendation, or prediction of future market performance. Conditions can vary materially by neighbourhood, property type, price band and individual property.
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