Market Overview
Ottawa’s real estate market continued to pick up pace in April as the spring market gained momentum after a quieter winter. Buyer activity increased month over month, and while inventory remains higher than what we’ve seen in recent years, it has stayed relatively steady. With more homes hitting the market this spring, buyers are benefiting from increased selection and greater flexibility.
On the economic side, there is still some uncertainty. The Canadian Real Estate Association recently adjusted its 2026 housing outlook, pointing to a slower-than-expected start to the year and ongoing inflation concerns, including higher energy costs. As a result, expectations for sales and price growth across Canada have become more measured.
Interest rates continue to play an important role in buyer confidence. Earlier this year, concerns around inflation and the possibility of additional rate increases caused some hesitation among buyers. Now that rates have remained stable, that uncertainty has eased somewhat. While borrowing costs are still higher than the record lows seen during the pandemic, they are much closer to historical norms. A more predictable rate environment may encourage more buyers to move forward as confidence gradually improves.
Overall, Ottawa’s market appears to be regaining balance and stability after a slower start to the year.
Residential Market Activity
April saw 1,336 homes sold across Ottawa. While that represents a slight decline compared to the same time last year, it marks a noticeable increase from March activity and reflects improving seasonal momentum.
New listings increased significantly, with more than 3,200 homes entering the market during the month. Active inventory also continued to climb, giving buyers more options than they’ve had in recent years.
Because new listings continue to outpace sales, Ottawa remains in balanced market territory. Homes are also taking slightly longer to sell compared to last spring, suggesting buyers are taking more time and being more selective in their decisions.
Looking at the year so far, sales activity remains somewhat behind 2025 levels, but recent trends point to gradual improvement as the spring market unfolds.
Pricing and Market Conditions
Home prices remained relatively stable in April, continuing the steady pattern we’ve seen over the last several months. The average sale price reached approximately $712,000, while the median price held steady at $650,000. Year-to-date pricing has also remained fairly consistent, showing little movement compared to the same period last year.
Benchmark pricing data suggests values are beginning to stabilize after earlier softness in the market. Most housing types posted modest monthly improvements, although condominium apartments continue to be the slowest-moving segment.
Inventory remains one of the biggest factors influencing market conditions right now. Active listings are considerably higher than a year ago, which has created more balanced conditions across many segments of the market. Buyers are benefiting from greater choice, while sellers are facing increased competition and may need to price strategically.
Current months of inventory remain balanced:
- Single-family homes: 3.1 months
- Townhomes: 3.0 months
- Apartments/condos: 4.9 months
A Look Across Ottawa’s Different Markets
Market conditions continue to vary depending on location and property type.
In central Ottawa, pricing has remained relatively steady, but sales activity has softened somewhat. Areas with a higher concentration of condominium apartments continue to experience slower movement and increased inventory, which has resulted in longer selling timelines.
Across suburban neighbourhoods in the east, south, and west end, conditions remain generally balanced. Inventory has increased, but sales activity remains fairly consistent overall. Among suburban markets, Ottawa’s west end continues to stand out as one of the stronger-performing areas, with more stable demand and slightly tighter supply.
Rural markets continue to move at a slower pace, with higher inventory levels and longer selling times compared to suburban communities. These areas currently offer buyers more negotiating power and greater choice, though pricing trends can fluctuate more due to fewer transactions.
Looking Ahead
As we move further into the spring market, Ottawa continues to show signs of steady improvement. Activity has strengthened from the slower pace experienced earlier in the year, even if sales have not yet fully made up for the winter slowdown.
Despite broader economic uncertainty, Ottawa remains relatively stable. Home prices have stayed within a narrow range, and market conditions continue to feel balanced rather than heavily favouring buyers or sellers.
Inventory will be an important trend to watch in the months ahead. Supply has been building for several months and continues to rise through the spring market. While this gives buyers more options and negotiating flexibility, sustained increases in inventory could eventually place downward pressure on pricing and influence seller expectations moving forward.
