The May 2026 Ottawa Real Estate Market Update

The latest statistics are out from the Ottawa Real Estate Board, and they show Ottawa’s spring market running strong after a slow winter. April delivered a healthy month-over-month bump in activity, with 1,336 homes sold compared to 1,075 in March – though sales were still down 1.9% year over year. New listings jumped sharply (+19.3%), keeping inventory elevated and the overall market firmly balanced.

Prices held steady in April. The average sale price came in at $712,184 (+0.8% year over year) and the median was $650,000, unchanged from last April. With a sales-to-new-listings ratio of 41.0% and 3.4 months of inventory overall, the Ottawa market is much more balanced than it was earlier this winter – but the picture varies considerably by property type:

• Single-family homes continue to be the steadiest segment, with prices down just 0.1% from 2025 and with months of inventory at 3.1 – squarely in balanced territory. This is where most of Ottawa’s market activity is happening, and pricing remains stable.
• Townhomes are the tightest segment of the market at just 3.0 months of inventory, which is leaning towards a seller’s market. Despite this, prices were down -3.8% from April 2025.  Buyers looking at townhomes should expect more competition here than anywhere else in the city.
• Condo apartments continue to be the softest segment, with 4.9 months of inventory – well into buyer’s market territory. Despite this, prices have recovered since the beginning of the year and were only down -1.3% from 2025 last month. This spring continues to be an excellent window for condo buyers with strong selection and real negotiating room.

As we move deeper into spring, the message for sellers hasn’t changed much from last month: pricing accurately from day one is critical. Inventory has been building for months and continues to climb, which means overpriced listings will sit while well-priced ones move. For buyers, this remains one of the best windows of negotiating power we’ve seen in years – especially in the condo segment.

Looking forward, we are heading out of the busiest part of the year and moving into the slower summer period. That usually means a shift from sellers towards buyers as sellers who were unable to sell during the peak months drop their prices to attract the remaining buyers. If you are looking to buy, this summer should be a great time for that, and if you are looking to sell, make sure to price and market your property competitively to attract interest in what is usually a slow season.

Best,

Chris Hendricks,

REALTOR®, Real Estate Broker

P.S. If you are thinking about selling your home this spring, picking the right price is going to be crucial in this market. Click here for a free market value appraisal so you can know exactly what your home is worth and sell with confidence.