The Ottawa Real Estate Brief – November 2026
This month’s market, in five minutes. Want to stay on top of the Ottawa Real Estate Market? Click here to sign up to get the Ottawa Real Estate Brief in your inbox.
The latest Real Estate Statistics are in, so let’s have a look and pull out the numbers that matter most for you.
In brief: Availability tightened as prices declined overall in October, while sales ran well behind last year’s number. Single family homes held their value, and townhomes and condos kept giving up ground. Condos are now well into buyer’s market territory and interest rate hikes from the Bank of Canada are poised to create even further drag going forward.
Total Sales Volume
1,048 homes sold through the MLS® System in Ottawa in October, down 10.7% compared to October 2025. To date, 11,335 homes have sold in Ottawa, down 7.3% from the same period in 2025, with total dollar volume of approximately $7.9 billion, down 8.0% year over year.
Benchmark Prices by Property Type
Here are the benchmark prices by property type across Ottawa in October.
- Single-Family Home: $699,200, down 0.8% from last year.
- Townhome: $539,800, down 4.3% from last year.
- Condo / Apartment: $377,500, down 5.3% from last year.
Months of Inventory
Months of inventory shows us where prices are likely to head over the next few months. Lower supply means sellers hold leverage and prices go up; higher supply means buyers can choose between multiple listings and prices will trend down. Here is where each category stands:
- Single-Family Home: 4.0 months. Balanced.
- Townhome: 3.6 months. Balanced.
- Condo / Apartment: 7.4 months. Buyer’s market.
Last month I expected some supply to come off the market this fall, and it did: Ottawa’s overall inventory eased to 4.4 months in October from 4.8 in September, which keeps supply from being overwhelming. Townhomes have the tightest supply of the three at 3.6 months, yet the benchmark is down 4.3%, which tells me that oversupply isn’t the problem, buyers simply aren’t willing to pay 2025 prices. Condos at 7.4 months are in over-supply: the selection is great and there is a lot of room to negotiate.
What This Means Right Now
For sellers: Single family owners hold the strongest hand: four months of supply and a benchmark barely off last year. As long as you don’t expect to get the price your neighbours did back in 2022, well priced single family homes are moving. Townhome sellers have the thinnest supply in the city working for them, which only pays off if the price is right on day one. Condo sellers are in a true buyer’s market at 7.4 months, and a listing priced for 2025 will sit.
Thinking of Selling? Get my free Ebook on how to sell your home quickly and for the best price.
For buyers: This fall is probably the best time in the past 6 years to buy a condo. At 7.4 months you have time, selection, and room to negotiate, which is a great opportunity for first time buyers, downsizers and investors. Townhomes are trickier than the price trend suggests, because 3.6 months of supply means the well priced ones still move, so be ready to act when you find the right one. Single family buyers face the most competition of the three, though nothing like the bidding wars of a few years ago.
Looking for a deal on a condo? Get access to my invisible market list of foreclosures, estate sales and off-market properties.
As always, if you want to know what the market means specifically for your property or your search, reach out to me.
And there you go, this month’s Ottawa real estate market update, delivered to you in five minutes.
Best,
Chris Hendricks,
REALTOR®, Real Estate Broker
P.S. Curious what your home is worth in today’s market? I offer a no-obligation home evaluation, just a clear picture of where you stand. Request yours here.
