The Ottawa Real Estate Brief – October 2026
This month’s market, in five minutes.
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: Last month I said we were heading into a slow fall season and so far my prediction has been correct. September was another slow month for sales, and the listings kept coming. Single-family prices slipped back to where they were a year ago, townhomes are still down, and condos remain the weakest category in the city. Meanwhile mortgage rates have gone up. Supply is the number to watch this fall, and right now it favours buyers.
Total Sales Volume
1,010 homes sold through the MLS® System in Ottawa in September, down 6.6% compared to September 2025. To date, 10,288 homes have sold in Ottawa, down 6.9% from the same period in 2025, with total dollar volume of approximately $7.2 billion, down 7.3% year over year.
Benchmark Prices by Property Type
Here are the benchmark prices by property type across Ottawa in September.
| Property Type | September 2026 Benchmark | vs. September 2025 | Direction |
|---|---|---|---|
| Single-Family Home | $705,100 | −0.1% | Back to flat |
| Townhome | $546,500 | −2.2% | Still adjusting |
| Condo / Apartment | $380,800 | −6.1% | Softest category |
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:
| Property Type | Months of Inventory | Market Conditions |
|---|---|---|
| Single-Family Home | 4.4 | Balanced, buyer-leaning |
| Townhome | 4.0 | Balanced |
| Condo / Apartment | 7.3 | Buyer’s market |
Ottawa’s overall inventory rose to 4.8 months in September, up from 4.5 in August, the highest September level in a decade. We are still technically in a balanced market, but only just, and condos at 7.3 months are well into buyers market territory. Listings usually thin out in October and November, so I expect some of this supply to come off the market before the snow does. If it doesn’t, prices will have to give a little more before the new year. Last month I said this would be a good fall for buyers. September didn’t change my mind.
Here is my take on what this means for buyers and sellers right now:
For sellers: Single-family owners have lost the edge they had last month. With 4.4 months of supply and a benchmark back to last year’s level, buyers set the pace now, so price for the market you are selling into and expect to negotiate. Townhomes are the tightest category in the city at 4.0 months, which gives a well-priced townhome a real shot at a quick sale; an overpriced one will watch the neighbours sell first. Condo sellers are facing more than seven months of supply and a benchmark down 6.1% in a year. If you need to sell this year, price sharper than the competition from day one; the second price drop always costs more than the first.
For buyers: This is shaping up as the best fall for buyers in years. Condo buyers have more than seven months of supply to choose from and room to negotiate. Single-family buyers have more homes to compare and time to think before writing an offer. Townhomes are the one category where good listings still move quickly, so be ready when the right one comes up. If you have been waiting on the sidelines, the window is the next two months, before listings thin out for the winter.
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
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