The Ottawa Real Estate Brief – September 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: August sales dropped, but prices didn’t follow them down. Single-family homes are the only category that is up, while townhomes and condos continue to be weak. Supply has grown in all three categories, which is the number that will matter for this year’s fall market.
Total Sales Volume
1,002 homes sold through the MLS® System in Ottawa in August, down 18.6% compared to August 2025. To date, 9,283 homes have sold in Ottawa, down 6.9% from the same period in 2025, with total dollar volume of approximately $6.5 billion, down 7.2% year over year.
Benchmark Prices by Property Type
Here are the benchmark prices by property type across Ottawa in August.
| Property Type | August 2026 Benchmark | vs. August 2025 | Direction |
|---|---|---|---|
| Single-Family Home | $726,700 | +2.2% | Only segment gaining |
| Townhome | $547,300 | −4.0% | Softest on price |
| Condo / Apartment | $392,900 | −3.6% | Still adjusting |
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 segment stands:
| Property Type | Months of Inventory | Market Conditions |
|---|---|---|
| Single-Family Home | 4.0 | Balanced |
| Townhome | 4.1 | Balanced |
| Condo / Apartment | 6.3 | Buyer’s market |
Ottawa’s overall months of inventory jumped to 4.5 in August, up from 3.5 in July. We are now at the highest August level since 2016. So while we are still technically in a balanced market, I suspect this fall will be a good one for buyers. Keep in mind that we are now four years after the peak of the market in 2022 – and if you had bought four years after the last correction, in 2012, you would have done pretty well for yourself.
Here is my take on what this means for buyers and sellers right now:
For sellers: Single-family owners still hold the strongest hand, and rising benchmark prices back that up, but 4.0 months of supply is not the strong sellers market that single family owners might be hoping for. Townhome sellers no longer have the tight supply that was working in their favour all summer, so ask what the market pays today rather than what your neighbour got in 2024. Condo sellers are in a true buyer’s market and need to price honestly from day one; a listing that waits for the market to come to it will wait a long time.
For buyers: Condos remain the clearest opportunity in the city, with more than six months of inventory giving you time, choice, and room to negotiate. Single-family and townhome buyers finally have enough listings to compare and enough time to think before writing. If you have been waiting on the sidelines, this is a great fall to find your dream home. We are four years after the last peak in the market so this is where the good deals can be found.
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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