Ottawa in July 2026
The Ottawa Real Estate Board recorded 1,002 home sales in August 2026 — down 18.6% year over year and 24.4% from July, against a typical July-to-August decline of 5.8% over the previous decade. The drop was broad: single-family sales fell 16.3% to 535, townhouses 19.9% to 310, and apartments 22.3% to 136. Prices held far steadier than volumes. The MLS’ HPI composite benchmark rose to $637,700, up 1.0% year over year and 0.6% on the month, while the average sale price edged up 0.3% to $688,253. Months of inventory jumped from 3.5 to 4.5 — the highest August reading since 2016.
New listings totalled 2,530 in July, down 0.8% year-over-year, while active listings climbed to 4,678 — up 9.3% from July 2025, though down 6.1% from June. The sales-to-new-listings ratio rose to 52.4%, up from 48.8% in June, pointing to a modest improvement in the balance between supply and demand. OREB President Tami Eades described July's results as "a steady market as it moves through the typical summer slowdown," noting that sales remained close to last year's level while fewer new listings helped improve the balance between supply and demand. Single-family homes were the steadiest segment, while the condo/apartment market continued what Eades called a "yearlong trend of soft conditions," particularly downtown.
Source: Ottawa Real Estate Board (OREB), news release, September 3, 2026 (August 2026 data).
Sales-to-new-listings ratio and month-over-month figure: Source: OREB, news release, Aug 6, 2026. Buyer's/balanced/seller's thresholds shown here follow standard real estate industry convention for the sales-to-new-listings ratio and are not an official OREB classification.
Benchmark, Average & Median Prices
Ottawa's MLS® HPI composite benchmark price was $637,700 in August 2026 — down 0.5% from a year earlier but up 0.3% from June. The average sale price was $683,308 (−1.6% YoY), while the median price held at $635,000, unchanged from July 2025.
Source: Ottawa Real Estate Board (OREB), news release, September 3, 2026 (August 2026 data).
Prices & Sales by Property Type
Benchmark prices diverged sharply by property type. Single-family homes were the only segment to post a year-over-year gain, while townhouses and apartments/condos both declined.
| Property Type | Benchmark YoY | Sales (August) | Sales YoY |
|---|---|---|---|
| Single-Family | ▲ 0.6% | 714 | ▲ 5.0% |
| Townhouse | ▼ 5.1% | 417 | ▼ 4.1% |
| Apartment / Condo | ▼ 5.2% | 169 | ▼ 6.6% |
Source: Ottawa Real Estate Board (OREB), news release, September 3, 2026 (August 2026 data). OREB's monthly release reports benchmark price change by property type as a year-over-year percentage only; it does not publish a separate per-type benchmark dollar figure or month-over-month change in its summary release, so those figures are omitted here.
Supply and Demand Breakdown
New listings eased slightly while active listings continued to build, up 9.3% from a year ago even as they retreated from June's level. Months of inventory varied meaningfully by segment — single-family (3.2) and townhouse (3.0) supply remained tight, while apartments/condos carried a notably higher 5.4 months of inventory, consistent with OREB's characterization of a "yearlong trend of soft conditions" in the condo segment, particularly downtown.
Source: Ottawa Real Estate Board (OREB), news release, September 3, 2026 (August 2026 data).
What's Driving the Market
Interest rates: The Bank of Canada's overnight rate held at 2.25% through mid-2026, with 5-year fixed rates settling around 4.29–4.69%. Lenders continue to qualify borrowers under OSFI's B-20 stress test — the greater of the contract rate + 2%, or 5.25%. See our guide to the 2026 stress test for details.
A federal-government-anchored economy: Ottawa's employment base is heavily weighted toward the federal public service, which has historically provided a degree of stability relative to markets more exposed to housing-sensitive or resource sectors. That said, OREB's July commentary points to real softness concentrated in the condo/apartment segment, particularly downtown, even as single-family demand held firm.
Listings versus demand: New listings eased slightly (−0.8% YoY) while sales held roughly flat, nudging the sales-to-new-listings ratio up to 52.4% from 48.8% in June — the kind of incremental tightening OREB President Tami Eades characterized as an improving balance between supply and demand, even as the market overall remains in a seasonal summer lull.
Key Terms
Ottawa Rents — July 2026
Per Rentals.ca reporting, the average asking rent across all Ottawa unit types was $2,164/month in July 2026, down 2.4% year-over-year. One-bedroom units averaged $1,960/month, while two-bedroom units averaged $2,449/month. Thinking about whether to rent or buy in today's market? Try our rent vs. buy calculator.
Source: Rentals.ca National Rent Report, July 2026 data (figures corroborated via search, not independently primary-verified). View full Canadian rent report →