Ottawa Real Estate Market Update – August 2026 | Sales Slow Down While Prices Hold Steady

Ottawa’s Housing Market Slows Heading Into Fall

Sales activity softened in August, while stable prices and increased inventory are creating a changing market for Ottawa buyers and sellers.

Ottawa’s real estate market experienced a noticeable slowdown in August 2026. Sales declined both year over year and compared with July, while the number of homes available for sale remained higher than this time last year. Despite the slowdown in activity, home prices remained relatively stable.

A total of 1,002 homes were sold through the MLS® System in August, representing an 18.6% decrease compared with August 2025. Sales were also down 24.4% from July, a larger-than-usual seasonal decline for this time of year.

The average residential sale price was $688,253, up slightly by 0.3% year over year. The median sale price was $622,357, while the composite benchmark price reached $637,700, up 1.0% compared with August 2025. Overall, prices remained considerably steadier than sales activity.

Inventory continues to be an important part of the story. Ottawa had 4,496 active listings at the end of August, an increase of 11.3% from last year. Months of inventory also increased to 4.5 months, compared with 3.3 months in August 2025.

This combination of slower sales and higher inventory is giving buyers more choice, while sellers are facing increased competition for buyer attention.

What this means for Buyers

Buyers are seeing less competitive conditions in many parts of the Ottawa market. More inventory means greater choice, more time to compare properties, and potentially more room to negotiate when the circumstances are right.

This can also give buyers more opportunity to complete their due diligence and make informed decisions rather than feeling pressured to act quickly. OREB noted that buyers are seeing less competitive conditions and having more time to make decisions.

What this means for Sellers

Homes are still selling in Ottawa, but pricing and positioning are becoming increasingly important.

With more properties competing for buyer attention and sales activity slowing, sellers should pay close attention to recent comparable sales, current competition, and how their property is presented to the market.

The good news is that prices have remained relatively stable despite the decline in sales. However, today’s conditions make it especially important to enter the market with a realistic pricing and marketing strategy.

Looking Ahead

As Ottawa moves into the fall market, the key question will be whether August’s slowdown was temporary or develops into a longer trend. OREB notes that one month alone does not establish a trend, but the decline in sales, increase in months of inventory, and lower sales-to-new-listings ratio are important indicators to watch.

For buyers, the current environment may provide opportunities through greater selection and less competition. For sellers, understanding local conditions and positioning a property correctly will continue to be important.

If you have questions about the Ottawa Real Estate market, or if you are considering Buying, Selling, or Investing in Ottawa, feel free to reach out anytime. I’m here to help.

Source: Ottawa Real Estate Board (OREB), August 2026 Market Report