Ottawa home prices increased 8.3% in 2024, adding more than $51,000 to the average value of a home in a single year. Heading into 2026, buyers and sellers across the National Capital Region are asking the same question: is the momentum still there, and what does it mean for their move?
The Ottawa real estate market has consistently surprised observers who expect a slowdown. Through rate increases, economic uncertainty, and significant inventory shifts, Ottawa has maintained upward price pressure year after year. According to data from the Ottawa Real Estate Board (OREB), the average residential sale price climbed from $612,714 in January 2024 to $663,781 in January 2025. That kind of appreciation, sustained through one of the most challenging rate environments in Canadian history, tells you something about the strength of Ottawa's structural demand.
We work with buyers and sellers across Ottawa's neighbourhoods every day, and what we see on the ground lines up with what the data shows: Ottawa's fundamentals remain intact. What has changed heading into 2026 is the balance of power between buyers and sellers, and understanding that shift is what will determine whether this year works in your favour.
Where Ottawa Home Prices Stand Heading Into 2026
Ottawa residential prices rose 8.3% year over year from January 2024 to January 2025, according to OREB data. That figure represents a $51,067 increase in average value in a single year, at a time when many Canadian markets were flat or declining.
- Total residential sales: 15,021 (12,102 freehold, 2,919 condos)
- December 2024 average freehold price: $747,000
- December 2024 average condo price: $427,000
- December 2024 active listings: 1,982
- December 2024 average days on market: 43
The freehold segment drove most of the appreciation. Freehold prices peaked in April 2024 at an average of $749,406 and held relatively firm through year-end, closing at $747,000 in December. The condo market showed more pressure from rising inventory, with average prices softening from a May 2024 high of $446,127 back to $427,000 by December.
Both segments entered 2025 with days on market above 45 – meaningfully higher than the 29-31 DOM recorded during the spring 2024 peak. That extended timeline reflects more choice for buyers, not a distressed market for sellers.
Why Ottawa Inventory Rose in 2025 (And What It Means for 2026)
Ottawa's active listings climbed through 2024, peaking in the summer months at over 3,000 freehold units before normalizing by year-end. Understanding why inventory rose matters as much as the numbers themselves.
Four factors drove the supply increase
Rate-triggered listing activity. Homeowners who held through the 2022-2024 correction began listing as buyer activity recovered on the back of Bank of Canada rate cuts. More buyers in the market encouraged sellers who had been waiting on the sidelines.
Mortgage renewal pressure. A significant wave of mortgages originated in 2020-2021 at historically low rates came up for renewal at substantially higher rates. Some owners chose to sell rather than absorb the payment increase.
New construction completions. Multi-unit projects initiated in 2021 and 2022 began reaching completion, adding supply to both the rental and ownership markets across Ottawa's suburban communities.
Investor exits. At current financing costs, many Ottawa investment properties generate negative cash flow. Some investors chose to exit, adding additional resale supply across multiple price ranges.
The result is a more balanced market heading into 2026. Active listings at 1,982 in December 2024 represent a healthy buffer of choice for buyers without the kind of oversupply that would pressure prices downward. In our experience, this is the most functional version of the Ottawa market we have seen since 2019 – enough competition to keep sellers realistic, and enough inventory to give buyers meaningful options.
What Should Ottawa Buyers Do in 2026?
2026 offers better buying conditions than most of the past five years for Ottawa buyers. Conditional offers, inspection conditions, and negotiating room are accessible again across most price ranges. Buyers who were repeatedly outbid in 2021 and 2022 have genuine tools available to them now.
That said, the Ottawa market is not uniform. Well-priced, turnkey properties in established neighbourhoods – Barrhaven, Kanata, Westboro, Riverside South – still generate real competition. The "balanced market" label is accurate at the aggregate level, but individual properties in high-demand pockets can still attract multiple offers.
The structural case for buying in Ottawa remains strong heading into 2026. Federal government employment provides stable, predictable housing demand that most Canadian cities do not have. Ottawa's population is growing, new supply continues to face cost headwinds, and sustained appreciation over the past decade suggests the city's housing demand is structural, not cyclical.
Buyers who have been waiting for Ottawa prices to fall have, in most cases, waited too long. Ottawa prices in January 2025 were 8.3% higher than January 2024. The cost of waiting is measurable and real. The best time to buy in Ottawa is when you are financially ready and the right property is available – not when you think the market has bottomed.
What Should Ottawa Sellers Do in 2026?
Sellers who price correctly and present well are still transacting. The inventory rise of 2024-2025 has not stalled Ottawa's market – it has raised the bar for what a competitive listing looks like.
The era of listing anything in any condition and fielding multiple offers by Monday is over for most of the market. What we see consistently today is a market that rewards preparation. Sellers who invest in decluttering, minor repairs, professional photography, and accurate pricing are achieving strong outcomes. Sellers who overprice or underprepare are sitting – sometimes for 60-90 days – and accumulating market stigma that forces price reductions.
Realistic expectations on timeline: plan for 30-60 days in most segments outside of the spring peak window. Strategic timing still matters – Ottawa's spring market (March through May) consistently produces the strongest buyer activity and the best conditions for sellers.
For the 2026 selling season, we encourage sellers to engage earlier than they think necessary. Preparation takes longer now that buyers have choices and expectations have risen accordingly.
The Campbell-Maric Group's 2026 Ottawa Market Forecast
Price appreciation: We expect modest appreciation in the 3-6% range for 2026. Ottawa's structural demand drivers – federal employment stability, population growth, development cost inflation – continue to support prices. A significant correction remains unlikely absent a major economic disruption.
Transaction volume: We expect volume to recover from 2023-2024 lows as buyers who have been waiting re-enter the market. The combination of Bank of Canada rate reductions and improved inventory has materially improved buyer confidence heading into the new year.
Market balance: Ottawa will continue to trend toward a balanced market through 2026. This is healthy. It is better for buyers, manageable for sellers, and far more sustainable than the extreme conditions of 2021-2022.
The primary risk factor: Ottawa's federal workforce is the backbone of housing demand in the National Capital Region. Any significant, sustained reduction in federal public service employment would affect Ottawa's market in a way it would not affect Toronto or Vancouver. Ongoing uncertainty around federal government operations and Canada-U.S. trade relations is the variable we are watching most closely in 2026. We will update this forecast as the picture clarifies.
Frequently Asked Questions About the Ottawa Real Estate Market in 2026
Q: Will Ottawa home prices rise in 2026?
A: Based on current OREB data and Ottawa's structural demand drivers, modest price appreciation in the 3-6% range is the most likely outcome for 2026. Ottawa's federal employment base, population growth, and persistent housing demand support continued price growth. A significant correction is unlikely absent a major disruption to federal employment or the broader Canadian economy.
Q: Is 2026 a good time to buy a house in Ottawa?
A: For buyers who are financially ready, 2026 offers the most favourable buying conditions in several years. Conditional offers are being accepted, negotiating room exists across most price ranges, and inventory is meaningfully higher than the 2021-2022 lows. Waiting for further price declines has historically cost Ottawa buyers more than they saved. Connect with our team to discuss your specific situation.
Q: Should I sell my Ottawa home in 2026?
A: Yes, with the right preparation and pricing strategy. Ottawa sellers who price accurately and present their homes well are still achieving strong results. The market rewards preparation more than it did in 2021-2022, and strategic spring timing remains Ottawa's strongest selling window. Accurate comparable sales data is essential before setting your price.
Q: Why did Ottawa real estate inventory rise in 2024 and 2025?
A: Four factors drove inventory higher: rate-triggered listing activity as the Bank of Canada cut rates and buyers returned; mortgage renewal pressure on homeowners who locked in at 2020-2021 lows; completion of multi-unit new construction projects; and investor exits from cash-flow-negative properties. This inventory normalization is a sign of a healthy, functioning market.
Q: How does Ottawa's market compare to the rest of Ontario in 2026?
A: Ottawa outperformed most Ontario markets through 2024, recording 8.3% year-over-year price appreciation while many Greater Toronto Area markets remained flat. Ottawa's federal employment base and more affordable entry price points give it structural advantages. Ottawa's average freehold price of approximately $747,000 at year-end 2024 remains well below GTA benchmarks, making it an accessible market for buyers priced out of southern Ontario.
Q: What Ottawa neighbourhoods are selling fastest right now?
A: Well-priced, turnkey properties in established Ottawa communities including Barrhaven, Kanata, Westboro, Riverside South, and Stittsville continue to see the strongest buyer activity. High-demand neighbourhoods with strong school catchments and transit access still produce competitive offer situations. Extended days on market are concentrated in overpriced listings and properties requiring significant work.
The Ottawa real estate market in 2026 is a market of informed participants. Buyers have tools they haven't had in years. Sellers have a market that still rewards those who get the fundamentals right. The question isn't whether Ottawa is a good market – it consistently has been. The question is whether you're approaching it with the right strategy.
We work with buyers and sellers across the National Capital Region, and we would be glad to give you a personalized read on what this market means for your specific situation. Reach out to connect with our team.
