08/11/2026
👀 Market Update👀
"Ottawa Home Sales Hold Steady as New Listings Ease in July"
Ottawa’s housing market stayed surprisingly balanced in July. Sales were almost identical to last year, and new listings dipped slightly—helping ease the flow of incoming supply after a busy spring.
Seasonal slowdown, but softer than usual:
Sales typically drop sharply from June to July, but this year’s decline was far smaller than the 10‑year norm. New listings followed a more typical summer pattern, improving the relationship between supply and demand.
Prices remain stable:
The average sale price dipped 1.6% year‑over‑year, while the median stayed flat. This tells us the change is more about what sold rather than a shift in overall pricing. The MLS® HPI benchmark was down just 0.5% from last year and slightly up from June—another sign of stability.
Inventory moderates:
Active listings are still high compared to recent years, but they’re trending downward. July’s sales‑to‑new‑listings ratio rose to 52.4%, and months of inventory increased only slightly—less than half the typical seasonal jump.
Different segments, different stories:
Single‑family homes: Steady demand, slight price growth.
Townhomes: Balanced absorption but prices still below last year.
Condos (especially downtown): Softest conditions, higher inventory and longer days on market.
Suburban strength continues:
Over 70% of July’s sales came from suburban areas, which showed firmer absorption and tighter balance than the downtown core. Rural markets varied more due to smaller sample sizes.
Looking ahead:
Economic signals have stabilized—modest GDP growth and steady interest rates. With new listings easing and inventory trending down, the key question for fall is whether stronger absorption continues once the summer slowdown passes.
