Market Overview
Ottawa’s real estate market showed clear signs of early spring momentum in March 2026, with sales activity improving after a slower winter period. While transactions remain slightly below typical March levels, the pace of recovery is accelerating—especially in the single-family home segment.
Inventory levels continue to rise across Ottawa; however, stronger sales are helping absorb new supply. This has led to gradually tightening market conditions, reflected in declining months of inventory and more balanced absorption across property types.
Home prices are also showing early signs of strengthening. The MLS® Home Price Index (HPI) recorded a second consecutive month of gains across most segments, indicating that underlying home values in Ottawa are beginning to firm as the spring market takes shape. Overall, Ottawa remains in balanced market territory, with momentum building as buyer demand returns.
Ottawa Residential Market Activity – March 2026
In March 2026, a total of 1,075 residential properties sold in Ottawa, representing a 4.7% decrease compared to March 2025. This is an improvement from February’s 6.8% decline and signals strengthening demand heading into the spring market.
While sales are still slightly below recent March levels, they are trending closer to historical norms:
- 2025: 1,128 sales
- 2024: 1,158 sales
- 2023: 1,072 sales
Total dollar volume reached $744.5 million in March, down 3.8% year-over-year. Year-to-date, 2,474 homes have sold in Ottawa, a 5.7% decrease compared to 2025, with dollar volume at $1.66 billion (-6.5%).
Despite these declines, March showed stronger momentum than earlier in the year. Single-family homes led this improvement, with 562 sales—unchanged year-over-year and significantly higher than February’s 358 sales.
This increase in activity helped absorb inventory. Months of inventory decreased to 3.3 in March, down from 3.8 in February, indicating that while buyers still have options, the market is becoming more competitive.
Ottawa Home Prices and Market Balance
Home prices in Ottawa remained relatively stable in March 2026:
- Average sale price: $692,584 (+0.9% year-over-year)
- Median sale price: $642,000 (-0.5% year-over-year)
Year-to-date figures show:
- Average price: $670,360 (-0.9%)
- Median price: $625,000 (-1.1%)
These figures represent an improvement compared to February and suggest that pricing conditions are stabilizing.
While average and median prices show modest changes, the MLS® Home Price Index (HPI) provides a clearer picture of market trends. Benchmark prices increased month-over-month in the composite, single-family, and apartment segments, while townhomes remained stable. This indicates that real estate values in Ottawa are beginning to firm despite mixed headline price data.
Ottawa Housing Supply and Inventory Levels
Housing supply in Ottawa continued to build in March:
- New listings: 2,452 (+7.5%)
- Active listings: 3,578 (+10.3%)
The sales-to-new-listings ratio sits at 43.8%, keeping Ottawa in balanced market conditions.
Months of inventory by property type:
- Single-family homes: 3.0 months
- Townhomes: 2.8 months
- Apartments/condos: 5.5 months
This indicates tighter conditions in the detached and townhome segments, while the condo market continues to experience higher supply and more pricing pressure.
Outlook for the Ottawa Real Estate Market
March 2026 data suggests that Ottawa’s spring real estate market is gaining traction. Improving sales activity, firmer pricing signals, and better absorption of inventory all point toward a market that is gradually strengthening.
Although activity has not fully returned to long-term averages, the pace of recovery is increasing. Rising benchmark prices and declining months of inventory indicate tightening conditions within an overall balanced market.
According to the Canadian Real Estate Association (CREA) 2026 outlook, housing demand is expected to strengthen as borrowing conditions improve. Ottawa’s recent performance is beginning to align with this forecast, with early signs of a typical spring market emerging.
If current trends continue, Ottawa’s housing market is likely to see steady, sustainable growth in the months ahead—without a sharp shift toward either buyers’ or sellers’ market conditions.
Recent federal and provincial housing announcements may also play a role in increasing activity, marking one of the most coordinated housing policy efforts in recent years.
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