Ottawa Real Estate Market Update — January 2026
Whether you're casually watching the market or actively planning your next move, January gave us a lot to talk about. Here's a friendly breakdown of what the numbers are telling us about Ottawa real estate right now.
The Big Picture
Ottawa kicked off 2026 with a market that's showing clear signs of increased activity. Active listings climbed to 2,673 — up 22.7% year-over-year — which means buyers are walking into more options than they had this time last year. New listings came in at 1,522 (up 8.8%), and 610 homes sold during the month, though that figure was down 5.6% compared to January 2025.
More inventory, slightly fewer sales — that tells us the balance is shifting in a way that gives buyers a bit more breathing room.
What Are Homes Selling For?
Average Sale Price: $641,436 — down 4.5% year-over-year
Median Sale Price: $615,000 — essentially holding steady, down just 0.9%
The gap between average and median is worth noting: a handful of higher-priced sales can pull the average up, so the median often gives a truer picture of what most buyers are actually paying. The fact that the median is holding close to flat suggests the core of the market remains stable, even as some softness appears at the higher end.
How Fast Are Homes Moving?
The median days on market came in at 49 — up 16.7% from last year. Homes are sitting a little longer before finding their buyer, which again reflects that increased inventory giving shoppers more time to be thoughtful rather than reactive.
For sellers, this is a gentle reminder that pricing strategy matters more than ever. A well-priced, well-presented home is still moving.
Supply & Demand: The Inventory Story
Months of inventory hit 4.4 — up a notable 29.4%. Traditionally, a balanced market sits around 4–6 months, so Ottawa is right in that zone. This isn't a buyer's market or a seller's market — it's a balanced market, which is actually a healthy place to be.
The list-to-sale price ratio sits at 97.4%, down slightly by 0.6%. In practical terms, buyers are on average negotiating about 2.6% off the asking price. Not dramatic, but a little more wiggle room than we saw during the competitive peaks of recent years.
A Note on Mortgage Rates
The current 25-year mortgage rate is 3.79% (based on the lowest available 3-year fixed rate). For context, this is meaningfully lower than where rates were a couple of years ago, and it continues to support purchasing power for buyers who are ready to move.
So What Does This All Mean?
January's numbers paint a picture of a market finding its equilibrium. There's more to choose from, prices are stable-to-softening modestly, and the urgency that defined 2021–2023 has given way to a more measured pace. For buyers, that's good news. For sellers, the opportunity is still very much there — it just rewards preparation and realistic expectations.
Data sourced from the Ottawa Real Estate Board MLS HPI, year-over-year comparison 2025 vs. 2026. Mortgage rate based on lowest 3-year fixed rate available.
Ready to make a move? Reach out directly at Diane@metrocitypg.com.
