January often sets the tone for the year ahead in Ottawa real estate. After the holidays, buyers return with clearer intentions, sellers test the waters, and the market reveals whether momentum is building or pausing. This January, the data and on-the-ground activity point to a market that’s becoming more balanced, giving both buyers and sellers space to make thoughtful decisions rather than rushed ones.
Below is a breakdown of what’s happening, what’s changing, and what it means depending on where you’re starting from.
Ottawa Real Estate Market Snapshot – January 2026
January shows a market that’s slowing modestly from last year but remains steady overall. Residential sales were down slightly, while new and active listings grew noticeably, giving buyers more options and a bit more negotiating leverage.
Homes are spending a little longer on the market, and pricing has softened modestly. These shifts don’t indicate a dramatic change, but they do reflect a market moving toward balance, with conditions varying across detached homes, townhouses, and apartments.
Key takeaways:
- Inventory growth is creating more choice for buyers
- Price changes are moderate, not abrupt
- Strategy and preparation matter more than speed or urgency
Residential Market Overview: Balance Is Emerging
The biggest story this month is supply growth. More listings are coming to market, and they’re staying available longer. That doesn’t automatically mean prices are falling sharply. Ottawa tends to adjust more gradually, but it does change the dynamics of negotiation.
With 4.4 months of inventory, Ottawa sits in a balanced market overall. Buyers have room to compare options and include reasonable conditions, while sellers need to be more deliberate about pricing and presentation.
Importantly, this balance looks different depending on the property type.
Single-Family Homes: Cooling in Sales, Stable Pricing
Detached homes saw a drop in sales compared to last year, reflecting a slower start to 2026 after a highly active 2025. Even though fewer homes sold, new listings were low while active listings grew noticeably, giving buyers more options.
Prices have held relatively steady, with the median unchanged year-over-year and the average seeing a modest dip. Homes are spending a bit more time on the market, indicating that buyers are being selective and sellers may need to fine-tune pricing or presentation to attract interest.
In short: Detached homes remain desirable, but the market is showing early signs of balance, rewarding well-prepared sellers and deliberate buyers.
Townhouses: Strong Sales Amid Rising Supply
Townhouses continue to perform well, with sales climbing over last year. This segment is clearly benefiting from strong demand from first-time buyers, downsizers, and those seeking affordability without sacrificing space.
However, new and active listings surged, resulting in more choice for buyers and a slight increase in days on market. Prices show mixed movement: average prices rose modestly, while the median saw a small decline.
In short: Townhouses are holding buyer interest, but the rapid growth in inventory signals that pricing and presentation will be key differentiators in the coming months.
Apartments: Softening Across the Board
The apartment segment is seeing the most significant slowdown. Sales have declined year-over-year, while new listings fell slightly, resulting in more units remaining on the market. With months of inventory rising above six, this is currently the most buyer-friendly segment.
Prices have softened noticeably, both median and average, reflecting higher sensitivity to interest rates and overall market conditions. Apartments are also staying on the market longer, giving buyers room to negotiate but requiring sellers to carefully consider pricing and marketing strategies.
In short: Apartments offer opportunity for buyers right now, but sellers may need patience and strategic pricing to attract offers.
Price Trends & Inventory: Reading the Signals Correctly
January’s data shows modest price adjustments across all segments, with no dramatic swings. Detached homes remain relatively stable, townhouses are mixed depending on location and condition, and apartments have softened the most. The average home price of $641,436 reflects this gradual adjustment rather than a sharp decline.
At the same time, inventory growth is noticeable, giving buyers more choice and creating a slightly more balanced market. While homes are taking a bit longer to sell, these changes suggest the market is normalizing, not entering distress.
In short: Prices are adjusting gently, inventory is improving buyer options, and strategy continues to be the key for both buyers and sellers.
What Buyers Should Know Right Now
For buyers, January’s market conditions are encouraging but nuanced. More inventory means greater choice and slightly more negotiating room, particularly in townhouses and condos. Homes are staying on the market a little longer, giving buyers time to compare options and make thoughtful decisions.
That said, the most desirable properties are still moving. Well-located, well-priced homes are attracting attention. Prepared buyers with clear budgets and priorities are in the strongest position to succeed.
Key considerations for buyers:
- Focus on property quality, location, and long-term fit, not just price
- Be strategic and deliberate; avoid rushing or overbidding
- Take advantage of conditions like inspections to protect your purchase
What Sellers Should Know Right Now
For sellers, strategy and preparation are critical in a market that’s moving toward balance. Pricing should reflect current conditions, not last year’s peak, and presentation can have a bigger impact than speed of listing. Overpricing can lead to longer market times, especially in segments with rising inventory.
Detached homes and townhouses remain in demand, but buyers are selective. Condos are seeing more competition, so realistic pricing and strong marketing are essential.
Key considerations for sellers:
- Preparation and presentation can make the difference
- The first few weeks on market remain the most important
- Flexibility on timing or conditions can attract stronger offers
What This Means Moving Forward
January 2026 points to a market that’s normalizing and steadying. Buyers have more choice, sellers have more competition, and pricing adjustments are modest rather than dramatic.
For homeowners, this is a reminder that real estate is a long-term asset, and short-term fluctuations are normal. For those planning a move this year, today’s conditions reward preparation, patience, and informed decision-making.
Ultimately, the “right” move depends on personal timing, lifestyle, and goals, not headlines. Thoughtful guidance remains the key to success in this balanced market.
