Ottawa Real Estate Market Update: February 2026 | Home Prices, Inventory & Trends

Ottawa Real Estate Market Update – February 2026

The February 2026 housing market in Ottawa shows a gradual shift toward balance after several years of tight competition. With inventory on the rise and prices remaining relatively stable, buyers now enjoy more options. First-time buyers, move-up buyers, and sellers alike can benefit from understanding the latest trends this month.

Table of Contents

• Ottawa Real Estate Market Update – February 2026
• Ottawa Housing Market Snapshot: February 2026
  • Home Sales Activity by Property Type
    • Single-Family Homes
    • Townhomes
    • Apartments
• What You Need to Know
  • Ottawa Home Prices
  • Inventory & Months of Supply
  • Days on Market & Sale-to-List Ratio
  • Key Market Trends – February 2026
  • For Buyers
  • For Sellers
• FAQs: Frequently Asked Questions About the Ottawa Real Estate Market in January 2026
  • Is the Ottawa market slowing?
  • Are prices rising or falling?
  • Is Ottawa a buyer’s or seller’s market?
  • How long do homes take to sell?
  • Is now a good time to buy?

Ottawa Housing Market Snapshot: February 2026

In February 2026, Ottawa’s housing market continued its gradual shift toward balance after several years of intense competition. A total of 780 homes sold, which is down 6.8% compared to February 2025, indicating slightly softer activity but still within a normal seasonal range. The average sale price dipped slightly to $662,773 (-1.0% YoY), while the median price fell to $615,450 (-3.1% YoY). These small declines are largely influenced by the mix of homes sold, with a higher proportion of townhomes and apartments compared to detached homes.

Meanwhile, the benchmark price, which tracks the value of a typical home, increased 1.4% month-over-month to $615,400, though it remains 1.3% below last year. This suggests that overall values are stable, even if the sales mix has shifted. New listings totaled 1,582 (-7.8% YoY), reflecting moderate fresh supply entering the market, while active listings climbed to 2,928 (+11.1% YoY), giving buyers more choice and negotiating power than in recent years.

With 3.8 months of inventory, Ottawa is moving closer to a balanced market. The median days on market rose slightly to 24 days, showing that homes are taking a little longer to sell than in peak years. At the same time, the sale-to-list price ratio remains strong at 97.9%, meaning most homes are still selling near their asking price.

In practice, this means buyers have more options and less pressure to act immediately, while sellers need to price accurately and present their homes well to attract competitive offers. Overall, the February data indicates a market that is stabilizing, with steady prices, increasing inventory, and opportunities for both buyers and sellers to make informed decisions.

Home Sales Activity by Property Type

In February 2026, Ottawa’s property market showed distinct trends across different home types.

Overall, these numbers highlight how each property type is behaving differently this month: townhomes are clearly the hot segment, detached homes remain steady, and apartments are providing opportunities for strategic buyers. Buyers may find value in townhomes or apartments depending on their priorities, while sellers of detached homes should focus on accurate pricing and presentation to stay competitive.

What You Need to Know

Ottawa Home Prices

• Average price: $662,773 (-1.0% YoY)
• Benchmark price: $615,400 (-1.3% YoY)

While the average sale price for Ottawa homes declined slightly by 1.0%, this figure is influenced heavily by the mix of properties sold. On the other hand, the benchmark price, which tracks a “typical” home in the market, increased by 1.4% month-over-month, signalling that underlying values remain stable despite shifts in sales mix. In practice, this means buyers and sellers should consider both metrics: the average price shows the overall market activity, while the benchmark price provides a more reliable snapshot of true market trends for individual property types.

Inventory & Months of Supply

• Active listings: 2,928 (+11.1% YoY)
• Months of inventory: 3.8 (+0.7 YoY)

Buyers now have more choice and negotiation room than in recent years. With nearly 3,000 homes on the market, it’s easier to compare options and take your time before making an offer. This increase in inventory also means that sellers need to be more strategic with pricing and presentation, as buyers can afford to be selective. Overall, Ottawa is moving toward a balanced market, where neither buyers nor sellers dominate, creating opportunities for thoughtful decision-making on both sides.

Days on Market & Sale-to-List Ratio

• Median DOM: 24 days (+5 YoY)
• Sale-to-list ratio: 97.9%

Although homes are taking slightly longer to sell than in peak years, well-priced properties are still moving quickly, which highlights the importance of proper pricing and presentation. Buyers can take a little more time to consider their options, but competition remains for homes priced appropriately. Sellers, meanwhile, should focus on staging, marketing, and realistic pricing to attract serious offers promptly. In practice, this means that even small adjustments in pricing or presentation can make a significant difference in how quickly a home sells and how close it comes to its asking price.

Key Market Trends – February 2026

Inventory continues to rise, giving buyers more choice and reducing bidding war pressure. Meanwhile, prices are stabilizing, as the benchmark price shows the underlying value remains steady. Additionally, townhomes remain popular, with affordability and extra space driving demand

1. Inventory continues to rise – more choice for buyers, less bidding war pressure.
2. Prices are stabilizing – benchmark price shows underlying value is steady.
3. Townhomes remain popular – affordability and space drive demand.
4. Apartments are slowing – higher inventory allows for negotiation opportunities.

For Buyers

• More homes available, giving you greater selection and flexibility.
• Less urgency to act immediately, which can help with careful decision-making.
• Townhomes offer good value, especially for buyers prioritizing affordability and space.
• Apartment buyers may have leverage due to higher inventory and slower sales.

For Sellers

• Pricing strategy is crucial, well-priced homes still sell quickly.
• Presentation and staging matter more than ever, as buyers are comparing options closely.
• Detached homes remain stable, but competition is increasing.
• Expect slightly longer days on market, so plan timing and marketing carefully.

FAQs: Frequently Asked Questions About the Ottawa Real Estate Market in January 2026

Is the Ottawa market slowing?

Slightly, but it’s moving toward balanced conditions, not crashing.

Are prices rising or falling?

Mostly stable; benchmark prices show small month-over-month gains, average price dips reflect sales mix.

Is Ottawa a buyer’s or seller’s market?

Balanced; inventory and months of supply indicate neither side has a strong advantage.

How long do homes take to sell?

Median 24 days, varies by property type and location.

Is now a good time to buy?

Yes, more listings and negotiating power create opportunities for buyers.