Ottawa Real Estate Market Update: A Calmer, More Balanced Start to 2026

Feb 6

January often sets the tone for the year ahead, and this year’s opening chapter feels noticeably different from what we’ve seen over the past few years.

Instead of rapid swings or headline-driven urgency, Ottawa’s real estate market entered 2026 in a more balanced, steady position. Buyers have more choice. Sellers are adjusting expectations. And prices, while softer in some areas, are moving gradually rather than abruptly.

For many people, this feels closer to a “normal” market.

So… what’s actually happening?

In simple terms, the market is behaving more like it did before the pandemic years, when pricing, supply, and demand were more closely aligned.

There are more homes available than we’ve seen in recent winters. That means buyers are no longer forced to make same-day decisions or compete against a long line of offers just to secure a showing. At the same time, homes that are priced appropriately are still selling, which tells us demand hasn’t disappeared. It has simply become more selective.

Think of it this way: the market is quieter, but not weak.

Buyers: More Choice, More Leverage, Less Pressure

If you’re house-hunting right now, January brought something buyers haven’t had much of lately: options.

With higher inventory compared to recent years, buyers are gaining practical advantages, including:

More time to compare similar homes
More opportunity to negotiate price or terms
Less pressure to move forward if a property doesn’t fully meet expectations

This doesn’t mean prices are falling across the board. It does mean buyers are no longer expected to stretch beyond their comfort zone just to “win.”

One encouraging early signal is that buyer interest is beginning to pick up. This often shows up first as more showings and inquiries before it translates into completed sales. Historically, that kind of activity tends to build quietly before the spring market gains momentum.

Sellers: Pricing Matters More Than Ever

For sellers, this market is rewarding realism and preparation.

Homes that are priced in line with current conditions and presented well are still attracting attention and selling. Homes that aim for last year’s pricing are taking longer, and buyers are noticing when a property sits on the market.

This doesn’t mean it’s a bad time to sell. It does mean that strategy matters more than emotion. The market is willing to meet sellers halfway, but it expects pricing to reflect today’s conditions, not yesterday’s momentum.

A Closer Look by Property Type

Not all parts of the market are behaving the same way, which is especially important if you’re buying or selling.

Detached Homes: The Steadiest Segment

Detached homes continue to show the most stability in Ottawa. Prices are slightly lower than last year, but the changes have been gradual rather than sharp.

Demand remains consistent, and this category continues to hold its value better than others. In practical terms, detached homes are still Ottawa’s most resilient option.

Townhomes: Active, But More Competitive

Townhomes saw strong listing activity in January, giving buyers more options than they had a year ago. As a result, pricing has adjusted modestly, and buyers are taking the time to compare properties carefully.

This is a segment where correct pricing matters a great deal. Buyers are actively weighing similar homes against each other, and small pricing differences can have a big impact on how quickly a property sells.

Condos: Signs of Stabilization

Condos remain the most price-sensitive segment of Ottawa’s market, but January brought an important shift.

Sales improved compared to the previous month, and condos are starting to sell at a quicker pace than they were late last year. While prices are still adjusting, this combination suggests the market may be reaching a more stable point rather than continuing to soften.

For first-time buyers and investors, this is an area worth watching closely, as increased choice and pricing flexibility can create strong opportunities.

So, Where Does That Leave Us?

Overall, Ottawa’s real estate market is offering something many people have been missing: breathing room.

Different property types are moving at different speeds, which means thoughtful strategy matters more than reacting to headlines. Detached homes remain steady. Townhomes are competitive. Condos are adjusting, with early signs of stabilization.

Real estate decisions don’t need to be rushed to be good ones. Right now, Ottawa is giving buyers and sellers the space to make informed, confident choices.