What Ottawa’s Real Estate Numbers Are Telling Us This Month

Jun 6

If you’ve been waiting for a dramatic shift in the Ottawa housing market — keep waiting.

Unlike some of the headlines coming out of Toronto or Vancouver, Ottawa’s story this summer is one of steady growth, patient buyers, and sellers who are learning to meet the market where it’s at.

So what are the numbers actually saying?

Let’s break it down.

Detached Homes: Fewer Sales, But No Signs of Panic

Detached home sales in Ottawa dropped by nearly 20% compared to this time last year — but prices didn’t follow.

The average detached home price climbed to $870,788, a 4.3% increase from May 2024. Homes are still selling in about 15 days, showing that when something is priced correctly, buyers are stepping up.

This segment is quieter — but stable. Think of it less like a slowdown and more like a rebalancing.

Townhomes: The Underrated Star of the Market

If one part of Ottawa’s market is picking up steam, it’s townhomes.

Sales were up 30.4% compared to last year, making this the most active segment right now. Prices edged up just 1%, landing at $569,352 — a sign that demand is strong but still reasonable.

With 1.8 months of inventory, townhomes are still in a seller’s market, but buyers have more breathing room than they did in the frenzy of past years.

Condos & Apartments: A Market in Transition

The condo market is where we’re seeing the most shift.

Sales dropped over 20%, and properties are sitting longer — about 27 days on average, up 5 days from last year. Yet interestingly, average condo prices still rose by 5.4%, hitting $492,359.

That means buyers aren’t gone — they’re just more cautious. With 4.0 months of inventory, this segment is moving closer to balance, giving buyers a chance to take their time and negotiate.

So What Does It All Mean for Ottawa?

Ottawa’s real estate market isn’t booming or crashing — and that’s actually a good thing.

We’re seeing slower sales in some areas, but prices remain steady or rising. Buyers are being careful, but they’re still buying. And sellers who adapt quickly — through pricing, presentation, or patience — are still seeing strong results.

For anyone navigating the market right now, strategy matters. The right move isn’t just about timing the market — it’s about understanding where the opportunity is.

Looking for a deeper dive into your neighbourhood or price point? Get in touch — we’re happy to help you figure out what today’s numbers mean for your next move..