Ottawa Real Estate Market Report - February 2026: Benchmark Price Declines 1.3% Year-Over-Year

Ottawa (MLS® HPI) — February 2026

In February 2026, Ottawa's composite benchmark price stands at $615,400, reflecting a 1.3% decrease from $623,500 in February 2025. The market remains balanced, indicating stable conditions for both buyers and sellers.

Market Analysis

The Ottawa real estate market in February 2026 shows a composite benchmark price increase from January's $606,700 to $615,400. Despite this uptick, the year-over-year decline suggests a slight cooling in market activity compared to the previous year. The balanced market conditions indicate that supply and demand are relatively equal, which can lead to stable pricing and less competition among buyers.

Property Type Analysis

When examining property types, the benchmark price for detached homes is $693,200, while attached/townhouses are priced at $560,700, and apartments at $385,500. The differences in benchmark prices reflect varying demand levels across these categories, with detached homes maintaining the highest value, indicative of their desirability in the current market.

Regional Highlights

Regionally, Ottawa continues to experience diverse trends across neighborhoods. Areas with new developments are attracting more buyers, while established neighborhoods maintain steady interest, contributing to the overall balanced market. The slight year-over-year price decline may encourage first-time buyers to enter the market, particularly in the more affordable apartment segment.

For Buyers

For buyers, February's balanced market conditions present an opportunity to negotiate favorable terms. With the benchmark price showing a slight decline year-over-year, prospective buyers may find it advantageous to explore options across various property types, especially in the attached and apartment categories.

For Sellers

Sellers should remain mindful of the current market dynamics. With a benchmark price decrease compared to the previous year, pricing strategies should be carefully considered. It is advisable for sellers to work with real estate professionals to ensure their properties are competitively priced to attract potential buyers while maximizing their return.