Ottawa Real Estate Board Market Report - March 2026: Sales Dip Amid Rising Inventory

Ottawa Real Estate Board — March 2026

In March 2026, the Ottawa real estate market recorded 1,075 home sales, reflecting a decrease from previous months. The composite benchmark price stands at $617,700, a slight decline of 2.1% year-over-year.

Market Analysis

The Ottawa real estate market is currently experiencing a seller's condition, characterized by an increase in active listings and a moderate decline in sales. The total sales in March 2026 are 13.9% below the five-year average and 22.5% below the 10-year average for the month. The number of new listings has risen significantly, with 2,452 new residential properties hitting the market, marking a 7.5% increase from March 2025 and the highest number of new listings in March in five years. This influx of new listings has contributed to a rise in active listings, which total 3,578 units, up 10.3% from the same month last year, indicating a shift towards a more balanced market.

Property Type Analysis

In terms of property types, the benchmark price for detached homes is $698,400, while attached/townhouses are priced at $554,700, and apartments at $384,700. All categories have seen year-over-year price declines, with detached homes down 2.3%, townhouses down 3.2%, and apartments down 4.4%. This trend suggests that while the overall market is adjusting, the price reductions vary across different property types, reflecting differing levels of demand and supply dynamics.

Regional Highlights

Regionally, the Ottawa market shows signs of increased competition among sellers, with active listings significantly above both the five-year and ten-year averages. The months of inventory has increased to 3.3, up from 2.9 in March 2025, indicating that it would take over three months to sell the current inventory at the current sales pace. This increase in inventory may provide buyers with more choices, but it also suggests that sellers may need to be more strategic in their pricing to attract interest.

For Buyers

Prospective buyers are encouraged to take advantage of the increased inventory levels in the Ottawa market. With a wider selection of homes available, buyers should conduct thorough research and consider their options carefully. It is also advisable to work with a knowledgeable real estate agent to navigate the current market dynamics and identify properties that meet their needs.

For Sellers

Sellers should remain mindful of the current market conditions, as the increase in active listings means more competition. It is essential to price homes competitively and present them well to attract potential buyers. Working with a real estate professional can help sellers understand local market trends and develop effective marketing strategies to enhance their property's appeal.