Ottawa Real Estate Board Market Report - May 2026: Sales Down 1.6% Year-Over-Year Amid Elevated Inventory

Ottawa Real Estate Board — May 2026

In May 2026, the Ottawa real estate market recorded a composite benchmark price of $557,500, with total sales reaching 3,351 units. This represents a 1.6% decline in sales compared to May 2025, while the average sale price stands at $694,539.

Market Analysis

The Ottawa housing market remains in a seller's condition, characterized by a sales-to-new-listings ratio (SNLR) of 48.2% and 3.5 months of inventory. Although total sales have increased from April's 3,336, they are still trailing behind last year's figures, reflecting a broader trend of slower activity in 2026. The elevated level of active listings at 4,917 indicates that buyers have a variety of options, which may pressure sellers to adopt strategic pricing to attract offers.

Property Type Analysis

Property performance varies significantly across different types. The benchmark price for apartments is $385,500, but specific sales data for detached and attached/townhouse properties is not available this month. Overall, the market shows signs of stability, though the average prices for townhomes and apartments have experienced modest declines compared to last year, while single-family homes have shown resilience with relatively stable pricing.

Regional Highlights

Regionally, the Ottawa market reflects a mix of conditions, with some neighborhoods experiencing stronger demand than others. The overall economic landscape, influenced by recent GDP data and employment trends, continues to shape buyer sentiment and market dynamics. As the summer approaches, the ability of the market to absorb new listings will be crucial in determining future pricing trends.

For Buyers

Prospective buyers are encouraged to act strategically in the current market environment. With a variety of active listings available, buyers should take the time to evaluate properties carefully and consider negotiating on price, especially in segments where inventory is high. Engaging with a knowledgeable real estate agent can provide insights into market conditions and help identify opportunities.

For Sellers

Sellers should remain mindful of the current market dynamics and the importance of strategic pricing. Given the elevated inventory levels, it is essential to price homes competitively to attract potential buyers. Working with a real estate professional can help sellers understand local market trends and set a price that reflects current demand while maximizing their return.