Part 4: The Ottawa Housing Market
Ottawa’s 2026 Market Conditions
Ottawa remained a balanced market in June 2026.
There were 1,518 residential sales during the month. The sales-to-new-listings ratio was approximately 48.8%, while total inventory was around 3.3 months. Single-family homes had tighter inventory than apartments, which gave condominium buyers relatively more selection and negotiatin
What this means for buyers
- More choice than during the extreme seller’s markets of earlier years
- Less pressure to make an unconditional offer immediately
- Greater opportunity to compare properties
- Potential negotiating room on stale or overpriced listings
- Continued competition for exceptional, properly priced homes
- More leverage in portions of the apartment market
What this means for sellers
- Pricing correctly from the beginning is critical
- Buyers are comparing more listings
- Preparation and presentation matter
- Properties with location, condition and realistic pricing can still perform well
- Overpriced homes may sit while better-positioned listings sell
A balanced market does not mean every neighbourhood or property type behaves the same way. A renovated family home on a desirable street can still receive rapid interest while a dated condo or poorly priced property takes substantially longer.
Ottawa Home Prices vs. Toronto
The Greater Toronto Area’s June 2026 average selling price was $1,058,658, compared with Ottawa’s $733,648 average.
That represents a difference of approximately $325,000, although the mix of properties sold in each market affects the av
A Toronto buyer relocating with significant equity may be able to:
- Purchase a larger detached home
- Move from a condo into a townhome or detached property
- Obtain a larger lot
- Reduce the size of the mortgage
- Retain funds for renovations or retirement
- Choose a newer home
- Consider a rural or waterfront lifestyle
However, Ottawa’s most prestigious central neighbourhoods and luxury properties can still command prices well above $1 million.
What $500,000, $700,000 and $1 Million Buy in Ottawa
What approximately $500,000 may buy
Depending on location and condition:
- A one- or two-bedroom condominium
- A larger condo in an older building
- A stacked townhome
- An older row unit in selected outer communities
- A smaller freehold property requiring updates
- A rural or village property with compromises
- Occasionally, a lower-priced townhome when inventory or condition creates an opportunity
Because Ottawa’s townhouse benchmark was approximately $550,700 in June 2026, buyers at $500,000 should expect trade-offs involving location, condition, fees or propert
What approximately $700,000 may buy
This budget is close to Ottawa’s single-family benchmark and can provide:
- A suburban detached home in selected east, south or west communities
- A newer or upgraded townhome
- A semi-detached home
- An older bungalow in a mature neighbourhood
- A larger central condominium
- A village home outside the urban core
Detached-home selection will be broader in Orléans, parts of Nepean, Barrhaven, Riverside South, Findlay Creek and outer communities than in the Glebe, Westboro or Old Ottawa South.
What approximately $1 million may buy
At this level, buyers may find:
- A larger or extensively upgraded suburban detached home
- An executive bungalow
- A premium corner or ravine property
- A newer infill home in selected central neighbourhoods
- An older character home in an established urban community
- A luxury condominium
- A rural home with a larger lot
- A waterfront or acreage property with location or condition trade-offs
One million dollars provides strong purchasing power in Ottawa, but it does not guarantee a fully renovated detached home in every prestigious central neighbourhood.
Renting vs. Buying in Ottawa
Renting may make more sense when:
- You expect to remain in Ottawa for only a short period
- Your job location is not yet confirmed
- You want to test several neighbourhoods
- You need time to sell a property elsewhere
- You do not yet have sufficient savings for a down payment and closing costs
- Flexibility is more important than long-term stability
Buying may make more sense when:
- You expect to remain in Ottawa for several years
- Your employment and financing are stable
- You understand your preferred neighbourhoods
- You have sufficient funds for the down payment, closing costs and emergencies
- You want control over renovations and pets
- Long-term housing stability matters to you
Questions to answer before buying
- How long are you likely to remain in Ottawa?
- Will your employment location or work-from-home arrangement change?
- How much cash will remain after closing?
- Can you comfortably manage property taxes, utilities and repairs?
- Would a condominium fee materially affect affordability?
- Are you buying the right location—or simply the largest house?
- How would your budget handle a mortgage renewal at a higher rate?
There is no universal answer. A rent-versus-buy analysis should reflect your actual timeframe, cash flow, mortgage options and relocation uncertainty.