Ottawa Market Update · October 2026
October was a bit of a mixed bag for Ottawa real estate. Sales picked up a little from September and fewer homes came on the market, which gave sellers some breathing room. But sales are still down from last year, prices slipped again, and the Bank of Canada just raised rates for the first time in three years. Here’s a quick look at the numbers.
Ottawa OREB Data
October 2026 at a Glance
$679K
Avg. Sale Price
↓ 4.5% vs October 2025
1,048
Homes Sold
↓ 10.7% vs October 2025
4.4
Months of Inventory
↓ from 4.8 in September
25.5
Median Days on Market
97.5% of asking on average
Source: Ottawa Real Estate Board (OREB), October 2026 residential MLS® data
Activity
Sales
1,048 homes sold in October. That’s up 3.8% from September but down 10.7% from last October, and the third-lowest October we’ve seen since 2016. Townhouses held up best. Condos had a rough month.
| Property Type | Sales | vs. Oct 2025 |
|---|---|---|
| Single-family | 558 | ↓ 12.5% |
| Townhouse | 350 | ↓ 3.0% |
| Apartment / condo | 115 | ↓ 23.3% |
Values
Prices
The average sale price was $678,512, down 4.5% from a year ago. The benchmark price, which tracks a typical home, came in at $616,900, down 1.3% from last year. Prices are still dropping, just more slowly than they were in September.
| Property Type | Benchmark Price | vs. Oct 2025 |
|---|---|---|
| Single-family | $699,200 | ↓ 0.8% |
| Townhouse | $539,800 | ↓ 4.3% |
| Apartment / condo | $377,500 | ↓ 5.3% |
| All homes | $616,900 | ↓ 1.3% |
Supply
Inventory
This was the good news. New listings dropped almost 19% from September, so months of inventory fell from 4.8 to 4.4. The median home sold in about 25 days, and homes went for 97.5% of asking on average.
What that means: on average, homes are selling about 2.5% under asking. Buyers still have room to negotiate.
Condos are still the soft spot at 7.4 months of inventory. The suburbs were the strongest, especially the east end, while Ottawa Centre sat at 6.6 months.
| Area | Months of Inventory |
|---|---|
| Ottawa Suburb East | 3.5 |
| Ottawa Suburb West | 3.7 |
| Ottawa Suburb South | 4.1 |
| Ottawa Rural South | 4.1 |
| Ottawa Rural West | 4.4 |
| Ottawa Centre | 6.6 |
| Ottawa Rural East | 7.3 |
Looking Ahead
What’s Next
The Bank of Canada raised its rate to 2.50% on October 28. For variable-rate borrowers, that’s about $15 more a month per $100,000 of mortgage. Not huge, but it won’t help confidence.
The bigger worry for Ottawa is jobs. We’ve lost roughly 15,000 local jobs since March 2025, with public service cuts a big part of that, so this week’s federal budget is one to watch.
Andrew’s Take
My Take
I think the slow market sticks around through the winter. If you’re buying, you’ve got choice and leverage right now. If you’re selling, price it right from day one, because homes that start too high tend to sit.
Thinking about a move, or just curious what your home is worth? Let’s talk.
Source: Ottawa Real Estate Board, October 2026 MLS® data. Andrew Sneddon, REALTOR®, The Twin Team, Royal LePage Team Realty.
