If you've been watching the Ottawa real estate market this summer, August brought a noticeable shift. Sales pulled back sharply, inventory climbed, and while prices stayed relatively steady, the overall picture points to a market heading into fall with more questions than answers.

Here's a breakdown of what happened, what it means, and what to watch for if you're thinking about buying or selling in Ottawa this fall.

The Headline: Sales Dropped Significantly

A total of 1,002 homes sold through the MLS® System in August, down 18.6% from August 2025 and 24.4% from July. For context, the typical July-to-August dip over the past decade has been under 6%. This year's slowdown was several times larger than normal seasonal patterns.

The August sales count tied 2022 for the lowest August total since 2016.

Year to date, 9,283 homes have sold in Ottawa, down 6.9% compared to the same period in 2025, with total dollar volume sitting at roughly $6.5 billion — a 7.2% year-over-year decline.

This wasn't confined to one segment of the market either. Single-family sales fell 16.3%, townhouse sales dropped 19.9%, and apartment sales declined 22.3%. Every major property type felt the pullback.

But Prices Held Their Ground

Here's the twist: despite the drop in sales, prices didn't follow suit.

• Average sale price: $688,253 (up 0.3% year-over-year, up 0.7% from July)

• Benchmark price (MLS® HPI): $637,700 (up 1.0% year-over-year, up 0.6% from July)

• Median price: $622,357 (down 1.2% year-over-year, down 2.0% from July)

As OREB President Tami Eades put it, steady pricing alongside a sales pullback tells us this isn't a simple story of the market moving uniformly in one direction. Buyers are seeing less competition, while sellers are facing a more challenging environment and may need to be thoughtful about pricing and positioning.

Inventory Is Growing — and That Matters

New listings totalled 2,119 in August, essentially flat year-over-year but down 16.2% from July (a normal seasonal pattern). Active listings reached 4,496, up 11.3% from a year ago — the highest August inventory level since 2016.

The more telling number is months of inventory, which jumped from 3.5 in July to 4.5 in August. Historically, this metric barely moves between July and August — the typical change over the past decade has been zero, and no prior year saw a jump larger than 0.4 months. A full one-month increase is a meaningful signal that homes are taking longer to sell relative to what's available.

Worth noting: this rise in inventory wasn't purely about supply piling up. OREB's review found that terminations, cancellations, and expired listings became more prominent through the summer relative to completed sales — suggesting some sellers may be pausing or reassessing their plans rather than pushing forward under current conditions.

How the Market Behaved by Segment

Single-family homes remained the most stable segment, with the benchmark price up 2.2% year-over-year and 4.0 months of inventory.

Townhouses showed more strain, with 4.1 months of inventory, active listings up 27.1% year-over-year, and a benchmark price down 4.0% — a segment worth watching closely.

Apartments continued to be the softest category, a pattern that has held through 2026 and the back half of 2025, with 6.3 months of inventory and a 43.0% sales-to-new-listings ratio. That said, active apartment listings declined from July and the benchmark price actually rose 1.9% month-over-month, so it's not a story of straightforward deterioration.

A Look Across Ottawa's Neighbourhoods

Ottawa's three suburban submarkets still accounted for over 70% of sales, but all posted year-over-year declines: Suburb West (-14.3%), Suburb East (-20.0%), and Suburb South (-25.1%).

• Ottawa Suburb West had the firmest conditions of the three, with 3.6 months of inventory.

• Ottawa Center and Ottawa Rural East saw softer conditions, with 7.0 and 6.5 months of inventory respectively.

• Ottawa Rural West was the sole bright spot, with sales up 22.6% — though its low transaction volume (76 sales) means that number should be read with some caution.

What's Driving This, and What Comes Next

The national backdrop is actually improving. Statistics Canada reported real GDP grew at an annualized 3.3% in the second quarter, and the Bank of Canada's July outlook described the economy as showing signs of improvement, even while flagging continued uncertainty.

Looking further ahead, CMHC's 2026 outlook expects Ottawa-area sales to stabilize, with slower demand growth and rising supply keeping a lid on price increases. At the national level, RBC Economics expects home resales and prices to decline overall in 2026 before a modest recovery begins in 2027.

The Bottom Line

One month doesn't establish a trend — but the size of August's sales decline, the drop in the sales-to-new-listings ratio, the jump in months of inventory, and the widening year-to-date shortfall are all signals worth watching as we move into fall.

The key question for Ottawa's market: will the properties that left without selling come back with new pricing strategies, or will more sellers step back from the market altogether? That answer will go a long way toward telling us whether August was a blip or the start of something more sustained.

Thinking about buying or selling in Ottawa this fall? Market conditions like these change the calculus for both sides — reach out and let's talk through what it means for your specific situation.

Source: Ottawa Real Estate Board (OREB), August 2026 Market Update

When it comes time to sell your home, you will likely be put in a situation where home updates, repairs, and upgrades are recommended in order to boost the value of your home for maximum returns! Now before tearing down a wall or throwing your money at everything it's important to understand not all home renovations are equal. Below you will find a list of the top 5 home renovations that have significant impact on your selling potential:

1. Improve energy efficiency

This one is often a surprise to people - when you think of home improvements, they are generally the physical changes you see with your eyes. The secret is that potential buyers are taking energy efficiency very seriously when making considerations on what to buy.  

Just to give an example, attic insulation projects return approximately 120% of their costs! Other energy-efficiency upgrades that are effective include updating HVAC, water heaters, and windows. If you do these changes early in the process (enough to get utility bills), your real estate agent can show potential buyers the difference between the monthly costs before and after the upgrades! 

2. Spruce up your curb appeal 

First impressions matter, and it starts the moment a potential buyer lays eyes on your home. These exterior improvements don't need to be radical either, there are many subtle touches that have huge impact. Some examples include power washing the home exterior, re-painting window frames and doors, and installing some potlights. If your property has abundant green space, you should consider landscaping services which beautify the lawn with mulch, shrubs, and planting seasonal colorful plants. If you have the means for it, adding new stone veneers, entry doors, and garage doors almost always recoup 100% of their cost.

3. Minor kitchen remodeling

The heart of the home; the kitchen. Buyers often report that the kitchen is their favourite room - and so it's easy to see how a gorgeous kitchen can entice even the most reserved buyers. In fact, if the kitchen is impressive enough, buyers may be more forgiving to other outdated spaces.

As the title suggests, I'm not recommending that you spend tens of thousands to improve the kitchen. I'm talking about the minor renovations that bring the most impact. Some examples include re-painting cabinets, installing new handles, installing stainless steel appliances, upgrading countertops, and putting up a new backsplash!

4. Bathroom remodeling

Next to the kitchen, buyers will zipline to bathrooms to develop their opinion of the home. Studies have shown that a minor bathroom remodel can provide a 102% return on investment - consider re-grouting tile and replacing the caulk around the shower, tub, and toilet. In some cases it may be best to replace the toilet - accomplshing both a modern look as well as energy efficiency (remember, energy-efficiency is a huge selling point).

5. A fresh coat of paint

A clean coat of paint is the facelift every seller can benefit from - we are talking 109% returns on investment here! New paint will lighten rooms and hide any defects. If your home has rooms with non-neutral paint colours, then painting over those spaces with neutral tones can have huge benefits! Ther buyer wants to enter the home and impose their personality within it, and areas with too much personality often work against your goal of selling effectively. 

Your satisfaction and happiness is something that is very important to me. I understand how hectic it is to sell a house and it can be difficult if it’s not handled properly. To help you through the entire process, I’ve put together five simple steps:

Step 1: Decide to Sell

When you sell, you want to get as much value as you can for your home. So you might want to consider the timing of the sale because it definitely has an effect on the value. You don’t want to sell when it’s a “buyer’s market,” when too many homes are for sale and there are not enough buyers. Seasonality is something to consider as well because typically more homes are sold in the spring rather than the winter. You can also increase the value by enhancing the appeal of your house.

There are various ways to do this and it all depends on the amount of monetary resources available. You can renovate your house by remodelling an area or just freshen up the walls with a new coat of paint. Even just keeping your front lawn tidy can make a big difference. Buyers love seeing green grass and flowers outside because it feels more warm and inviting to them. Home inspections are also something that you can do to prove the value of your home. Buyers will usually ask for a home inspection, so if you do it ahead of time it will definitely impress them. It also gives you a chance to prevent unpleasant surprises and make any major repairs. Now you’re ready for the for sale sign!

Step 2: Choose the right agent

There are thousands of real estate agents, so how do you chose one that’s right for you? You have to pick carefully. They will be acting as your representative and you will need someone to look out for your best interests. You will need someone that you can trust and someone who understands what you want. There are a few ways to look for your perfect Realtor: Jot down some names and numbers that you find on “For Sale” signs Ask friends and family for a recommendation Visit one of the local offices in your area They have to be a trained professional who knows your area inside out. A great agent is someone who offers you quality services to help you accomplish your goal.

Step 3: List your Home

Now that you’ve found the perfect real estate agent, they will list your home. First they will value your house and set a price. A report on market data will be complied to properly value your home based on the prices in your area. Once they’ve done that the agent will market your home through various media outlets and listing sites to create strong buyer interest. They can post on Multiple Listing Service (MLS), social media, blogs, and websites. There will be open house appointments as well to showcase the potential of your home to various individuals. At this point, Realtors may also suggest to stage the home to help these individuals imagine themselves living in your house.

Step 4: Receive an Offer

Not all offers are equal and that’s where your real estate agent comes in. They will help you get to know the terms and conditions regarding the price that the buyer wants to pay, financing conditions, or other things like inclusions and exclusions that the buyer wants to make. Not only is it about the price of the home, but you have to carefully look at the other details included in the sale. Appliances, chandeliers, or even minor renovations can also be part of the deal. Shorter or longer closing dates can also be specified by the buyer. If there is something in the offer that doesn’t satisfy you, counter offers or negotiations can also be presented to help get you what you want.

Step 5: Close the Sale

There will be closing costs associated with the sale that need to be paid either by or on the closing date. It can include mortgage application fees, inspections, and legal fees. But once that’s taken care of, you can pass your old keys to the new owners. Congrats! You’ve officially sold your house!