Ottawa's condo market has entered a new phase in 2026, with benchmark prices for one-bedroom units averaging $435,000 downtown and $390,000 in suburban nodes like Barrhaven and Kanata. After a 12% price decline between 2022 and 2024, the market has found a floor and is showing early signs of recovery driven by renewed immigration targets and a federal workforce returning to hybrid office schedules.
Where Prices Stand
According to the Ottawa Real Estate Board, condo apartment sales in the first quarter of 2026 are up 9% year-over-year. Two-bedroom units in Centretown average $575,000, while comparable units in Vanier and Hintonburg trade at a 15–20% discount. The Glebe and Westboro remain premium pockets where two-bedrooms can exceed $700,000.
Best Buildings by Value
The Claridge Icon on Preston Street remains one of the city's most recognizable high-rises and continues to hold resale value well. Units in the 150 Crémazie building in Hintonburg have appreciated steadily since completion. For newer stock, the Zibi community on the Ottawa River offers modern finishes and river views that appeal to younger buyers priced out of freehold.
What's Driving Demand
Federal government employees, who make up roughly 22% of Ottawa's workforce, are returning to offices two to three days per week, pushing demand for walkable downtown units. International students at the University of Ottawa and Carleton University are also fuelling investor purchases in the $350,000–$450,000 range.
Inventory Outlook
Approximately 3,200 condo units are under construction across Ottawa as of early 2026, with the majority concentrated in Lebreton Flats, Greystone Village, and the Preston–Carling corridor. These completions will add supply pressure in late 2026 and 2027, which analysts expect will keep price growth modest at 3–5% annually.
Advice for Buyers
Buyers should pay close attention to building age and reserve fund health. Many Ottawa towers built in the 2005–2015 era are due for envelope repairs and elevator upgrades, which can lead to special assessments. Request the reserve fund study before making an offer. Pre-construction buyers should factor in assignment clauses and closing cost adjustments, which have caught many Ottawa purchasers off guard in recent years.
For 2026, condos remain the most accessible entry point into Ottawa homeownership, and the right building in the right neighbourhood still offers solid long-term value.
