Ottawa's spring real estate market is officially underway, and 2026 is shaping up to be the most active selling season the capital has seen in four years. With the Bank of Canada's rate-cutting cycle having reduced borrowing costs, pent-up demand from sideline buyers re-entering the market, and inventory still below historical averages, the conditions favour sellers, but not as dramatically as in 2021.
What the Numbers Are Saying
Early March 2026 data from the Ottawa Real Estate Board (OREB) shows:
- Active listings: Approximately 2,800 homes (up 18% year-over-year, but well below the 5,000+ seen in pre-2020 normal markets)
- Sales in February 2026: Approximately 1,050 (up 22% from February 2025)
- Months of inventory: 2.8 months city-wide (sellers' territory is under 4 months)
- Average sale price: $672,000 for all residential (up 5.2% year-over-year)
These metrics collectively point to a seller-favouring market, though with meaningful differences by property type and neighbourhood.
Segment Breakdown
Detached homes: Tightest inventory, strongest demand. Well-priced detached homes in Ottawa's core neighbourhoods (Westboro, Glebe, Manor Park, Alta Vista) are seeing 2–4 competing offers. Suburban detached (Barrhaven, Kanata, Orleans) is active but less competitive.
Townhomes/semis: Strong demand driven by move-up buyers and investors. Consistent activity throughout Ottawa's suburbs.
Condos: The most supply. Ottawa's condo market has inventory from investor-landlords who acquired units during low rates and are now managing thin or negative cash flow. Condo buyers have more negotiating power in 2026.
What's Driving Ottawa's Spring Recovery
Bank of Canada rate cuts: Five rate reductions since mid-2024 have brought the overnight rate from 5.0% to 2.75%, improving affordability by approximately 15%–20% for the average Ottawa buyer.
Federal job market stability: Ottawa's government employment base provides recession-resistant purchasing power. Even amid federal spending reviews, core public service employment remains stable.
Population growth: Ottawa-Gatineau's population grew 2.3% in 2025, driven by immigration. New Canadians entering the ownership market (typically 3–5 years after arrival) are adding consistent buyer demand.
What Sellers Should Know
Spring 2026 is your moment. Ottawa sellers listing in March and April will face the largest active buyer pool of the year. Price competitively, prepare your home properly, and you'll likely sell within 3 weeks with strong results.
What Buyers Should Know
Act quickly on desirable properties, hesitation costs in Ottawa's spring market. Get your pre-approval done before you start seriously searching. Conditions (financing, inspection) remain acceptable in Ottawa's spring market but must be short-dated and clean.
Ottawa's spring 2026 market offers something the capital hasn't seen in several years: genuine optimism for both buyers and sellers.
