More listings give Ottawa buyers greater choice this fall

The Ottawa real estate market shifted further in buyers' favour in September as a significant increase in new listings gave purchasers more choice, while home sales remained relatively steady.

According to the latest statistics from the Ottawa Real Estate Board (OREB), 1,010 homes sold in September, down 6.6% from the same month last year. However, sales actually increased slightly from August—an unusual result for this time of year, when activity typically declines as summer comes to an end.

The bigger story this month isn't necessarily sales. It's inventory.

More homes are competing for buyers

There were 2,927 new listings in September, an increase of 38.1% from August. While an increase in listings is normal at the beginning of the fall market, this year's jump was considerably larger than usual. Over the previous 10 years, the typical August-to-September increase was just 12.9%.

Active listings reached 4,813 homes, up 7.9% from September 2025 and the second-highest September level since 2016.

That additional inventory is changing the balance between buyers and sellers.

Ottawa's sales-to-new-listings ratio fell to 34.5%, meaning roughly one home sold for every three new listings that came onto the market. Months of inventory increased from 4.5 in August to 4.8 months in September.

Both are notable: September had the lowest sales-to-new-listings ratio and the highest months of inventory for any September over the past decade.

What is happening with Ottawa home prices?

Despite the increase in inventory, Ottawa home prices have remained relatively stable.

The average residential sale price was $685,640, down 1.0% from September 2025 and nearly unchanged from August. The median sale price was $625,000, down just 0.8% year-over-year.

There are, however, some signs of softness beneath those headline numbers.

The MLS® Home Price Index benchmark price was $623,500, down 0.3% from a year ago and 2.2% from August. OREB notes that the HPI can provide a clearer picture of changes in home values because it is less affected by the particular mix of properties that happen to sell in a given month.

One month doesn't establish a trend, but it is something we'll be watching as we move through the fall market.

Not every part of the market is the same

One of the most important things to remember about real estate statistics is that there isn't really one Ottawa market.

Single-family homes had 4.4 months of inventory in September, while townhouses had 4.0 months. Apartments were considerably softer, with 7.3 months of inventory and a benchmark price of $380,800, down 6.1% from a year earlier.

Location matters too. Ottawa's suburban markets accounted for almost three-quarters of September sales. Ottawa Suburb West had 3.7 months of inventory, compared with 6.8 months in Ottawa Centre and higher inventory levels in several rural areas.

That's why citywide averages are useful for understanding the overall direction of the market, but they don't necessarily tell you what is happening with a particular home or neighbourhood.

What does this mean for Ottawa buyers?

For buyers, the current market offers something that has often been in short supply in recent years: choice and time.

More inventory means buyers may be able to compare properties, conduct appropriate due diligence and negotiate rather than feeling pressured to make an immediate decision.

That doesn't mean every property is negotiable or that desirable homes won't attract competition. Real estate remains highly local, and well-priced homes in sought-after neighbourhoods can behave very differently from the overall market.

What does this mean for Ottawa sellers?

For sellers, the change in inventory means pricing and presentation matter more.

Buyers have more homes to choose from, so an overpriced property can quickly lose attention to competing listings. Sellers may also need to allow more time for the right buyer to come along and be prepared to respond to market feedback.

This isn't a market in which homes aren't selling—they are. But with substantially more inventory competing for roughly the same number of buyers, sellers need to be realistic about how their property compares with the alternatives available. OREB similarly identifies the recent shift as primarily one of substantially more supply competing for a similar number of sales.

The Bottom Line

Ottawa isn't experiencing a dramatic change in prices, but the balance of the market has shifted toward buyers.

Prices remain relatively stable, while increased inventory is giving buyers more selection and greater negotiating power. For sellers, accurate pricing, strong presentation and patience are becoming increasingly important.

And because conditions can vary significantly by neighbourhood and property type, the citywide numbers are only the starting point.

Thinking of buying or selling in Ottawa? A TRU REALTOR® can help you understand what these market conditions mean for your particular neighbourhood, property or real estate plans.