At TRU Realty, our foundation is built on truth, honesty, and professionalism. We take immense pride in aligning our brokerage with professionals who embody these core values and bring unparalleled expertise to our clients. It is with great enthusiasm and pride that I announce the newest addition to our team: Vivek (Vic) Bawa.

Vic is not your average real estate professional. He joins TRU Realty backed by over 30 years of elite experience in civil engineering and project management, alongside a robust background running his own successful construction business. As a licensed Broker, Vic possesses an intricate, top-tier understanding of property mechanics, structural integrity, and project execution. For clients navigating the residential market, this background is a massive competitive advantage. Whether you are looking for a structurally sound forever home or analyzing the bones of a potential investment property, Vic’s sharp analytical eye ensures you see far beyond the surface cosmetics.

Beyond his technical mastery, Vic is a highly skilled negotiator who is deeply committed to ensuring his clients maximize the value of their property assets. Known for being enthusiastic, exceptionally well-organized, and relentlessly hardworking, he approaches every residential transaction with the precise execution of an engineer and the dedicated care of a trusted advisor. 

By blending his deep roots in construction with his brokerage expertise, Vic provides a level of service that perfectly mirrors TRU Realty’s high standards. We are thrilled to support him as he helps our clients achieve their real estate goals with absolute transparency and confidence.

Put a Broker with 30+ years of engineering and construction insight in your corner. Contact Vivek (Vic) Bawa today to discuss your next move!

Ottawa’s housing market remained balanced in May, with activity improving from April but continuing to trail last year’s spring pace. A total of 1,616 homes sold in May, up from 1,336 in April, reflecting the typical lift as the spring market progressed. However, sales were down 10.6% compared to May 2025. These slower sales are becoming a theme thus far in 2026, even as the market remains active.

The sales-to-new-listings ratio rose to 48.2%, while months of inventory eased to 3.0, indicating demand kept a better pace with new supply than it did in April. Active listings remained elevated at 4,917, keeping pressure on sellers to price strategically.

Average prices across market segments were mixed, though overall pricing remained relatively stable. Single-family home pricing was flat year over year, while average prices for townhomes and apartments saw modest declines. Overall pricing was less than one percentage point below last year's level, indicating continued market stability. The average residential sale price was $721,270 in May, up from $712,184 in April, and relatively flat at 0.9% below May 2025. The median sale price followed a similar pattern, rising to $660,000 from $650,000 in April while remaining 1.6% lower than last May.

Performance varied by property type. Single-family homes remained resilient, with the average price essentially unchanged year over year and the median price up 1.3%. Townhomes and apartment-style properties continued to face softer conditions, with both average and median prices below last year’s levels.

The MLS® Home Price Index (HPI) composite benchmark price increased 0.9% from April but remained 0.6% below May 2025, reflecting continued variation across market segments.

Economic uncertainty continues to influence market activity. Recent GDP data has fueled discussion about Canada’s economic momentum, while the Bank of Canada has continued to take a cautious approach to interest rates. CMHC data reported lower employment levels in the first quarter compared to a year earlier, while CREA’s labour-market charts point to stronger full-time job growth and an unemployment rate that has eased from its early-2026 peak.

Ottawa’s market remains balanced, but the data also points to clear challenges. Sales continue to lag last year’s pace, inventory is elevated, and softer segments are weighing on the broader price picture. The strength of the summer market will depend on whether demand continues to absorb supply at a steady pace.

“The Ottawa market is not moving in one direction across all property types,” says the OREB President. “May brought the seasonal increase in activity we typically expect to see in Ottawa’s housing market, but sales continue to trail last year’s pace. While economic uncertainty continues to influence consumer confidence, the key question moving into the summer market will be whether demand continues to keep pace with supply. The market remains active, but inventory levels, employment trends, and buyer confidence will all play an important role in shaping the months ahead.” 

Residential Market Activity

In May, 1,616 homes were sold through the MLS® System in Ottawa, a 10.6% decrease compared to May 2025, but a clear increase from 1,336 sales in April. The month-over-month gain reflects the typical spring lift in activity, even as demand continues to trail last year’s stronger spring pace.

Sales activity was down in May compared to 2025, though the extent of that decline varied by property type. Single-family homes recorded 904 sales in May, down 8.6% from a year earlier. Townhouse sales totalled 481, down 14.3%, while apartment-style properties recorded 203 sales, down 12.1%. The segment-level results point to a market where demand remains present, but activity is trailing 2025 across all segments.

Supply remained elevated. New listings totalled 3,351 in May, down 2.2% from May 2025, while active listings rose to 4,917 units, up 12.2% year over year and above April's 4,535 listings. While new listings did not surge this month, the elevated level of active inventory shows that supply has continued to accumulate.  The sales-to-new-listings ratio improved to 48.2%, up from 41.0% in April and consistent with balanced market conditions.

Year to date, 5,453 homes have sold in Ottawa, down 6.3% from the same period in 2025. New listings total 12,284, up 5.4%, while average active listings are up 14.8%. The year-to-date sales-to-new-listings ratio of 44.4% and 3.5 months of inventory point to a market that remains balanced overall, but one where sellers face more competition than they did last spring.

Prices and Market Balance

Price trends remained stable in May, but they were not uniform across property types. The average residential sale price in May was $721,270, down 0.9% from May 2025 but up from $712,184 in April. The median price was $660,000, down 1.6% year over year and up from $650,000 in April. Year-to-date, the average price is $694,539, down 0.6%, while the median price is $639,000, down 1.7%.

Single-family homes remained the most resilient segment, with an HPI benchmark price of $723,800, up 0.9% from April and 0.3% year over year. The average single-family sale price was essentially unchanged from last May, while the median price rose 1.3% to $800,000.

The townhome segment softened in May data compared to recent months. Earlier in the year, townhome activity was holding up comparatively well, but May reversed that pattern. Townhouse sales fell 14.3% year over year, pulling year-to-date sales 2.8% below 2025. Pricing has not fallen sharply month over month, with the townhouse HPI benchmark at $557,500, down 0.4% from April and 3.2% from last May. The larger signal is softer absorption, as active listings remain elevated and months of inventory sit well above last year’s level.

Apartment-style properties continued to show the most pronounced pressure. The apartment benchmark price was $385,500, up 1.5% from April but down 6.7% from May 2025. Average and median apartment prices were also lower year over year. This weakness is not unique to Ottawa; Toronto’s condo sector has also been affected by weaker investor demand and higher carrying costs. Ottawa’s apartment segment, however, should still be understood within local conditions: the data points to a slower, more price-sensitive segment, not a broad market correction. 

Months of Inventory

• Single Family: 2. 7

• Townhome: 2.7

• Apartment: 4.8

Ottawa is not experiencing broad-based price growth, but neither is the market showing a uniform decline in price. Single-family homes continue to provide support, townhomes are adjusting, and apartment-style properties remain the softest part of the market. For sellers, accurate pricing remains critical; for buyers, the data points to a market where patience and property-specific analysis matter more than broad assumptions about Ottawa as a whole.

Regional Market Comparison 

Ottawa’s regional picture was uneven in May, reinforcing that the citywide market is not moving as one single market. The central market and Ottawa Rural West were the only subareas to record year-over-year sales gains, while the suburban areas continued to drive most of the overall activity.

Ottawa Centre had the clearest positive activity signal, with sales up 13.5% from May 2025 and prices also higher year over year. This suggests stronger engagement in the central market after a softer start to the year, though the area’s varied property mix means monthly price movements should be interpreted with some caution.

The suburban markets remained the core of Ottawa’s sales activity, but the story differed by area. Ottawa Suburb West recorded the highest sales total and the lowest months of inventory, pointing to relatively stronger absorption. However, prices were lower than last May, so its strength was more about activity than price growth. Ottawa Suburb South remained steady but softer than last year, while Ottawa Suburb East saw a sharper decline in sales even as prices moved higher.

Rural markets were more variable, which is typical given smaller transaction volumes. Ottawa Rural West was the relative bright spot, with sales slightly above last May, while Ottawa Rural East and Rural South both recorded weaker activity. Rural East also had the highest inventory level among the subareas, pointing to slower absorption.

Overall, the regional data points to a market shaped by local differences rather than one broad trend. Central Ottawa improved in May, the west remained active, and rural conditions were more uneven. For buyers and sellers, neighbourhood, property type, and local competition continue to matter more than the citywide averages alone.

Looking Ahead

As Ottawa moves into the summer market, the most useful signals will come less from broad forecasts and more from whether demand continues to absorb supply at a steady pace. REALTORS® should be watching the sales-to-new-listings ratio, months of inventory by property type, median days on market, sale-to-list ratios, and whether benchmark prices continue to diverge between single-family, townhouse, and apartment-style properties.

CMHC’s latest construction data adds important context. Housing starts were lower year over year across all dwelling types in April, but the pipeline is shifting in composition. Rental projects accounted for 61% of starts by market type, while apartments made up most new starts and the large majority of units currently under construction. That changing mix will matter most for apartment-style resale pricing, investor demand, and rental-market competition as projects move toward completion.

Completed and unabsorbed inventory should also be monitored closely. CMHC’s April data shows this inventory has risen, with the largest concentration in row and single-detached homes. For REALTORS®, absorption of newly completed units will be an important companion indicator to resale inventory, especially in segments where pricing has already become more sensitive.

Taken together, the indicators to watch are clear: resale inventory, new listings, absorption of completed new homes, the apartment-heavy construction pipeline, and local employment conditions. These will offer a better read on Ottawa’s next phase than any single month of sales or pricing data alone.

Courtesy of the Ottawa Real Estate Board

At TRU Realty, our foundation is built on truth, honesty, and unparalleled professionalism. That is why it gives us immense pride to announce the newest addition to our brokerage family: Xing Gao.

In an industry that demands both sharp strategic insight and genuine empathy, Xing stands out as a true professional. She joins TRU Realty with a stellar academic and professional pedigree, holding an MBA from Carleton University alongside valuable international real estate experience. This unique combination allows her to bring a sophisticated, global perspective and a highly strategic mindset to the Ottawa market.

Whether her clients are purchasing their very first home, upgrading to a luxury property, navigating complex investments, or seeking seamless property management services, Xing guides them with absolute clarity and confidence. Furthermore, being fully fluent in both English and Mandarin, Xing bridges cultural and linguistic gaps, ensuring that clear communication and honest advice are at the forefront of every single transaction.

Beyond her sharp business acumen, Xing is deeply grounded. When she isn't busy negotiating the best deals for her clients, you can find her exploring Ottawa’s beautiful nature trails, travelling, or sharing laughs and creating memories with her little one. It is this balance of professional drive and warm, relatable humanity that makes her such a perfect fit for the TRU Realty culture.

The addition of Xing Gao to our team reinforces our commitment to attracting top-tier talent to better serve our community. We know that her strategic expertise and dedication to building lasting relationships will be an incredible asset to our clients.

Please join us in giving Xing a warm TRU Realty welcome!

Connect with Xing today to achieve your real estate goals:

• Website: xinggao.ca

• LinkedIn: linkedin.com/in/xingottawa

• Instagram: @xinginottawa

• Facebook: facebook.com/xingottawa

At TRU Realty, our mission has always been to build a brokerage rooted in truth, honesty, and unwavering professionalism. Today, I am immensely proud to announce that we are further strengthening that mission by welcoming Elena Dembinsky to our professional family.

Elena joins us with a proven track record of exceptional client service in the Ottawa and surrounding area. Fluent in both English and Russian, Elena brings a unique, multicultural perspective to our team, allowing her to serve Ottawa’s diverse community with clarity and care. Whether she is guiding a first-time homebuyer through the complexities of the market or helping a family find their dream home, Elena’s approach is defined by her "client-first" philosophy and her passion for making the real estate process as smooth and positive as possible.

What truly sets Elena apart is her dedication to being a trusted advisor. She understands that a home is more than just a transaction; it is a major life milestone. Her commitment to providing honest guidance and representing her clients’ best interests makes her a perfect fit for the TRU Realty brand.

When she isn't busy finding the perfect property for her clients, Elena is an active member of the Ottawa community, often sharing her love for the city’s vibrant local culture and beautiful landscapes. Her enthusiasm for the National Capital Region is infectious, and it fuels her drive to help others call this city "home."

We are confident that Elena’s expertise and integrity will be a tremendous asset to our clients. Please join us in giving Elena Dembinsky a warm welcome to TRU Realty!

Ottawa’s housing market continued its seasonal rebound in April, with activity picking up month-over-month, following a slower winter. Inventory levels, which have been rising since late summer 2025, remain elevated but stable. The spring increase in new listings has added to this supply, giving buyers more choice and flexibility.

The broader economic backdrop remains mixed. The Canadian Real Estate Association (CREA) recently revised its 2026 forecast downward, citing a weaker-than-expected start to the year and renewed inflation pressures, partly driven by rising energy costs. As a result, expectations for both sales and price growth have been tempered, with only modest gains now anticipated nationally.

Interest rate expectations have shifted. Earlier concerns that inflation could lead to rate increases contributed to more cautious buyer behaviour over the winter. With rates now holding steady, that immediate risk has eased. While borrowing costs remain above pandemic-era lows, they are more in line with long-term norms. A more stable rate environment may help reduce hesitation and support a gradual improvement in activity as buyer confidence strengthens.

“We’re seeing the market find its footing after a slower winter,” said the OREB President. “April’s activity reflects a market that is gradually regaining momentum. Buyers are beginning to re-engage, and more listings are helping to keep conditions balanced across most segments.”

Residential Market Activity

In April, 1,336 homes were sold, down 1.9% year over year, but up from 1,075 in March.

New listings rose sharply to 3,258 units (+19.3%), pushing active listings to 4,535 units (+17.2%).

With listings continuing to outpace sales, the sales-to-new-listings ratio came in at 41.0%, consistent with balanced market conditions. Homes are taking slightly longer to sell, with median days on market increasing to 21 days, up from 18 days in April 2025.

Year to date, 3,839 homes have been sold, down 4.4% compared to the same period in 2025. While activity remains below last year’s levels, recent trends suggest that the 2026 market may be gradually strengthening. 

New listings total 8,933 units (+8.5%), while active listings have increased 16.0%.

Prices and Market Balance

Home prices held steady in April. The average sale price was $712,184 (+0.8% year over year), and the median price was $650,000, unchanged from April 2025. Year-to-date, the average price stands at $683,303, and the median price is $630,000, both showing little change compared to the same period last year. 

The MLS® Home Price Index provides additional context, indicating that benchmark prices have begun to stabilize following earlier declines. Most segments recorded modest month-over-month gains, apart from condo-apartments, which continue to lag. This aligns with the broader trend of price stabilization observed over recent months.

Market balance continues to be shaped primarily by supply. Active listings reached 4,535 units in April, up 17.2% year over year, while new listings also posted strong gains.

With a sales-to-new-listings ratio of 41.0% and 3.4 months of inventory, Ottawa remains in balanced territory. Compared to recent years, conditions are less competitive, with buyers benefiting from increased choice and sellers facing more competition.

Months of Inventory

• Single Family: 3.1

• Townhome: 3.0

• Apartment: 4.9

Regional Market Comparison 

Market conditions across Ottawa’s subareas continue to vary.

Ottawa Centre appears relatively stable from a pricing standpoint, but activity has eased. Sales are lower compared to recent years, while inventory has increased, resulting in slower absorption. This is largely due to the area’s higher concentration of condo-apartment units, which has been the softest segment of Ottawa’s market for several months.

Suburban markets across the east, south, and west remain generally balanced. Sales-to-new-listings ratios and inventory levels are within typical historical ranges, although sales activity has moderated in some areas and supply has trended higher. Among these, the western suburbs stand out as the strongest segment, with more consistent sales activity and slightly tighter inventory conditions.

Rural markets continue to operate at a slower pace, with higher inventory levels and longer selling times compared to suburban areas. This results in more buyer-friendly conditions, along with greater variability in pricing data due to lower transaction totals.

Overall, while Ottawa’s market remains balanced at a high level, local conditions vary. Suburban areas are the most stable, with the west currently leading in activity. Central areas are seeing more moderate demand, while rural markets continue to experience slower absorption, contributing to a more varied regional landscape. Those interested in exploring these dynamics further can access the non-HPI report in the monthly stats package here.

Looking Ahead

Ottawa’s spring market continues to build momentum, with activity improving from the slower pace seen earlier this year. While sales have yet to fully offset the winter slowdown, recent gains suggest the market is beginning to regain ground as the season progresses.

Despite ongoing economic uncertainty, Ottawa continues to demonstrate relative stability. Prices have remained in a narrow range, and demand, while measured, continues to support balanced conditions rather than any sharp shift in either direction.

Inventory will remain a key factor to watch. Supply levels have been elevated for several months and continue to build through the spring, giving buyers more choice and increasing competition among sellers. If this trend persists, however, higher inventory could begin to place downward pressure on pricing and influence seller expectations in the months ahead.

Courtesy of the Ottawa Real Estate Board

Ottawa’s housing market showed clearer signs of early spring momentum in March, with sales activity strengthening after a prolonged, slower winter market. While transactions remain below typical March levels, the pace of improvement has accelerated, particularly in the single-family segment.

Inventory continues to rise, but stronger sales are keeping pace with new supply. This is leading to a gradual tightening in market conditions, reflected in declining months of inventory and more consistent absorption across all segments.

Pricing trends also suggest a market that is beginning to firm. The MLS® Home Price Index recorded a second consecutive month of gains across most property types, indicating strengthening underlying values as the spring market takes shape. Overall, Ottawa remains in balanced territory, with momentum building as demand re-engages.

“March’s activity is a clear sign that Ottawa’s market doesn’t move in dramatic shifts,” said the President of the Ottawa Real Estate Board (OREB). “What we’re seeing is a measured, steady return to activity. Inventory is up, sales are improving, and pricing is firming without overheating. We expect a more active and stable market in the months ahead.”

Residential Market Activity

In March, 1,075 residential properties sold in Ottawa, down 4.7% year over year. This marks an improvement from February’s 6.8% decline and signals strengthening demand as the spring market takes hold. While sales remain slightly below recent March levels, they are now within range of prior years: 

• 2025: 1,128 

• 2024: 1,158 

• 2023: 1,072

Total dollar volume of sales reached $744.5 million in March, down 3.8% year over year. Year-to-date, 2474 homes have sold, a 5.7% decline from 2025, while dollar volume at $1.66 billion (-6.5%). Despite this, March showed stronger momentum than earlier in the year, driven in part by single-family homes, which recorded 562 sales, unchanged year-over-year and well above February’s 358.

This increase in activity helped absorb supply. Months of inventory declined to 3.3 in March from 3.8 in February, indicating that while buyers still have choice, sales are keeping a better pace with new listings. 

 Prices and Market Balance

Home prices in Ottawa remained relatively stable in March. The average residential sale price was $692,584, up 0.9% from March 2025, while the median price was $642,000, down 0.5% year-over-year.

Year to date:

• Average price: $670,360 (-0.9%) 

• Median price: $625,000 (-1.1%)

These figures represent an improvement compared to February.

While headline prices show modest movement, the MLS® Home Price Index points to firmer underlying trends. Benchmark prices rose month over month in the composite, single-family, and apartment segments, while townhomes remained stable. Because the HPI adjusts for the mix of homes sold, it provides a clearer view of true price movement and suggests values are beginning to firm. 

Supply continued to build:

• New listings: 2,452 (+7.5%) 

• Active listings: 3,578 (+10.3%) 

Months of Inventory

• Single Family: 3.0

• Townhome: 2.8

• Apartment: 5.5

This indicates tighter conditions in detached and townhome segments, while apartments continue to face higher supply and more price pressure.

Looking Ahead

March data suggests Ottawa’s spring market is taking shape, with improving sales, firmer pricing signals, and more effective absorption of inventory. While activity has not fully returned to long-term averages, the pace of recovery is strengthening.

Rising benchmark prices and declining months of inventory point to gradually tightening conditions within an overall balanced environment. 

CREA’s 2026 outlook anticipates strengthening demand as borrowing conditions ease. Ottawa's recent performance is beginning to align with that trajectory, with early signs of a typical spring pickup now emerging. If current trends continue, the market is likely to see steady momentum in the months ahead, without a sharp shift in balance.

Recent federal and provincial announcements represent one of the most significant aligned housing policy efforts in recent years, and will likely spur activity in Ottawa’s housing market.

At TRU Realty, we have always believed that the future of real estate is built on three unbreakable pillars: Truth, Honesty, and Professionalism. Today, we are very proud to announce that we are strengthening those pillars with the addition of one of Ottawa’s most energetic and dedicated young talents, Yasas Rajapakse, and his formidable team, including Rahul Verma and Eesha Dham.

Yasas joins us with a proven track record of success and a reputation as a "go-getter" who doesn't just list homes, he delivers results. What impressed us most about Yasas and his team is their unwavering commitment to transparency. In an industry that moves as fast as ours, Yasas maintains a "client-first" philosophy, ensuring that whether you are a first-time homebuyer or a seasoned investor expanding a portfolio, you receive straightforward, expert advice every step of the way.

The addition of the Vantage team represents a significant win for our clients. By combining their youthful energy and modern marketing savvy with the established integrity of the TRU Realty brand, we are offering a real estate experience that is as innovative as it is reliable.

We are thrilled to have this powerhouse team under our roof. Their passion for the Ottawa community and their relentless drive to exceed expectations make them the perfect fit for the TRU Realty family.

Looking to make your next move? Connect with Yasas and his team today to experience a higher standard of real estate service!

At TRU Realty, our name is our promise. We define ourselves through truth, honesty, and an uncompromising level of professionalism. Today, I am immensely pleased and proud to announce that Yusuf Dundar has joined our brokerage, bringing a unique and formidable skill set to our Ottawa team.

Yusuf is not your average real estate representative. With a distinguished previous career as an Electrical Engineer and years of experience in the IT industry, he brings a level of technical precision and analytical rigour to the real estate process that is truly rare. Having spent several successful years honing his craft at Sutton Group, Yusuf has chosen TRU Realty as the platform to take his client service to the next level.

"Yusuf embodies the 'TRU' spirit," says the Broker of Record. "His transition from engineering to real estate speaks to his passion for people, while his technical background ensures that his clients' interests are protected with mathematical accuracy and tireless integrity."

A long-time resident of Kanata, Yusuf understands the local market from the perspective of a neighbour, a father, and a professional. Whether he is navigating complex contracts or helping a family find their dream home, his focus remains the same: outstanding service built on a foundation of hard work.

Please join us in welcoming Yusuf Dundar to the TRU Realty family!

TRU Realty is Thrilled to Welcome Rahul Verma to the Team! At TRU Realty, our foundation is built on three unbreakable pillars: Truth, Honesty, and Professionalism. Today, we are immensely proud to announce that we are further strengthening that foundation by welcoming Rahul Verma to our brokerage.

Rahul joins us not just as an agent but as a proven leader in the real estate industry. Having successfully navigated the complexities of the market as a team leader, Rahul brings a wealth of experience in residential sales and a track record of numerous successful transactions. His transition to TRU Realty stems from a shared belief in the value we provide—a commitment to putting the client’s needs first through transparent and ethical service.

“We are always looking for top-tier talent that reflects our brokerage’s dedication to integrity," says the Broker of Record. "Rahul’s background in architectural technology, combined with his success leading a team, makes him an invaluable asset to our clients and our culture. We are thrilled to have him on board."

Rahul’s addition ensures that TRU Realty clients continue to receive the most sophisticated and honest representation in the region. Whether you are buying your first home or selling a long-term investment, Rahul’s expertise and leadership will guide you home. Please join us in giving a warm welcome to Rahul Verma!

Ready to start your real estate journey with a professional you can trust? Connect with Rahul Verma Today!

At TRU Realty, our name is our promise. We take great pride in working with individuals who operate with absolute integrity, transparency, and a relentless drive for excellence. We are thrilled to officially announce that Eesha Dham has joined our growing team of professionals.

Eesha enters the real estate industry with a vibrant energy and a sophisticated understanding of the modern digital landscape. In an era where a property’s online presence is the first, and often most critical impression, Eesha’s mastery of social media marketing ensures her clients’ listings will stand out in a crowded marketplace.

"We don’t just look for agents; we look for partners who represent the future of this industry," says Kevin Saunders, Broker of Record. "Eesha’s dedication to her craft and her natural ability to connect with people make her a perfect fit for the TRU Realty brand. She has immense potential, and we are proud to support her as she builds a legacy of success for her clients."

Eesha’s approach is built on the TRU pillars: Truth, Honesty, and Professionalism. Whether you are navigating your very first home purchase or looking for a marketing-forward professional to list your property, Eesha is ready to deliver results with a personal touch.

Join us in welcoming Eesha Dham!

Ready to start your real estate journey with a fresh perspective? Connect with Eesha today to see how her innovative marketing strategies can work for you.

Ottawa’s residential market continued its winter slowdown in February, with overall sales remaining well below the five-year average of 990 transactions for the month. The slowdown, however, is not uniform across segments, and the data tells a more nuanced story than the headline numbers suggest.

Average condo apartment prices rose month-over-month while inventory measures eased, signalling what may be an early shift in a segment that has carried elevated supply since late 2025. Townhomes saw the most turnover of any segment, with sales activity running stronger than typical February levels even as rising inventory placed downward pressure on prices. The single-family market remained comparatively stable, with pricing holding relatively steady despite a drop in total sales. The data suggests significant competition for listings at lower price points.

With CREA forecasting a gradual strengthening in demand throughout 2026, we can likely expect continued balanced market conditions even as we approach a more active spring market.

“Benchmark prices moved higher in February across every segment, and demand remained active where affordability allows, creating a more balanced environment,” the OREB President said. “Buyers are gaining a little more breathing room to make thoughtful decisions, while sellers continue to see consistent momentum. The conditions that kept many buyers cautious over the past year are gradually shifting. Spring is shaping up to be a meaningful window for those who are ready to act.”

Residential Market Activity

In February, 780 residential properties sold in Ottawa, down 6.8% from February 2025. Activity improved from January’s 610 transactions, though sales remained 21.2% below the five-year February average of 990 and 17.8% below the ten-year average of 949. This makes the current winter one of the slowest of the past decade. Even so, demand has not disappeared. Buyer activity remains present, particularly at lower price points, with elevated inventory and ongoing affordability considerations contributing to longer decision timelines. 

Pricing trends reflected this environment. The average residential sale price in February was $662,773, down 1.0% year-over-year, while the median price declined 3.1% to $615,450. Both movements remain modest in scale and are consistent with a market adjusting to elevated supply rather than one experiencing broad-based downward pressure. With months of inventory easing to 3.8 from January’s 4.4 as seasonal sales activity increased, Ottawa continues to operate in balanced territory.

The MLS® Home Price Index provides important context. Benchmark prices remain below year-ago levels, but February recorded month-over-month increases in the composite, single-family, townhouse, and apartment benchmarks compared to January. Because the HPI controls for seasonality and changes in the mix of sales, these gains reflect genuine upward movement in market valuation rather than simply the typical increase in pricing that accompanies the approach of the spring market. This suggests that, despite a slower-than-usual winter, pricing momentum is beginning to firm across segments.

Prices and Market Balance

New listings in February totalled 1,582, down 7.8% from February 2025 but up from January’s 1,522. Active listings reached 2,928 units at month's end, an increase of 11.1% year over year and well above levels seen in recent February periods.

The broader inventory base is giving buyers more properties to consider at any given time, which is reducing urgency. At the same time, improved sales activity and rising month-over-month benchmark prices indicate that underlying demand remains present. Inventory is higher than seasonal norms, but it is being absorbed in a way that is keeping pricing and overall market balance steady.

Months of Inventory

• Single Family: 3.8

• Townhome: 2.7

• Apartment: 5.6 

Looking Ahead

February’s data reinforces what January initially indicated: Ottawa is in a period of transition. This winter has been slower than the past few years, but the combination of firmer month-over-month HPI benchmarks, improving apartment absorption, steady townhome turnover, and relatively stable detached pricing suggests that demand is stable. Buyers continue to operate with more time and more choice than in recent years.

CREA’s 2026 outlook anticipates gradually strengthening demand as lower borrowing costs work their way through the market. Ottawa’s recent results are consistent with that view. If momentum continues to build into spring, the current inventory base should support a more active market without generating sharp price acceleration that has defined previous cycles.

Courtesy of the Ottawa Real Estate Board

At TRU Realty, we pride ourselves on attracting professionals who operate with a higher standard of integrity. Today, it is my distinct pleasure to announce that Malcolm Gibb has joined our brokerage—a move that brings a powerhouse of industry experience to our team and our clients.

Malcolm is far from your average real estate professional. As a veteran of the industry who has owned and operated his own real estate brokerage, he brings a "big picture" perspective to every transaction. His deep-seated mastery of the industry’s inner workings, specifically regarding compliance and ethical standards, makes him a perfect fit for the TRU Realty mission of truth and honesty.

Malcolm understands that a successful move requires much more than just a closing signature. It demands meticulous attention to detail, honest communication, and a proactive approach to the logistical challenges of the market. By joining TRU Realty, Malcolm is able to leverage his high-level oversight and "broker-level" scrutiny to the direct benefit of his clients.

Why Malcolm Gibb is the right choice for your next move:

• Expert Oversight: His background as a former owner means he views every contract through a lens of strict compliance and protection for his clients.

• Truth & Integrity: Malcolm chose TRU Realty because our values align with his own: a commitment to the "TRU" facts of every deal.

• Professional Advocacy: His transition from ownership to our team ensures a level of service and advocacy that is truly second to none.

We are honoured that a professional of Malcolm’s calibre has chosen TRU Realty as his home. His expertise is a massive win for our clients and our community.

Ready to make your next move with a seasoned pro? Contact Malcolm Gibb today to discuss your real estate needs!