TL;DR
- Sales Activity Rebounds: April saw 1,336 homes sold, a strong month-over-month increase that signals a seasonal market rebound, despite sitting 1.9% below April 2025 levels.
- Inventory Rises Significantly: New listings surged by 19.3% year-over-year, pushing total active listings to 4,535 units and providing buyers with much more choice.
- Prices Hold Steady: The average home sale price remained highly stable at $712,184, representing a modest 0.8% increase compared to last year.
- Balanced Conditions: With a sales-to-new-listings ratio of 41.0% and 3.4 months of inventory, the Ottawa market as a whole remains squarely in balanced territory.
Real Estate Market Analysis in April
Ottawa’s housing market continued its seasonal rebound in April, with transaction activity picking up notably month-over-month following a slower winter period. While the broader Canadian economic backdrop remains mixed—prompting the Canadian Real Estate Association (CREA) to temper national expectations for sales and price growth—Ottawa is demonstrating characteristic stability.
A key driver of this stability is the shifting expectation around interest rates. Earlier in the year, concerns about inflation triggering rate hikes caused buyer hesitation. With rates now holding steady and aligning more with long-term norms, that immediate risk has eased, fostering a gradual improvement in buyer confidence and market activity. Supply continues to be the primary force shaping market balance. Inventory levels have been rising since late summer 2025, and the spring influx of new listings has added to this supply, creating less competitive conditions where buyers benefit from increased choice and flexibility.
“We’re seeing the market find its footing after a slower winter,” noted OREB President Tami Eades. “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.”
April Data Breakdown
| Metric | April 2026 | Year-Over-Year Change |
|---|---|---|
| Total Sales Activity | 1,336 | -1.9% |
| New Listings | 3,258 | +19.3% |
| Active Listings | 4,535 | +17.2% |
| Months of Inventory | 3.4 | Up from 2.8 months |
| Average Sale Price | $712,184 | +0.8% |
| Benchmark Price (Composite) | $629,800 | +3.8% |
Note: The Benchmark Price tracks the value of a “typical” home in a given area, smoothing out the distortions that can be caused by changes in the mix of high-end and low-end homes sold in a specific month.
Story of April Real Estate
While the broader market remains balanced, local conditions and property types are behaving distinctly. Suburban areas, particularly in the west, are currently leading the market in activity and stability. Here is how the specific property segments performed in April:
Single-Family Homes The detached home segment demonstrated strong resilience this month. Sales actually saw a slight uptick, with 712 units sold (+0.6% year-over-year). While active listings increased by 12.3% to 2,177 units, the months of inventory remains a very healthy 3.1. Price stability is a hallmark of this segment right now, with the average sale price sitting at $862,916 (virtually unchanged at -0.1% year-over-year), while the benchmark price showed a 2.7% annual gain.
Townhomes Townhomes remain a crucial entry point for buyers focused on affordability, but this segment is seeing the most significant shifts in supply. New listings for townhouses jumped a substantial 22.0% year-over-year, driving active inventory up by 35.6%. Despite 410 sales (a minor 1.9% dip from last year), the surge in supply has kept the months of inventory at 3.0. This increased competition among sellers has led to slight price adjustments, with the average townhome sale price decreasing by 3.8% to $556,172.
Apartments The condominium apartment sector continues to be the softest segment of the Ottawa market, largely impacting the slower absorption rates seen in Ottawa Centre. Sales fell by 5.9% to 190 units, and the segment now holds 4.9 months of inventory—the highest of any property type. This elevated supply and moderate demand have contributed to ongoing price softness, with the apartment benchmark price down 4.7% year-over-year to $379,700.
Looking Ahead
Ottawa’s spring market is expected to continue building momentum as activity improves from the slower pace seen earlier in the year. Despite ongoing economic uncertainty nationally, Ottawa’s local market is demonstrating a narrow, stable pricing range and measured demand that supports balanced conditions rather than sharp shifts in either direction.
Moving forward, inventory will be the critical metric to monitor. Supply levels have been elevated for several months and are continuing to build as the spring season progresses. This gives buyers excellent choice, but if the trend of inventory outpacing sales persists, it could begin to place downward pressure on pricing and force a shift in seller expectations over the coming months.