If you’ve been watching Ottawa’s housing market and wondering whether things picked up in October, the answer is: a little.
More homes sold than in September, and fewer new listings came onto the market. That helped ease some of the pressure on sellers. Buyers, though, still had plenty of choice, and prices were lower than they were a year ago.
Let’s walk through what happened and what it could mean if you’re thinking about a move.
Sales Picked Up Slightly
A total of 1,048 residential properties sold through Ottawa’s MLS® System in October. That was up 3.8% from September, but down 10.7% from October 2025.
So, while activity improved from the previous month, it was still quieter than last year.
Looking at the first ten months of 2026, there were 11,335 sales, down 7.3% from the same period in 2025. Meanwhile, new listings were up 3.4%.
That helps explain why buyers have had more options and why sellers have been facing more competition.
Fewer Listings Helped Narrow the Gap
October brought 2,382 new listings, down 18.6% from September and 1.2% from a year earlier.
That monthly drop matters. When fewer homes come onto the market while sales increase, the gap between incoming listings and purchases starts to narrow.
Still, October wasn’t short on new listings. It had the third-highest October total since 2016, with 26.1% more new listings than the previous ten-year October average.
The number of homes available also declined. There were 4,582 active listings, down 4.8% from September, but still 6.4% above October 2025.
In everyday terms, sellers had a little less competition than in September, while buyers still had a sizeable selection.
Prices Edged Lower
The average residential sale price was $678,512, down 1.0% from September and 4.5% from October 2025.
The median sale price was $622,000, down 0.5% from September and 3.9% from a year earlier. The median is the middle sale price, with half of the homes selling above that amount and half below.
After average prices stayed within a fairly narrow range from July through September, October brought a small decline.
These figures help describe the overall market, but they don’t tell us exactly what an individual home is worth. Location, property type, condition and the competing homes nearby all matter. The mix of homes sold can also affect the citywide average.
Was October the Start of a Turnaround?
There were encouraging signs, but one month doesn’t establish a trend.
The sales-to-new-listings ratio rose from 34.5% in September to 44.0% in October. That means there were about 44 sales for every 100 new listings during the month.
Months of inventory also eased from 4.8 to 4.4. This estimates how long it would take to sell the available homes at the month’s sales pace, assuming no new listings were added.
Both measures improved from September, but they were softer than last October, when the ratio was 48.7% and inventory stood at 3.7 months.
Seasonality played a part, too. New listings normally decline between September and October. This year’s drop was larger than the typical decline over the previous ten years, but we’ll need to see whether the improvement continues.
What This Means if You’re Buying
More choice gives you room to compare homes carefully.
You can look beyond the photos and ask how each property would fit your everyday life. Consider the layout, maintenance, location and any work you might need to take on.
Depending on the home and the seller’s circumstances, there may also be room to discuss price, conditions or the closing date. That will vary from one listing to another.
The useful question is: Does this home make sense for my needs and my budget?
A quieter market can give you more breathing room to answer that.
What This Means if You’re Selling
Homes are selling, but buyers have alternatives.
That makes it especially important to price your home using recent comparable sales and to understand what else buyers can choose from today.
Preparation and presentation matter as well. A clean, welcoming home, good photography and clear information help buyers understand what your property offers.
If your home is already listed, showing activity and feedback can help us decide whether the approach needs adjusting. October’s improvement is welcome, but it doesn’t remove the need for a realistic plan.
Planning Your Next Move
October brought a little more balance to Ottawa’s housing market, although conditions continued to lean in buyers’ favour.
Borrowing costs, employment uncertainty and housing policy remain factors to watch as we head into winter. For anyone planning a move, the most useful starting point is the market for the type of home you’re selling or hoping to buy.
If you’re considering buying or selling in Orléans, Ottawa or the surrounding area, I’d be happy to help you work through the numbers and your options.
We can start with a conversation about what you need, what your timeline looks like and what would make the move worthwhile for you. Book your no-obligation conversation
Source: Ottawa Real Estate Board, October 2026 market statistics.
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