If the Ottawa real estate market seemed quieter in August, the latest numbers confirm that it was not just your imagination.
August is often slower than July. People are travelling, enjoying the final weeks of summer and preparing for the start of a new school year. This year, however, the drop in home sales was much larger than we would normally expect.
At the same time, home prices remained fairly steady. That makes August an interesting month—and a good example of why we cannot describe the entire market with one simple headline.
Sales Dropped Sharply
Ottawa recorded 1,002 residential sales through the MLS® System in August, down 18.6% from the same month last year.
Sales were also 24.4% lower than in July.
To put that monthly decline into perspective, the typical July-to-August drop over the previous ten years was 5.8%. This year’s decline was more than four times that historical seasonal change.
August’s sales total tied 2022 for the lowest August result since 2016.
The slowdown affected every major property category:
535 single-family homes sold, down 16.3% year over year
310 townhouses sold, down 19.9%
136 apartments sold, down 22.3%
This is worth noting because earlier periods of slower activity were more concentrated in townhouses and apartments. In August, reduced sales were seen across the broader residential market.
Through the end of August, 9,283 Ottawa homes had sold in 2026. That was 6.9% fewer than during the same period in 2025.
Home Prices Told a Different Story
While sales fell considerably, prices did not follow them down to the same degree.
The average residential sale price was $688,253, an increase of 0.3% compared with August 2025 and 0.7% compared with July.
The median price was $622,357, down 1.2% year over year and 2% from July.
The MLS® Home Price Index—which is less affected by changes in the mix of properties sold—reported a composite benchmark price of $637,700. That was 1% higher than a year ago and 0.6% higher than in July.
Put those numbers together and we get a mixed picture: fewer homes sold, but overall values remained relatively stable.
As OREB President Tami Eades noted, this is not a market moving uniformly in one direction. Different neighbourhoods, property types and price ranges can behave quite differently.
That is why an Ottawa-wide average should be treated as useful background information—not as an automatic estimate of what an individual home is worth.
There Was Less New Supply—but Demand Fell Faster
Ottawa had 2,119 new listings in August. That number was unchanged from August 2025 but 16.2% lower than in July.
There were 4,496 active listings at the end of the month. Active inventory declined 3.9% from July but remained 11.3% higher than a year earlier.
Normally, fewer new and active listings could help maintain a closer balance between buyers and sellers. In August, however, sales declined much faster than the number of available properties.
Months of inventory reached its highest August level since 2016. This indicates that buyers had more choice relative to the pace of sales.
It is also important to understand how some listings left the market.
OREB found that cancellations, terminations and expirations became more prominent relative to completed sales through the summer. Although those non-sale removals declined from July, sales declined even more sharply.
That suggests some sellers may have decided to step back, rethink their price or wait for different market conditions rather than complete a sale.
What Buyers Can Take from the August Market
For buyers, slower activity can create opportunities that were more difficult to find in a highly competitive market.
Depending on the property, buyers may have:
More time to evaluate their choices
A better opportunity to include protective conditions
Greater ability to compare recent sales
Less pressure to make an immediate decision
More negotiating room on certain listings
That does not mean every seller will accept a lower offer. Well-located, properly priced and attractively presented homes can still generate strong interest.
The important thing is to understand the competition around the particular home you are considering.
How long has it been listed? Has the price changed? What have similar nearby properties sold for? Are other buyers showing interest? Those details matter much more than a broad statement that it is a “buyer’s market.”
What Sellers Should Consider
Sellers are facing more competition for a smaller pool of active buyers.
In these conditions, pricing too high at the beginning can be costly. A home may receive fewer showings during its most important first weeks on the market, while buyers focus their attention on better-positioned alternatives.
Before listing, sellers should give careful thought to:
The most recent comparable sales
Competing homes currently for sale
The property’s condition and presentation
Professional photography and marketing
Likely buyer concerns
Showing accessibility
Pricing strategy
How long they are prepared to remain on the market
A slower market does not necessarily require expensive upgrades or a steep discount. It does require an honest understanding of how the property compares with the choices buyers already have.
Is It Still a Good Time to Move?
There is no single answer that applies to everyone.
If you need more space, want a more manageable home, are relocating for work or family, or have found a property that better fits your lifestyle, your reasons for moving may be more important than one month of statistics.
People who are both selling and buying also need to consider both sides of the transaction. A little more competition when selling may be offset by having more choice and negotiating flexibility when purchasing.
The best approach is to develop a plan around your home, your neighbourhood, your finances and your timing.
Looking Ahead to Ottawa’s Fall Market
August gave us a softer starting point heading into the fall. Sales were considerably weaker, inventory remained elevated compared with last year, and some sellers appeared to be reconsidering their plans.
Prices, however, were much more stable than the sales numbers might suggest.
One month does not create a lasting trend. The next few months will help show whether August was an unusually quiet end to the summer or the beginning of a more sustained shift.
If you are thinking about buying or selling in Orléans, Cumberland or elsewhere in Ottawa, I can help you look beyond the city-wide averages and understand what is happening in the part of the market that applies to you.
I’m Steve Sicard, an Orléans and Ottawa REALTOR® and Seniors Real Estate Specialist®. Since 2007, I have helped buyers, sellers and families make informed real estate decisions with practical advice, personal service and no unnecessary pressure.
If you would like to discuss your plans, let’s start with a no-obligation conversation.
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