Despite a slight dip in transactions and prices for some housing types, the January 2026 resale market was all about balance, according to the Ottawa Real Estate Board. That’s a welcome sign for buyers and sellers alike after the pandemic years of skyrocketing sales and prices and the inevitable slowdown that ensued.
Realtors sold 610 properties through the board’s Multiple Listing Service (MLS) last month, down more than five per cent compared to the same month last year but not far off the ten-year average.
The average price of a resale home was $641,436, down 4.5 per cent from January 2025 reflecting what the board termed “a more price-sensitive buyer pool.”
Supply also varied significantly by property type, said the board. New listings totalled 1,522 last month while active listings hit 2,673, increases of almost nine and 23 per cent, respectively. The 4.4 months of inventory in January were close to the pre-pandemic average.
“What January is showing us is a market that’s adjusting in a healthy way,” said board president Tami Eades in a statement. “We’re seeing more choice for buyers, more realism on the selling side, and pricing that’s responding to those conditions without sharp swings. That kind of balance is a sign of stability, not stress.”
Housing types by the numbers & looking ahead
Realtors sold 276 single-family homes in January, down 14 per cent year over year. The average price was $793,874, down 3.6 compared to a year ago, while supply was balanced.
Townhome sales jumped more than six per cent to 615 units, while the average price slipped more than three per cent to $536,106. New and active listings soared 46 and 67 per cent, respectively, slightly favouring buyers in the process.
Condo apartment sales, in the doldrums for an extended period and still less than a year ago, grew to 95 from 78 in December while months of inventory shrank from 7.9 to 6.8, “an indication of stronger absorption,” said the board. Selling prices averaged $388,307, down 12 per cent from the same month last year but, according to the board, the combination of higher sales and lower months of inventory suggests that conditions may be starting to stabilize.
Casting ahead, “January supports a credible case for a stronger spring market if (interest) rate reductions continue to ease affordability pressures,” concluded the board.
