Ottawa home sales stable in July as new listings begin to ease

Ottawa's housing market held steady in July as the spring rush gave way to summer, with sales virtually unchanged from a year earlier while new listings fell, pointing to a gradual rebalancing of supply and demand.

A total of 1,325 homes sold through the MLS System in July, an increase of 0.2 percent from July 2025. Although sales declined 12.7 percent from June—a much smaller drop than the median 20.7 percent June-to-July decrease over the previous decade—Ottawa retained considerably more spring activity than typical.

Single-family home sales rose 5.0 percent year-over-year to 714 transactions. Townhouse sales declined 4.1 percent to 417, while apartment sales fell 6.6 percent to 169. Both townhouse and apartment sales declined less than they had in the corresponding June comparison from 2025.

Year-to-date through July, 8,288 homes have sold, down 5.2 percent from the same period in 2025. Total year-to-date dollar volume was approximately $5.8 billion, down 5.6 percent year-over-year.

Pricing remained broadly stable. The average residential sale price was $683,308 in July, down 1.6 percent from July 2025, while the median price held unchanged at $635,000. The MLS Home Price Index recorded a composite benchmark price of $634,000, down 0.5 percent year-over-year but up 0.3 percent from June.

New listings totaled 2,530 in July, down 0.8 percent from a year earlier. Active listings reached 4,678, up 9.3 percent year-over-year but down 6.1 percent from June. Although inventory remains high compared with recent historical trends, the slower pace of new supply suggests the flow of homes coming onto the market is beginning to moderate.

OREb President Tami Eades noted the results reflect a steady market moving through the typical summer slowdown. "However, conditions continue to vary significantly by property type and neighbourhood," she said, noting absorption was firmer in suburban markets while condominium apartments—particularly downtown—experienced softer conditions.