Winter 2026 ‘one of the slowest’ for real estate in 10 years, OREB says

A 'for sale' sign sits atop a real estate sign on Thursday, May 15, 2025. (Dave Charbonneau/ CTV News Ottawa)

The Ottawa Real Estate Board (OREB) says the winter of 2026 is one of the slowest winters in the market in the last 10 years, with sales well below the five- and 10-year averages.

The OREB says 780 residential properties were sold in Ottawa in February, down 6.8 per cent from the same month last year.

“Activity improved from January’s 610 transactions, though sales remained 21.2 per cent below the five-year February average of 990 and 17.8 per cent below the ten-year average of 949. This makes the current winter one of the slowest of the past decade,” a news release says. “Even so, demand has not disappeared. Buyer activity remains present, particularly at lower price points, with elevated inventory and ongoing affordability considerations contributing to longer decision timelines.”

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The OREB says the winter slowdown has not been uniform across segments. Average condo apartment prices rose month over month. Townhomes saw significant turnover, with sales activity running stronger than typical February levels and the single-family market remained comparatively stable.

The average residential sale price in February was $662,773, down 1.0 per cent year over year, the OREB said, while the median price declined 3.1 per cent to $615,450.

The average price for a single-family home in February was $830,951, up 0.6 per cent from February 2025. The median price, however, was down 2.8 per cent year over year, at $763,250. Townhouses averaged $539,639, down 7.5 per cent from 2025 prices. Condos were up by 0.8 per cent year over year, averaging $428,538 in February.

New listings in February totalled 1,582, down 7.8 per cent from February 2025 but up from January’s 1,522.

“Benchmark prices moved higher in February across every segment, and demand remained active where affordability allows, creating a more balanced environment,” said Tami Eades, President of the Ottawa Real Estate Board. “Buyers are gaining a little more breathing room to make thoughtful decisions, while sellers continue to see consistent momentum. The conditions that kept many buyers cautious over the past year are gradually shifting. Spring is shaping up to be a meaningful window for those who are ready to act.”

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