Ottawa sees 10% drop in homes sales in May

A new home is shown for sale in a housing development in Ottawa on Tuesday, July 14, 2020. THE CANADIAN PRESS/Sean Kilpatrick

Home sales in Ottawa were down more than 10 per cent in May compared to a year ago, the fifth straight month with lower home sales in 2026 compared with a year earlier.

The Ottawa Real Estate Board says 1,616 homes and condominiums were sold in Ottawa in May, down from 1,807 homes sold in May 2025.

“These slower sales are becoming a theme thus far in 2026, even as the market remains active,” the board said in a statement.

According to the statistics, single-family home sales were down 8.6 per cent in May compared to last year, while townhouse sales were down 14.3 per cent and condo sales were down 12 per cent. A total of 904 single-family homes, 481 townhouses and 203 apartment-style properties were sold last month.

There were 4,917 active listings on Ottawa’s real estate market in May, with the board saying it’s “keeping pressure on sellers to price strategically.” There were 3,351 new listings in May.

“May brought the seasonal increase in activity we typically expect to see in Ottawa’s housing market, but sales continue to trail last year’s pace.” OREB President Tami Eades said in a statement.

“While economic uncertainty continues to influence consumer confidence, the key question moving into the summer market will be whether demand continues to keep pace with supply. The market remains active, but inventory levels, employment trends, and buyer confidence will all play an important role in shaping the months ahead.”

The 10.6 per cent drop in home sales in Ottawa in May compared to the year before was the largest one-month decline in sales so far this year. Home sales were down year-over-year 1.9 per cent in April, 4.7 per cent in March, 6.8 per cent in February and 5.6 per cent in January.

The Ottawa Real Estate Board notes the 1,616 properties sold in Ottawa in May were up from 1,336 homes sold in April.

Home prices

The average sale price for homes in Ottawa was $721,270 in May, 0.9 per cent below the sale prices in May 2025.

The average price of a single-family home was $723,800, up 0.3 per cent from May last year.

Townhouse prices dropped 3.2 per cent year-over-year to $557,500 last month. According to the board, the benchmark price for apartment-style properties was $385,500 in May, down 6.7 per cent from May 2025.

“Average and median apartment prices were also lower year over year,” the board said.

“This weakness is not unique to Ottawa; Toronto’s condo sector has also been affected by weaker investor demand and higher carrying costs.”

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