Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for May 2026 in the top five "downtown" areas - Centretown, Byward Market and Sandy Hill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what is sold through the MLS. Also important to note that DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is roughly 14 days for almost every single transaction.
The Ottawa housing market continued its typical spring climb in May, but the story isn't one of rapid growth or fierce competition. Instead, the market is showing signs of balance, with more inventory, more choice for buyers, and a growing need for sellers to be strategic.
A total of 1,616 homes sold across Ottawa in May, up from April as expected during the spring market. However, sales were still down compared to May of last year. While buyers haven't disappeared, many are taking longer to make decisions, weighing economic uncertainty, interest rates, and affordability concerns before making a move.
At the same time, inventory continues to build. Ottawa ended May with nearly 5,000 active listings, giving buyers significantly more options than they had during the ultra-competitive markets of 2021 and 2022. For many buyers, that's welcome news. For sellers, it means standing out has become more important than ever.
More Inventory Doesn't Mean Falling Prices
One of the most common misconceptions we're hearing right now is that rising inventory automatically means prices are dropping.
The reality is more nuanced.
Ottawa's average residential sale price in May was $721,270, which is essentially unchanged from where the market sat a year ago. Median prices showed a similar pattern. While some property types have experienced softer pricing, Ottawa as a whole remains remarkably stable.
This isn't a market experiencing broad price declines. Instead, it's a market where performance varies significantly depending on the type of property you're selling.
Single-Family Homes Continue to Lead
If there's one segment showing resilience, it's single-family homes.
Detached properties continue to attract strong buyer interest, with benchmark prices holding steady and median prices actually increasing slightly compared to last year.
Many buyers who postponed purchasing over the past year are still targeting detached homes whenever their budgets allow. Limited long-term supply and continued demand from families have helped support values even as inventory has increased.
For sellers of detached homes, this remains one of the strongest segments of Ottawa's market, although accurate pricing and professional marketing are still critical.
Townhomes Are Facing More Competition
Townhomes continue to serve as an important entry point for many buyers, but they're facing more competition than they did a year ago.
Sales activity slowed in May, and inventory levels remain elevated. While prices haven't experienced dramatic declines, buyers have become more selective and are taking advantage of the increased selection available.
For sellers, this means presentation, pricing, and marketing matter more than ever. Buyers have options, and homes that are overpriced or poorly presented are sitting longer than they would have during previous spring markets.
Condos Remain the Softest Segment
Apartment-style condominiums continue to face the greatest pressure.
Prices remain below last year's levels, and inventory is taking longer to absorb. Higher carrying costs, changing investor demand, and an abundance of choice have created a more challenging environment for condo sellers.
That doesn't mean condos aren't selling. Well-priced units in desirable buildings and locations continue to attract buyers. However, the days of assuming every condo will sell quickly are largely behind us.
For buyers, this may be one of the best opportunities in Ottawa's current market. Increased inventory and reduced competition can create more negotiating power than we've seen in several years.
Ottawa Isn't One Market
Another important takeaway from May's data is that Ottawa continues to behave as a collection of neighbourhood markets rather than one citywide market.
Central Ottawa showed stronger activity than many areas this month, while parts of the west end continued to see healthy demand. Rural markets, meanwhile, produced mixed results depending on location and inventory levels.
That's why broad headlines often fail to tell the full story.
A detached home in Westboro, a condo in Centretown, and a townhome in Barrhaven may all experience very different market conditions despite existing within the same city.
What Buyers Should Know
For buyers, today's market presents opportunities that haven't existed for several years.
More inventory means more choice. Conditions are becoming more common. Buyers have additional time to complete inspections, financing reviews, and due diligence before making decisions.
At the same time, desirable homes are still attracting competition. Waiting indefinitely for major price declines may leave some buyers disappointed if Ottawa's market continues to hold steady.
The best opportunities often come from identifying individual properties that are priced aggressively or have been overlooked, rather than trying to perfectly time the entire market.
What Sellers Should Know
For sellers, the market remains active, but strategy matters more than ever.
The homes generating strong interest are typically those that are priced correctly from day one, professionally marketed, and presented exceptionally well online.
Buyers have become more informed and more selective. Overpricing can lead to longer market times and eventual price reductions, while a well-positioned listing can still generate excellent results.
The gap between the best-performing listings and the weakest-performing listings continues to widen.
Looking Ahead to Summer
As Ottawa moves into the summer market, the biggest question isn't whether inventory will remain elevated. It's whether buyer demand will continue keeping pace with new supply.
Employment trends, consumer confidence, interest rates, and the absorption of newly completed housing will all play important roles over the coming months.
For now, Ottawa remains a balanced market. Buyers have more opportunities than they did a few years ago, sellers can still achieve strong results with the right strategy, and overall pricing continues to demonstrate remarkable stability despite economic uncertainty.
In a market like this, local knowledge matters more than broad headlines. Whether you're buying, selling, or simply trying to understand what's happening in your neighbourhood, understanding the specific conditions affecting your property type and area is often more valuable than focusing on citywide averages alone.
Important to note is that these statistics can only be as accurate as there are condos sold in Ottawa. The more condos sold in an area, the more accurate the averages will be.
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