Staying in Touch March 2026 Newsletter

Happy March, St. Patrick’s Day & Easter!

The weather has us all wondering what is coming next. . . but Spring and more daylight is almost here in March. Time to tune up bikes, plan gardens & make vacation plans!

Overall in February there were 780 residential properties sold in Ottawa, more than Jaunary’s 610 sales but down 6.8% from February 2025. There were 2,928  properties (all housing types) on the market at the end of February, an increase of 11.1% year over year. This increase in supply is giving buyers more properties to consider and reducing urgency, again depending on neighborhood and style of home. The average price for all sold properties in February in Ottawa was $662,773, down 1.0% year over year. Months of inventory is down to 3.8 months from 4.4 months in January.  For more market information read our 50 Years of Change and our newsletter.

If you’re ready to sell or purchase, follow your plan and you will be successful. Responsible and affordable ownership is our goal for our clients. Real estate provides unique benefits beyond other financial assets. Whether you are thinking of selling or purchasing this year or next, we would be happy to consult with you to make a plan.

This month we’ve included:

• An Update on the Ottawa market and Mortgage information: Looking Beyond Mortgage Rates
• Articles: How to Select a Home Inspector for Your Home Purchase, How to Refresh Your Home for Spring?, How to Sell and Buy a Home at the Same Time?
• Community events to enjoy in our city including Maple syrup farms & Easter Activities

We are also continuing to support Royal LePage’s Shelter Foundation for women and children. The Royal LePage Shelter Foundation creates safer homes and safer communities by funding women’s shelters and violence prevention programs across Canada. Every dollar raised goes directly to helping the more than 50,000 women and children who are served each year by the shelters and support programs.

As always feel free to call and email with any questions or to chat, we would love to hear from you.

Joan, Victoria & Luc

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   @JoanSmithRealEstateFamily         @JoanSmithRealEstateFamily        Mrs. Joan Smith       The Joan Smith Real Estate Family

Market Update

As of March 4, the Ottawa Real Estate Board reports 780 properties (residential & condominiums) sold in February 2026, well below the five year average of 990 transactions for the month but up from the January transactions of 610. However, sales differ across segments. For example average condo apartment prices rose month over month. Townhome sales were stronger in February but due to the higher inventory, prices experienced downward pressure. Single family homes unit sales declined in February but prices remained relatively stable. There have been 1,390 home sales to date this year, which is 6.3% below the same period in 2025.

The average sale price for homes sold in February 2026 was $662,773, about a 1% decrease when compared to February 2025. Keep in mind, these are averages so some homes experienced a larger gain and some less. Single-family sales average price was $830,951 in February 2026, up 0.6% compared to February 2025 and up about 3.7% compared February 2024. Townhomes average price was $539,639  in February, a decrease of 7.5% when compared to February 2025 and down 3.5% when compared to February 2024. Apartments average price was $428,538, down 0.8% from February 2025 and a decrease of 0.1% compared to February 2024.

For Kanata, unit sales in February (all housing types) were 103, translating to approximately a 27.2% increase when compared with February 2025. For greater Stittsville (includes Stittsville, Richmond, Munster & surrounding area), unit sales in February 2026 (all housing types) were 36 units, about a 5.3% decrease from February 2025. In Kanata, the average sale price in February 2025 was $660,890 for all housing types (a 6.6% decrease from February 2025), and the median days on market was 24 days. For greater Stittsville, the average sale price in February 2026 was $771,872 for all housing types (about a 4.3% decrease from February 2025) and the median days on market was 20 days.  (Source: OREB, Residential Market Activity and MLS^®Home Price Index (HPI) Report, February 2026, District 90 – Kanata & District 82 – Stittsville – Munster – Richmond)

February residential inventory in Ottawa – The inventory of homes on the market in Ottawa in February continues to give buyers choice. 1,582 new listings (all housing types) on the market in February 2026, an decrease of 7.8% when compared to February 2025. In February 2026, there were 2,928 homes for sale (all housing types), a 11.1%% increase when compared to February 2025. Buyers generally have choice but again it depends on the neighborhood and style of home. Monitoring the market is key if you are thinking of selling or buying.

At the end of February 2026, Ottawa’s inventory of homes (all housing types) is 4.0 months, down from 4.4 months of inventory in January 2026 (this is the number of months it would take to sell current inventories at the current rate of sales activity). Months of inventory for single family homes was: 4.0, down from the previous month of 4.3. Months of Inventory for townhomes was: 2.7 months compared to 3.3 months in January. Months of Inventory for apartments decreased to 5.6 months from 6.8 months in January.

Click here to read our Ottawa Market Update February 2026 – 50 Years of Change.

Source: Ottawa’s Housing Market Shows Early Signs of Transition as Winter Activity Remains Subdued, OREB, March 4, 2026

Latest Mortgage Information

Looking Beyond Mortgage Rates

It’s easy to get caught up in the idea that comparing mortgage rates will guarantee you get the best bang for your mortgage buck. While this may be true for particular situations, there are many scenarios where this strategy is not effective. Following are three reasons why it doesn’t always pay to make a decision based solely on rates and important to look at other factors.

Long-Term Planning and Risk Tolerance

• Your long-term plan and risk tolerance should dictate the appropriate mortgage product, which may not always have the lowest rate.
• Insured mortgages might offer lower rates, but added insurance premiums could outweigh the savings if you plan to sell the property soon.
• Choosing a slightly higher fixed-rate mortgage for payment consistency or opting for longer terms can be beneficial in certain situations.

Overlooking Important Factors

• Comparing rates alone does not include crucial factors like prepayment options, secondary financing allowances, early payout penalties, and associated fees.
• Some lenders may offer incentives like covering some costs associated with closing the mortgage or providing cash-backs, which can offset higher rates.

Rate Fluctuations and Pre-Approval

• Lenders can adjust rates anytime, making rate shopping tricky.
• Pre-approval with a lender locks in rates and conditions for a specified period, ensuring stability during the mortgage process.

It is also key to monitor your credit score as mortgage rates can be heavily influenced by credit scores, emphasizing the need for solid credit to secure favorable deals.

Comparing mortgage rates alone is insufficient. Considering long-term plans, evaluating additional mortgage features, and securing pre-approval are essential steps for finding the most suitable mortgage option.

These are just three reasons why it’s not enough to merely compare mortgage rates. The mortgage rate you may qualify for is also highly dependent on your credit score among other things. In order to get the best mortgage deals, you need to have solid credit.

Reni McNeil
Mortgage Brokers Ottawa
Apply online: www.renimcneil.ca
renim@mortgagebrokersottawa.com
License: 11759

In the Community

We are proud supporters of the Royal LePage Shelter Foundation dedicated to funding women’s shelters and domestic violence prevention in Canada.

Click here to learn more abut the organization and how to offer your support!

Enjoy some time with family and friends at a local maple sugar bush. Click here for a list of some greater Ottawa sugar shacks & farms.

Things to Do in March 2026

• Fortune Farms – March 7th – end of April
• Ottawa Valley Farm Show – March 10-12
• International Film Festival of Ottawa – March 11-22
• Ottawa Nostalgia & Collectible Show – March 15
• March Break Activities– March 16-20
• March Break Public Skating at Canadian Tire Centre – March 17-20
• Ottawa Home & Garden Show – March 19-22
• Ottawa Wedding Show – March 28-29
• Easter activities – March 28-April 6
• Free Thursday nights at the National Gallery of Canada

See more events:
Things to do in Ottawa this weekend &

Ottawa Tourism 

Selling a Home

To help potential sellers, we’ve created a home sellers’ guide that is divided into several topics, from evaluating your home to receiving offers.

Sellers Resources

• Selling & Buying at the Same Time
• Home Sellers’ Guide
• Staging Your Home
• Creating Curb Appeal
• Reacting to Offers
• Receive $50.00 off from 1-800-GOT-JUNK?
  Contact Us for Details!