Staying in Touch May 2026 Newsletter

Happy May & Victoria Day!

It’s that time of year we are all enjoying watching the trees and flowers begin to add colour to our neighborhoods and backyards and get excited with cottage season opening and summer holiday planning. Just as the spring moves along so is the Ottawa real estate market. More homes are being prepared and put to market. We see potential purchasers viewing many homes and reviewing their budgets before making final decisions.

As of May 5, the Ottawa Real Estate Board reports 1,336 properties (residential & condominiums) sold in April 2026, down 1.9% year over year but better than March (1,075), showing signs of regaining momentum. Year to date, 3,839 homes have sold, a 4.4% decline from 2025. Most housing segments recorded modest month over month gains except for condo-apartments. Market balance continues to be largely influenced by supply and activity varies by neighborhood and region across the City. The average sale price for homes sold in April 2026 was $712,184, about a 0.8% increase when compared to April 2025. For more market information read our 50 Years of Change and our newsletter.

With many having to sell and buy at the same time, we are receiving questions about how to do this and how bridge financing works, please see our guide on how to sell and buy at the same time and also the article in this newsletter on Bridge Financing.

This month we’ve included:

• An Update on the Ottawa market and Mortgage information: What Buyers Should Know About Bridge Financing
• Articles: Summer Projects to Enjoy & Increase Home Resale Value, Role of Personal Goals When Deciding to Move, Should You Buy the “Except for . . .” Home?
• Community events to enjoy in our city including many local Ottawa Farmers’ Markets opening in May!

Feel free to give us a call or send an email if you are thinking of changing your lifestyle and would like to explore your options or need a market valuation of your home to help get your started.

Enjoy the Victoria Day long weekend!

Joan, Victoria & Luc

Contact Us  

Follow us on:

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

Market Update

As of May 5, the Ottawa Real Estate Board reports 1,336 properties (residential & condominiums) sold in April 2026, down 1.9% year over year but better than March (1,075), showing signs of regaining momentum. Year to date, 3,839 homes have sold, a 4.4% decline from 2025. Most housing segments recorded modest month over month gains except for condo-apartments. Market balance continues to be largely influenced by supply. Active properties on the market reach 4,535 units in April, up 17.2% year over year and new listings also rose by 19.3%. However, activity varies by neighborhood and region across the City. “The western suburbs appear to be the strongest area with more consistent sales and tighter inventory conditions.”

The average sale price for homes sold in April 2026 was $712,184, about a 0.8% increase when compared to April 2025. The median price was $650,000, unchanged year over year. Year to date, Ottawa’s average price was $683,303 (down 0.4%) and the median price was $630,000 (down 0.8%), compared to the same period in 2026.

Single-family average price was $862,916 in April 2026, a decrease of 0.1% compared to April 2025. Townhomes average price was $556,172  in April, a decrease of 3.8% when compared to April 2025. Apartments average price was $425,935, down 1.3% from April 2025.

However, the MLS^® Home Price Index (HPI), shows that Benchmark prices recorded modest month over month gains in most segments, except for condonminium apartments.

For Kanata, unit sales in April (all housing types) were 68, translating to approximately a 7.9% increase when compared with April 2025. For greater Stittsville (includes Stittsville, Richmond, Munster & surrounding area), unit sales in April 2026 (all housing types) were 83 units, about a 20.3% increase from April 2025. In Kanata, the average sale price in April 2026 was $886,486 for all housing types (a 1.2% decrease from April 2025), and the median days on market was 21 days. For greater Stittsville, the average sale price in April 2026 was $795,489 for all housing types (about a 3.9% decrease from April 2025) and the median days on market was 19 days.  (Source: OREB, Residential Market Activity and MLS^®Home Price Index (HPI) Report, April 2026, District 90 – Kanata & District 82 – Stittsville – Munster – Richmond)

March residential inventory in Ottawa – The inventory of homes on the market in Ottawa in March continues to build. 2,452 new listings (all housing types) on the market in March 2026. In March 2026, there were 3,578 homes for sale (all housing types), a 10.3% increase when compared to March 2025. Buyers are looking at more homes before making decisions. Keep in mind supply of homes may vary by neighborhood and style of home. Monitoring recent sales and active properties is key for both buyers and sellers.

At the end of April 2026, Ottawa remains in a balanced market with a sales-to-new-listings ratio of 41% and Ottawa’s inventory of homes (all housing types) is 3.4 months (this is the number of months it would take to sell current inventories at the current rate of sales activity). However months of inventory varies across property type. For single family homes was: 3.1 months, up from the previous month of 3.0. Months of Inventory for townhomes was: 3 months compared to 2.8 months in March. Months of Inventory for apartments decreased to 4.9 months from 5.5 months in March.

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

Source: Spring Activity Builds as Ottawa Market Remains Balanced, OREB, May 5, 2026

Getting Ready for the Sailing Season – Nepean Sailing Club

Latest Mortgage Information

What Buyers Should Know About Bridge Financing

As we move through another active spring market in Ottawa, we’re continuing to see many homeowners purchase their next property before the sale of their current home officially closes. With timelines not always lining up perfectly, bridge financing has become an increasingly important part of the conversation.

What Is Bridge Financing?

Bridge financing is a short-term lending solution designed to “bridge the gap” between the closing date of your new home purchase and the closing date of your existing home sale.

For example: Your new home closes on June 3. Your current home closes on June 20

Bridge financing allows you to temporarily access the equity from your current home so you can complete the purchase without delay.

A Common Misconception We’re Hearing

Recently, several clients have been told they can only obtain bridge financing if their mortgage is also with the same bank offering the bridge loan.

While some lenders do prefer this structure, it is not an industry-wide rule. Policies vary significantly between lenders, and there are often additional options available depending on the overall financing structure. This is one of the reasons why having a mortgage strategy in place early can make a significant difference during the buying and selling process.

What Is Typically Required?

To qualify for bridge financing, lenders generally require:

• A firm sale agreement on the departing home
• A firm purchase agreement on the new property
• Sufficient equity in the current home
• Confirmation of both closing dates

Most traditional lenders also require the sale of the current home to be fully firm before approving bridge financing.

What Does Bridge Financing Cost?

Bridge financing is intended to be temporary, but there are still costs buyers should plan for. Typically, borrowers can expect:

• Interest rates around Prime + 2% to Prime + 5% depending on the lender and file strength.
• Administrative fees commonly range from approximately $200–$600
• Possible legal fees for registering and discharging the bridge loan

As a rough example:
A $200,000 bridge loan for 30 days could cost approximately $1,500–$2,000 in interest and fees, depending on the lender and interest rate structure.

The good news is that because bridge loans are usually short-term, the total borrowing cost is often manageable when properly planned for.

Why This Matters in the Current Ottawa Market

In many areas of Ottawa, particularly among move-up buyers and growing families, buyers are still acting quickly when the right home becomes available. This often means purchasing first and finalizing the sale of the current home shortly after. Understanding financing timelines, equity access, deposits, and bridge options ahead of time can help avoid unnecessary stress and last-minute surprises.

Final Thoughts

Every lender approaches bridge financing differently, which makes preparation and lender selection especially important. A proactive financing strategy can create a much smoother transition for clients navigating both a purchase and a sale at the same time. If you are considering a move this season and have questions around bridge financing, timing, or mortgage options, I’d be happy to help walk through the numbers and discuss the available solutions.

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

For sale: 214 Davy Street, Bridlewood, Kanata

Local Farmers’ Markets to Enjoy in Greater Ottawa

It is a great time to get out and check out the fresh farmers produce at one of the local Ottawa & Area Farmers’ Markets. Many have opened or open this coming weekend

Here are some of the local markets in our communities. Tap on each name for a link to each market’s web page. For more markets tap here.

• Almonte Farmers’ Market In the parking lot of the Almonte Public Library (beside the Beer Store). 8:30 to 12:30 pm, Open May 16
• Byward Market and Parkdale Market in Ottawa
• Carp Market is located at the fair groups in Carp and is open every Saturday from 8:00 a.m. to 1 p.m., Open May 16
• Carleton Place Farmers’ Market At Market Square (Beckwith @ Lake Avenue), open Saturdays 8:30 a.m. to 12:30 p.m., Open May 9
• Kanata Farmers’ Market 745 Kanata Avenue (Centrum). Open Saturdays 9 a.m. to 3 p.m. from May to October, Open May 9

Things to Do in May 2026

• Spring Festivals in Ottawa – Throughout May & June
• Canadian Tulip Festival – May 8-18
• 613flea – May 16, June 6 & 27
• Stittsville Bookfair – May 16
• Atletico Ottawa – May 17
• Ottawa Redblacks Fan Fest – May 16
• Chamberfest City Series – May 19
• Give to Art Auction – May 21
• Ottawa Rapid FC – May 23 & more
• The Heart of Robin Hood – May 15-17, 19-23
• Tamarack Ottawa Race Weekend – May 23-24
• Kanata RibFest – May 23-24
• Taste of Summer & Wine sampling experience – May 28
• Doors Open Ottawa – June 6-7

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!