Staying in Touch April 2026 Newsletter

Happy April & Spring!

It is always interesting to try and interpret the spring real estate market in Ottawa. The supply of homes on the market is coming as our weather gets warmer. Buyers are definitely viewing properties and open houses are being attended. I believe we will start to see more results, patience is important plus accurate pricing and presentation.

Overall in March, 1,075 properties (residential & condominiums) sold, down 4.7% year over year but better than February’s 6.8% decline, signaling that demand is increasing as Spring arrives. Year to date, 2,474 homes have sold, a 5.7% decline from 2025. However, sales continue to differ across types of homes. In March single family homes unit sales recorded 562 sales, unchanged year over year and stronger than February’s 358 unit sales. The average sale price for homes sold in March 2026 was $692,584, about a 0.9% increase when compared to March 2025. Ottawa’s inventory of homes (all housing types) is 3.3 months, down from 4.0 months of inventory in February 2026. However months of inventory varies across property type. For more market information read our 50 Years of Change and our newsletter.

With the latest changes for First-time home buyers’ (FTHB) with the GST/HST rebate for newly constructed homes, there is a lot of excitement. Please keep in mind that we can assist you with both new and resale home purchases, learn more about our services for new homes.

This month we’ve included:

• An Update on the Ottawa market and Mortgage information: Why Waiting for Lower Home Prices or Interest Rates May Cost You More
• Articles: How to Find the Right Neighborhoood, How to Update an Aging Home?, How to Make the Home Hunting Process Easier?
• Community events to enjoy in our city including games of our local hockey teams (Kanata Blazers Minor Hockey, Ottawa 67s, Ottawa Charge & Ottawa Senators)

We celebrate Earth month and Earth Day on April 18th and continue to support Forests Canada. With the sale and purchase of every home that we assist with, we make a donation to this organization on our clients’ behalf.

No matter your real estate goals this season, please feel free to reach out anytime. We are happy to offer guidance or just chat about your options. If you know anyone else who is thinking about making a move this spring, we would be glad to assist them as well.

Joan, Victoria & Luc

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

Market Update

As of April 8, the Ottawa Real Estate Board reports 1,075 properties (residential & condominiums) sold in March 2026, down 4.7% year over year but better than February’s 6.8% decline, signaling that demand is increasing as Spring arrives. Year to date, 2,474 homes have sold, a 5.7% decline from 2025. However, sales continue to differ across types of homes. In March single family homes unit sales recorded 562 sales, unchanged year over year and stronger than February’s 358 unit sales.

The average sale price for homes sold in March 2026 was $692,584, about a 0.9% increase when compared to March 2025. The median price was $642,000, a decline of 0.5% year over year. Year to date, Ottawa’s average price was $670,360 (-0.9%) and the median price was $625,000 (-1.1%). These numbers show modest improvements compared to February 2026.

Single-family sales average price was $845,006 in March 2026, a decrease of 0.5% compared to March 2025. Townhomes average price was $562,513  in March, an increase of 0.7% when compared to March 2025. Apartments average price was $401,656, down 6.1% from March 2025.

However, the MLS^® Home Price Index (HPI), which adjusts for the mix of homes sold, shows that Benchmark prices rose month over month in the composite, single family and apartment segments, townhomes remained stable.

For Kanata, unit sales in March (all housing types) were 113, translating to approximately a 15.0% decrease when compared with March 2025. For greater Stittsville (includes Stittsville, Richmond, Munster & surrounding area), unit sales in March 2026 (all housing types) were 56 units, about a 21.1% decrease from March 2025. In Kanata, the average sale price in March 2025 was $700,771 for all housing types (a 1.5% decrease from March 2025), and the median days on market was 18 days. For greater Stittsville, the average sale price in March 2026 was $751,089 for all housing types (about a 5.8% decrease from March 2025) and the median days on market was 23.5 days.  (Source: OREB, Residential Market Activity and MLS^®Home Price Index (HPI) Report, March 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 March 2026, Ottawa’s inventory of homes (all housing types) is 3.3 months, down from 4.0 months of inventory in February 2026 (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: 3.0 months, down from the previous month of 4.0. Months of Inventory for townhomes was: 2.8 months compared to 2.7 months in February. Months of Inventory for apartments decreased to 5.5 months from 5.6 months in February.

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

Source: Spring Momentum Builds as Ottawa Market Begins Catching Up with Supply, OREB, April 8, 2026

Latest Mortgage Information

Why Waiting for Lower Home Prices or Interest Rates May Cost You More

Many buyers today are asking the same question: “Should I wait for home prices or interest rates to drop before buying?” While it may feel safer to wait for the “perfect time,” the reality is that timing the housing market is extremely difficult—and waiting can often end up costing more in the long run.

The Market Moves Quickly When Rates Drop

When interest rates decline, buyer demand typically increases almost immediately. Lower borrowing costs allow more people to qualify for mortgages, which means more buyers competing for the same homes. This increased demand often pushes home prices higher, sometimes very quickly. Buyers who were waiting on the sidelines suddenly enter the market at the same time, leading to bidding wars and reduced negotiating power. In many cases, buyers who purchased earlier at a slightly higher rate actually secured a lower purchase price and avoided the intense competition that comes when rates fall.

You Can Refinance a Rate — But Not the Purchase Price

One of the most important things to remember is that interest rates are temporary, but the purchase price is permanent. If rates decrease in the future, homeowners often have the option to refinance their mortgage and reduce their monthly payment. However, if home prices increase while you’re waiting, you cannot go back and buy the same property at yesterday’s price. Buying sooner can allow you to secure today’s price and potentially refinance later if rates improve.

Real Estate Historically Appreciates Over Time

While the market may fluctuate in the short term, Canadian real estate has historically shown strong long-term growth. Waiting for a significant drop in home prices can be risky because it assumes a large correction will occur—and that you’ll be able to act at exactly the right moment. In reality, prices often stabilize or begin rising again before many buyers realize the market has shifted. Over time, homeowners typically benefit from appreciation, equity growth, and the stability of owning their property.

Waiting Can Mean Higher Costs Later

If both home prices and buyer demand increase, waiting can result in:

• Higher purchase prices
• More competition from other buyers
• Larger required down payments
• Less negotiating power

In other words, waiting for the market to improve may actually make buying more expensive and more difficult.

The Right Time to Buy Is When You’re Financially Ready

Rather than trying to predict interest rate movements or market timing, the most important factor is whether buying fits your personal financial situation. If you have stable income, a comfortable down payment, and a home that fits your needs, entering the market sooner can allow you to start building equity and benefit from potential appreciation.

Final Thought

Trying to perfectly time the housing market is nearly impossible—even for professionals. Many buyers find that time in the market is more valuable than timing the market. If you’re considering purchasing a home and want to explore your options, getting a clear understanding of your mortgage choices and affordability can help you make a confident decision—regardless of where interest rates move next.

Have any questions? Please contact Reni McNeil – Mortgage Agent with Mortgage Brokers Ottawa.

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

1611 Landel Drive, Marchvale Estates, Kanata North

In the Community

We celebrate Earth month and Earth Day on April 18th and continue to support Forests Canada. 

With the sale and purchase of every home that we assist with, we make a donation to this organization on our clients’ behalf.

Please join us in supporting Forests Canada if you can.

Cleaning the Capital Program

The Cleaning the Capital campaign is a citywide cleanup that occurs in the spring and fall of every year. Residents come together as a community and combine efforts to make our city clean and green. Litter pickup projects must be registered, and participating teams, upon request, receive a cleanup starter kit to assist them with their projects.

Things to Do in April 2026

• Spring Festivals in Ottawa – Throughout April
• Spring Cleaning the Capital – Visit link for important dates
• Ottawa Cottage Life & Backyard Show – April 10-12
• Jazz Night Out – April 14
• 613flea – April 18
• Landsdowne Farmers’ Market – Sundays till April 26
• Valleyview Little Animal Farm – Weekends in April
• Outdoor and Adventure Travel Show – April 25-26
• Atletico Ottawa – April 26
• Canadian Tulip Festival – May 8-18

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!