Happy August!
Mid August already, hard to believe how fast the summer is moving along! But still time to enjoy our beautiful City parks and trails for a cycle, walk, picnic and more.
The Ottawa real estate market is still tiptoeing along, some areas are stronger than others. Supply of homes is good, giving buyers choice and generally being able to proceed at their pace. Royal LePage is optimistic that the fall market will stay on track and that Ottawa will have a positive gain in the fall.
As of July 6, the Ottawa Real Estate Board reports 1,325 properties (residential & condominiums) sold in July 2026, an increase of 0.2% year over year but down from June as we transitioned into the summer. The theme of differences across neighborhoods and style of homes continues, making it important to understand local neighborhoods, their supply of homes and types. Year to date, 8,288 homes have sold, a 5.2% decline from the same time period in 2025. There were 4,099 active properties on the market in July, up 14% year over year. The average sale price for homes sold in July 2026 was $683,308, about a 1.6% decrease when compared to July 2025. However, the median price was $635,000, remaining flat from July 2025. Year to date, Ottawa’s average price was $699,761 (down 0.4%) and the median price was $640,000 (down 1.5%), compared to the same period in 2026. For more market information read our 50 Years of Change and our newsletter.
This month we continue to support Forests Canada and their efforts on forest recovery. From cultivating high-quality tree seeds and advancing science-based restoration efforts to rebuilding critical forest ecosystems and educating Canada’s future environmental leaders
Looking for things to do and enjoy Ottawa please check out Things to do in Ottawa this weekend & Ottawa Tourism
It is always nice to hear from you and what you have been up to. Feel free to call or email and it doesn’t have to be about real estate!
Enjoy the rest of the summer!
Joan, Victoria & Luc
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@JoanSmithRealEstateFamily 
Mrs. Joan Smith 
The Joan Smith Real Estate Family
Market Update
As of August 6, the Ottawa Real Estate Board reports 1,325 properties (residential & condominiums) sold in July 2026, an increase of 0.2% from July 2025. Sales did decline from June (12.7%) as the summer took hold but activity was stronger than recent June-to-July transitions. However sales and buying activity continues to vary by type of property and neighborhood. Year to date, 6,969 homes have sold, a 6.1% decline from the same time period in 2025. Single family home sales increased 5% year over year, while townhome sales declined 4.1% and apartment sales declined 4.1% from July 2025. There were 4,678 active properties on the market in July, up 9.3% year over year but down 6.1% from June. Year to date 8,288 homes have sold in Ottawa, down 5.2% from the same period in 2025.
The average sale price for homes sold in July 2026 was $683,308, down about a 1.6% when compared to July 2025. However, the median price was $635,000, remaining flat from July 2025. Year to date, Ottawa’s average price was $699,761 (down 0.4%) and the median price was $640,000 (down 1.5%), compared to the same period in 2025.
Single-family average price was $824,769 in July 2026, about a 2.9% decrease from July 2025. Townhomes average price was $543,061 in July, a decrease of 3.2% when compared to July 2025, the median price also declined 5.3% year over year. Apartments average price was $430,086, down 0.2% from July 2025 and the median price was down 5.1% year over year.
For Kanata, unit sales in July (all housing types) were 117, translating to approximately a 6.4% decrease when compared with July 2025. For greater Stittsville (includes Stittsville, Richmond, Munster & surrounding area), unit sales in July 2026 (all housing types) were 72 units, 18.2% decrease compared to July 2026. In Kanata, the average sale price in July 2026 was $714,703 for all housing types (a 2.2% increase from July 2025). The median days on market was 29 days. For greater Stittsville, the average sale price in July 2026 was $769,939 for all housing types (about a 2.5% decrease from July 2025), the median price was $710,000, about a 1.0% decline from July 2025 and the median days on market was 29 days. (Source: OREB, Residential Market Activity and MLS®Home Price Index (HPI) Report, July 2026, District 90 – Kanata & District 82 – Stittsville – Munster – Richmond)
July residential inventory in Ottawa – The inventory of homes on the market in Ottawa in July increased. There were 2,530 new listings (all housing types) on the market in July 2026. In July 2026, there were 4,678 homes for sale (all housing types), a 9.3% increase when compared to July 2025. Continuing to give buyers choice and time. However, supply does vary by style of home and neighborhood. Pricing and home presentation are fundamental for sellers looking to sell in a reasonable time and for good dollars. For purchasers, monitoring specific neighborhoods and latest sales in the neighborhood are key to a successful purchase.
At the end of June 2026, Ottawa market remains stable with a sales-to-new-listings ratio of 52.4, up from 48.8% in June. Ottawa’s inventory of homes (all housing types) is 3.5 months (this is the number of months it would take to sell current inventories at the current rate of sales activity), up from 3.3 months in June. However months of inventory varies across property type and region. For single family homes was: 3.2 months, up from the previous month of 2.8. Months of Inventory for townhomes was: 3.0 months compared to 3.2 months in June. Months of Inventory for apartments increased to 5.4 months from 5.3 months in June.
Click here to read our Ottawa Market Update June 2026 – 50 Years of Change.
Source: Ottawa Home Sales Hold Steady as New Listings Ease in July
Latest Mortgage Information
Buying a Home in Ontario? Don’t Forget About Closing Costs!
The down payment isn’t the only upfront cost. When most people start planning to buy a home, they focus on saving for the down payment—and understandably so. It’s one of the largest upfront expenses and plays a big role in determining how much home you can afford. But there’s another important piece of the puzzle that often catches buyers by surprise…Closing costs.
These additional expenses are typically due on or before your closing day, and if you haven’t planned for them, they can create unnecessary stress just when you’re getting ready to move into your new home.
💰 What Are Closing Costs?
Closing costs are the expenses you pay in addition to your down payment to complete the purchase of your home. They can include:
- Land Transfer Tax
- ⚖️ Legal Fees & Disbursements
- 🛡️ Title Insurance
- 🏠 Home Inspection
- 📋 Appraisal Fees (if required)
- 💲 Property Tax & Utility Adjustments
- 🚚 Moving Expenses
- 🔌 Utility & Internet Setup
A good rule of thumb – Plan to budget approximately 1.5%–4% of the purchase price for closing costs.
Why Planning Ahead Matters
Many buyers save enough for their minimum down payment but forget about the additional funds required at closing. Without proper planning, buyers can find themselves scrambling to cover: Legal fees, Land transfer tax, Moving costs, Property tax adjustments, Other closing expenses.
Lenders also want to see that you have enough funds available for both your down payment and your closing costs, making budgeting an important part of the mortgage approval process.
📍 Ontario Land Transfer Tax
For many Ontario buyers, this is the largest closing cost – The amount is based on the purchase price of the property using Ontario’s graduated tax rates, meaning the tax increases as the home’s value increases.
First-Time Buyer Benefit – Eligible first-time home buyers may qualify for an Ontario Land Transfer Tax Refund of up to $4,000, which can significantly reduce—or even eliminate—the provincial land transfer tax on some purchases.
⚖️ Legal Fees & Title Insurance
Every home purchase requires a real estate lawyer to: Register your mortgage, Transfer ownership, Coordinate funds, Complete the legal paperwork, Ensure everything closes properly. Most purchases also include Title Insurance, which protects against certain ownership or registration issues that may arise after closing. Your lawyer will explain these costs before closing.
🏠 Home Inspection & Appraisal
While not every purchase requires these expenses, it’s wise to budget for them. A home inspection can identify potential issues before your purchase becomes firm, helping you make a more informed decision.
Some lenders require an appraisal to confirm the property’s value. Depending on the lender, this cost may be covered—or it may be paid by the buyer.
💲 Closing Adjustments
Another expense many buyers don’t expect is adjustments. If the seller has prepaid expenses like: Property taxes, Condo fees, Utilities. You may need to reimburse them for the portion covering the time after you take possession. Your lawyer calculates these adjustments before closing.
🚚 Don’t Forget Moving Costs
Remember to budget for: Professional movers or truck rental, Packing supplies, Cleaning, Utility hookups, Internet installation, Minor repairs. These costs aren’t technically “closing costs,” but they’re absolutely part of the overall cost of moving into your new home.
💵 How Much Should You Budget?
As a general guideline: Purchase Price | Estimated Closing Costs
- $500,000 Home → $7,500–$20,000
- $600,000 Home → $9,000–$24,000
- $800,000 Home → $12,000–$32,000
Your actual costs will depend on factors such as: Whether you’re a first-time buyer, Land transfer tax eligibility, Condo vs. freehold, Property tax adjustments, Appraisal requirements, Location, Moving expenses. Every purchase is different.
🌟 First-Time Buyers: Plan Early
Many first-time buyers spend years saving for a down payment, only to discover there are additional costs just before closing. Planning ahead means: less stress, no last-minute surprises, a clearer understanding of your true budget and more confidence when making an offer.
Reni McNeil
Mortgage Brokers Ottawa
Apply online: www.renimcneil.ca
renim@mortgagebrokersottawa.com
License: 11759
Disclaimer: The information above is intended as a general overview of the current federal and Ontario GST/HST rebate programs. Eligibility depends on your individual circumstances, the purchase price, occupancy requirements, and the terms of your Agreement of Purchase and Sale. Always consult your realtor, real estate lawyer and tax professional for advice specific to your situation.
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Buying a Home
We know the Ottawa real estate market and have the expertise to help you find your new home in the neighbourhood suited to your lifestyle!
Buyer Resources
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!
Featured Homes for Sale, Rent & Recently Sold
We would be happy to answer any of your questions about these beautiful homes, the greater Ottawa real estate market and market activity in specific neighborhoods.
Testimonials
I had a great experience working with the Joan Smith Real Estate Family for both the sale of my rural estate property and the purchase of a new home. From start to finish, Joan, Victoria, and Luc demonstrated outstanding professionalism, deep market knowledge, and an unwavering commitment to our best interests. Joan’s advice on the sale process led to a favourable outcome, their expertise made the entire process seamless. The advice and professional staging services they provided were invaluable in presenting my home beautifully and securing a successful sale.
On the buying side, Victoria was incredibly patient and accommodating. She was always prompt in arranging viewings across the city whenever a new listing caught our eye, and we never felt rushed or pressured to make a quick decision. What we appreciated most was her sharp eye for detail—she routinely pointed out potential issues and areas that might not be up to code, ensuring we made a fully informed decision,.
If you are looking for a dedicated, knowledgeable, and honest real estate professional who truly puts their clients first, I highly recommend the Joan Smith Family.
Sincerely
Anna