Happy September!
Hello Everyone! With Labour Day being late this year and school starting early, the market is a little slower which is typical for the end of August and early September. We are optimistic the Fall market will be steady and Royal LePage forecasts the 4th quarter to be stronger, see the Royal LePage forecast.
It is very important to list your house competitively to houses for sale in your neighbourhood and area. There are unique homes that will be more difficult to price which have been renovated fully and extensions added to the floor plan. Pay attention to mortgage rates to keep your budget up to date. See the article below if you plan to purchase or sell for end of the year.
We believe there are good choices of houses to view and market value should be compared to homes sold in 2026.
As of September 3, the Ottawa Real Estate Board reports 1,002 properties (residential & condominiums) sold in August 2026, a decrease of 18.6% from August 2025. Sales also declined from July (24.4%) reflecting buyers taking more time to make decisions and sellers facing more compeitition. For more market information read our 50 Years of Change and our newsletter.
As we soon admire our forests’ changing colors, 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 in Ottawa? There are many Fall fairs in greater Ottawa area such as the Almonte Fair, Richmond Fair and so many other wonderful fairs. Click here for a list of fairs and details. There is something for everyone!
Please check out Things to do in Ottawa this weekend & Ottawa Tourism for other ideas of activities to enjoy in and around the Ottawa area.
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!
We’re looking forward to enjoying the beautiful fall colours!
Joan, Victoria & Luc
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Mrs. Joan Smith 
The Joan Smith Real Estate Family
Market Update
As of September 3, the Ottawa Real Estate Board reports 1,002 properties (residential & condominiums) sold in August 2026, a decrease of 18.6% from August 2025. Sales also declined from July (24.4%) reflecting buyers taking more time to make decisions and sellers facing more compeitition. Year to date, 9,283 homes have sold in Ottawa, a 6.9% decline from the same time period in 2025. Single family home sales decreased 16.3% year over year, while townhome sales declined 19.9% and apartment sales declined 22.3% from August 2025. There were 4,496 active properties on the market in August, up 11.3% year over year but down 3.9% from July. Year to date 9,283 homes have sold in Ottawa, down 6.9% from the same period in 2025.
The average sale price for homes sold in August 2026 was $683,253, up about a 0.3% when compared to August 2025 and up 0.7% from July. However, the median price was $622,357, down 1.2% from the previous year and down 2% from July. Year to date, Ottawa’s average price was $698,532 (down 0.3%) and the median price was $639,000 (down 1.2%), compared to the same period in 2025.
Single-family average price was $845,113 in August 2026, about a 1% increase from August 2025. Townhomes average price was $529,123 in August, a decrease of 4.7% when compared to August 2025, the median price also declined 5.0% year over year. Apartments average price was $426,930, increasing 4.6% from August 2025 and the median price increased 6.3% year over year.
For Kanata, unit sales in August (all housing types) were 130, translating to approximately a 2.5% decrease when compared with August 2025. For greater Stittsville (includes Stittsville, Richmond, Munster & surrounding area), unit sales in August 2026 (all housing types) were 51 units, a 28.2% decrease compared to August 2026. In Kanata, the average sale price in August 2026 was $697,091 for all housing types (a 2.6% decrease from August 2025). The median days on market was 26 days. For greater Stittsville, the average sale price in August 2026 was $672,974 for all housing types (about a 8.7% decrease from August 2025), the median price was $660,000, about a 1.5% decline from August 2025 and the median days on market was 28 days. (Source: OREB, Residential Market Activity and MLS®Home Price Index (HPI) Report, August 2026, District 90 – Kanata & District 82 – Stittsville – Munster – Richmond)
August residential inventory in Ottawa – The inventory of homes on the market in Ottawa in August increased year over year by 11.3% but down from July by 3.9%. There were 2,119 new listings (all housing types) on the market in August 2026 and 4,496 homes for sale (all housing types). Active inventory in Ottawa remains at it highest August level since 2016. However, monitoring specific neighborhoods, style of homes and latests sales is key for both buyers and sellers, as there is variation across different submarkets.
At the end of August 2026, the sales-to-new-listings ratio declined to 47.3% from 52.4% in July. Ottawa’s inventory of homes (all housing types) rose to 4.5 months (this is the number of months it would take to sell current inventories at the current rate of sales activity), from 3.5 months in July. Again, monitoring investory across property type and region is key. For single family homes was: 4.0 months, up from the previous month of 3.2. Months of Inventory for townhomes was: 4.1 months compared to 3.0 months in July. Months of Inventory for apartments increased to 6.3 months from 5.4 months in July.
Click here to read our Ottawa Market Update June 2026 – 50 Years of Change.
Source: Ottawa Home Sales Pull Back Sharply in August While Prices Hold Steady, OREB
Latest Mortgage Information
Buying or Refinancing Before Year-End? Keep These Things in Mind
It may only be September, but if buying a home, refinancing, or making changes to your mortgage is on your list before the end of 2026, now is a great time to start planning. The last few months of the year tend to go quickly, and getting organized early can help avoid unnecessary surprises or last-minute scrambling.
1. Get Your Documents Organized Early – Mortgage approvals involve more paperwork than they used to. Depending on your situation, you may be asked for the below documents. Having these ready ahead of time can make the process much smoother.
• Recent pay stubs and employment confirmation
• T4s and Notices of Assessment
• Bank or investment statements
• Confirmation of your down payment
• Mortgage statements and property tax information
• Additional documents if you’re self-employed
2. Thinking About Refinancing? Know Your Penalty First – If you’re considering breaking your existing mortgage to consolidate debt, access equity, renovate, or improve cash flow, don’t look at the new rate alone. Your existing lender may charge a prepayment penalty, and that amount can vary significantly depending on your mortgage. Before making a decision, we can look at the complete picture — penalty, new rate, payment, fees and overall savings — to determine whether refinancing actually makes financial sense.
3. Hold Off on New Credit Until We Talk – Thinking about financing a new vehicle, opening a line of credit, increasing credit card balances or taking advantage of a “buy now, pay later” offer? If you’re planning a mortgage application, check with me first. Even a new monthly payment can affect how much mortgage you qualify for. Keeping your credit and finances as consistent as possible before closing is usually the safest approach.
4. Your Down Payment Needs a Paper Trail – Having the money isn’t always enough — we also need to document where it came from. Moving money between accounts, receiving a gift from family, selling investments or transferring large amounts can create additional documentation requirements. If you’re planning to buy before year-end, getting your down payment organized early can save a lot of headaches later.
5. Don’t Forget About Closing Costs – Your down payment isn’t the only cash you’ll need when purchasing a home. Depending on the transaction, you’ll also want to budget for expenses such as legal fees, land transfer tax, adjustments, appraisal costs, moving expenses and other closing costs. Knowing your approximate cash requirement before you start shopping can make the whole process much easier.
6. Refinancing? Your Home’s Value Matters Too – If you’re planning to access equity, the amount available isn’t based only on what you owe. Your home’s current value, existing mortgage balance and lender guidelines all play a role. An appraisal may also be required. Before committing those refinance funds to a renovation, debt payout or another purchase, let’s determine what’s realistically available.
7. Renewing Before Year-End? Don’t Automatically Sign the Renewal – If your mortgage is coming up for renewal, your current lender’s offer is just that — an offer. It’s worth reviewing your options before signing. Depending on your mortgage, you may be able to move to another lender for a better rate or product. This is also a great time to review your amortization, payment frequency, prepayment options and whether your mortgage still fits your plans.
8. December Closings Can Get Busy – Lawyers, lenders, appraisers and other professionals involved in a mortgage transaction can have reduced availability around the holidays. If you’re hoping to close before the end of December, earlier is definitely better. Giving everyone enough time to complete the financing and legal work can make for a much less stressful holiday season.
Thinking About Making a Move Before 2027?
Whether you’re planning to buy, refinance, renew, consolidate debt or access some of your home’s equity, you don’t need to wait until you’re ready to submit an application. Sometimes the best first step is simply running the numbers and putting together a plan.
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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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
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Featured Homes for Sale, Rent & Recently Sold
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Testimonials
We decided to sell our Kanata Lakes home and subsequently purchase another in the Pine Hill Estates community of Bridlewood. We interviewed recommended realtors who specialize in these communities. Joan Smith and her team outshone the others in terms of experience, knowledge, comprehensive preparation and patience. When a few challenges arose inevitably, Joan, Victoria and Luc quickly made themselves available to provide assistance in the form of guidance, options and action. We were impressed by their professionalism and their candid perspectives on the sale and purchase of our residences. We recommend them highly.
Maurice