Ottawa Market Report - March 2026
This Week in the Market
Overall, good homes are still moving quite quickly. Over the past few weeks there were a couple properties that ended up conditionally sold before my clients and I even had the chance to see them.
On the new build side, some builders across Ottawa have started lowering prices to push sales, which is fairly common around Q1. Discounts vary depending on the community. For example, Richcraft’s Pathways community in Findlay Creek currently has some towns and singles discounted roughly $50K–$100K depending on the product, while their Trailsedge community in Orléans is seeing discounts closer to $20K–$70K. Interestingly, Findlay Creek is generally considered the more premium area, which shows that sometimes exploring different communities can lead to deeper savings and a better product.
On the resale side, we listed two homes in the past couple of weeks using our full marketing package. One is about to firm up at 98.5% of asking within 10 days, even though there are about 80 other townhomes competing in that suburb. The other has been on the market for a week and has already had 9 open house visitors and 5 showings, in a segment with around 83 listings where many properties are seeing little to no activity.
It really shows that preparation and proper marketing make a significant difference in today’s market.
The GST Credit for First-Time Buyers
There has been a lot of discussion recently about the proposed GST credit for first-time buyers purchasing new homes, so I wanted to clarify where things currently stand.
Last Thursday the Senate completed the third reading of the bill.
The legislation is now waiting for Royal Assent, which is the final step before it becomes law. Until that happens, the credit is not officially approved and there is still the possibility that changes could be made. Timelines are also still uncertain.
I’ve noticed quite a few headlines, agents, and even some builder representatives speaking about this as if it’s already guaranteed. That’s not technically correct yet.
It’s also important to understand that the approval currently being discussed is only for the federal portion (GST). For buyers to receive the full HST relief, the Ontario provincial portion would still need to be approved separately. That could take additional time.
That said, Doug Ford has publicly indicated that if the federal approval comes through, Ontario would support removing the provincial portion as well.
https://globalnews.ca/news/11498334/ontario-waive-hst-new-homes/
Another thing many buyers don’t realize is that there is already a credit built into the price of most new builds today.
There is currently a rebate that covers about 75% of the HST up to a maximum of $24,000. This rebate has been in place for many years and is usually already baked into the advertised purchase price, which is why most buyers don’t notice it.
So when estimating the potential savings from the proposed credit, you have to account for the rebate that already exists.
Example:
Purchase price: $700,000
Full credits (13%): − $91,000
Current rebate already built into pricing: + $24,000
Net new credit: $67,000
Estimated purchase price after credit: $633,000
The key takeaway is that this credit could be quite meaningful for first-time buyers, but until Royal Assent is granted and the provincial portion is confirmed, it’s best to treat it as a potential bonus rather than making a purchase decision solely based on it.
Real Estate Stats
February market numbers are in, and activity across Ottawa remains relatively stable.
A total of 646 residential properties sold last month (freehold and condominiums combined), representing a modest year-over-year increase of 0.2%.
Freehold homes recorded 432 sales, down slightly by 0.5%.
Condominium sales reached 214 transactions, up 1.4%.
Overall activity remains steady not overheated, but far from quiet.
Price Trends
Freehold homes (detached, semi-detached, and townhomes)
Average price: $768,855 — down 1.9% year-over-year.
Condominiums (apartments, stacked, and row units)
Average price: $419,578 — down 2.1% year-over-year.
We are seeing mild price softening rather than any significant correction.
Days on Market
Freehold homes averaged 34 days on market, compared to 30 days last year.
Condominiums averaged 54 days, compared to 48 days last year.
Properties are taking slightly longer to sell, particularly in the condominium segment, as buyers continue to be selective and conditions have become more common.
Inventory
There were 1,243 residential properties active on the market at the end of February.
With 646 homes sold relative to 1,243 new listings, the sales-to-new-listings ratio sits at approximately 52%.
This places Ottawa firmly within balanced market territory.
Featured Homes of the Week
Handpicked properties worth your attention right now.
Bungalow style condo townhome in Stittsville
Lower unit closing in 2027. Option to finish the basement adding roughly 1,000 sq ft, an additional bedroom, bathroom, and large living area.
Total price with the basement finished would be around$450K.
Rental rates in the area are approximately$2,500/month.
Also a great option if you’re downsizing or looking for one-level living. A standout opportunity.
$399,900 • 2 Bed • 1 Bath • 1153 sq ft
Findlay Creek New build Townhome
Closing in 14 weeks. The Kenora — Richcraft’s second most popular model.
Originally priced at $705K, now discounted by nearly $40K (before any additional credits).
Open-concept main floor with a work-from-home den, plus a second-floor loft for extra living space.
$665,948 • 3 Bed • 2.5 Bath • 2150 sq ft
Thinking About Your Next Move?
Whether you are buying, selling, or investing, our team at Gusinjac Group is here to guide you with local expertise and data-driven insight.
Request a Free Market Consultation
How we can help:
Tailored home searches based on your must-haves and budget
Strategic listing plans to help your property stand out
Investment analysis using a pro forma with rental and appreciation potential that is real and not hopeful
Ron Gusinjac
Realtor®,
Engel & Völkers Ottawa Central
