A steady undercurrent of demand continues to support Ottawa’s luxury housing market, with homebuying activity holding consistent throughout the first four months of 2026. Residential sales above the $1.5-million price point edged up approximately 17 per cent year-over-year, with 94 properties changing hands between January 1 and April 30, 2026. Momentum has strengthened as the delayed spring market gains traction, with more than 200 luxury sales already recorded in May alone. Momentum has strengthened as the delayed spring market gains traction, with more than 200 luxury sales already recorded in May alone.
Strength at the upper end
Ottawa has continued to perform well at higher price points, supported by the city’s deep pool of senior government officials, embassy personnel, executives and entrepreneurs. While activity has remained concentrated at the entry/mid-level price points of luxury—approximately 70 per cent of all sales occurred between $1.5 million and $2 million—transactions above $2 million have posted more moderate gains. The most expensive residential sale reported so far this year exceeded $4 million.
Inventory levels have expanded, with almost 300 properties currently listed above the $1.5 million threshold. Yet supply remains constrained in several of Ottawa’s most desirable neighbourhoods. Well-priced homes in walkable urban communities such as The Glebe, Golden Triangle, Westboro and Old Ottawa South continue to attract strong interest and can sell within days of listing. Demand has also remained healthy in estate-oriented suburban enclaves such as Manotick and Greely, where larger lots and greater privacy appeal to affluent buyers.
While geopolitical tensions and the federal foreign buyer ban have tempered activity among international purchasers, local demand has continued to underpin the market. Increasingly, buyers are seeking homes that accommodate evolving family needs, including multi-generational living arrangements. Properties with secondary suites, flexible layouts and space for extended family members have drawn renewed interest as families have pooled resources and prioritized long-term housing solutions.
Demographic shifts have also influenced market dynamics. As Ottawa’s population ages, more luxury homeowners are choosing to downsize, bringing a growing number of premium properties to market. Many have transitioned to upscale condominiums within their communities that offer a maintenance-free lifestyle and amenities such as fitness facilities, pools and heated underground parking. Others have opted for bungalow living or have relocated to waterfront and recreational properties in areas such as Britannia, Crystal Beach, Dunrobin and the many surrounding lakes including Big Rideau.
Today’s luxury buyers are increasingly equity-rich millennials between the ages of 30 and 45, many of whom have been moving up as their housing needs evolve. However, finances have remained top of mind in today’s market, with fewer buyers willing to make home purchases at the approved maximum price point.
Economic stability underpins outlook
Ottawa’s long-term outlook remains favourable. The city added more than 80,000 residents through international and interprovincial migration between July 2023 and July 2025, according to Statistics Canada Annual Demographic Estimates, Census Metropolitan Areas, and Census Agglomerations, strengthening the buyer pool and propping up housing demand. Combined with the stability provided by the federal government, a growing technology sector and a relatively resilient labour market, these fundamentals should support gradual gains in luxury sales activity through 2026, with stronger momentum likely to emerge as consumer confidence improves.
