Ottawa Real Estate Board Report

The Ottawa Real Estate Board reported 1,203 unit sales in the month of August, a decrease of 1.1% over August 2013.  This is slightly above the five year average for the number of sales during the month of August.  The number of new listings increased during the month of August and represents a 12 % increase over last year.  This past month the average sale price increased, now at $ 360,214 which represents an increase of 3.4% from last August.  The average sale price to average list price ratio is 97%.  The sales to listing inventory ratio is entering into a buyer’s market range.  The average days on market was up from the previous month to 51 days.