The statistics are based on sales figures released by the Ottawa Real Estate Board on June 5th and include sales of both residential and condominium properties in the Greater Ottawa Area.
The Ottawa Real Estate Board reported 1,804 unit sales in May, a decrease of 4.6% compared with May 2012. The five year average for sales in the month of May is 1,802 units. New listings taken in the month increased slightly by 5.5% compared with May 2012. The average sale price in May was at $370,501an increase of 2.1% over 2012. The listing inventory continues to grow steadily being up 17.5% over levels in May 2012. The sales to listing inventory ratio was at 23% which indicates a balanced market. The days on market increased slightly to 40 days.