The Ottawa Real Estate Board reported 1,339 unit sales in July, a decrease of 2.7% compared with July 2012. The five year average for sales in the month of July is 1,347 units. New listings taken in the month increased slightly by 3.9% compared with July 2012. The average sale price in July was at $359,551 an increase of 6.6% over 2012. The listing inventory continues to grow up 14.5% over levels in July 2012. The sales to listing inventory ratio was at 18% which indicates a balanced market. Properties are taking longer to sell evidenced by the average days on market increased to 45 days.