The Ottawa Real Estate Board reported 1,219 unit sales in August, an increase of 6.5% compared with August 2012. The five year average for sales in the month of August is 1,202 units. New listings taken in the month increased very slightly by 1.8% compared with August 2012. Though unit sales increased the average sale price, at $348,519, was down from the previous month and showed a very slight increase of 0.4% over August 2012. The listing inventory is still above last year but has moderated, up 11.7% over levels in August 2012. The sales to listing inventory ratio was at 17% which indicates a balanced market. The average days on market was virtually unchanged from last month, at 45 days.