Ottawa Real Estate Statistics

The Ottawa Real Estate Board reported 610 unit sales in the month of December, a decrease of 1% compared with December 2012. The five year average for the number of sales in the month of November is 646 units. The number of new listings taken in the month decreased by 2% compared with December 2012.  The average sale price increased.  At $340,021, it was up by 1% from December 2012 but was down from the previous month.  The listing inventory is up slightly at 3.5% above December 2012.  The sales to listing inventory ratio was at 13% which indicates a buyer’s market. The average days on market is showing longer selling times as it  increased to 61 days.  The absorption rate was unchanged at 5 months indicating that the listing inventory is still in balance with demand.  Year over year the average sale price increased by 1.6%.