Number of Sales – up 2.5%
Average Sale Price ($364,077) – up 3.7%
Days on Market – 34 days
New Listings – increased 6%
The Ottawa Real Estate Board reported on May 3 that unit sales increased slightly by 2.5% in April, year over year compared to April last year. The average sale price for April was $364,077 which was an increase of 3.7% over April 2011. The rise in new listings was not matched by a comparable increase in sales which is resulting in a higher listing inventory. The sales to listing inventory ratio remains unchanged from last month indicating that the market is just into seller market territory. The days on market until a home has sold has dropped to 34 days. The absorption rate is at 5.7 months which is virtually unchanged from last month.