The Ottawa Real Estate Board reported on June 5, 2012 that unit sales in May were very strong. An increase of 14.3% over May 2011. The average sale price increase only marginally in May to $364,077 which was an increase of 3.4% over May 2011. This shows that the strength in the market is in the low and middle while the higher end market is softer. There was a large increase in new listings, up 21%, but because of the strong sales and the fact that some of the new listing number would be the repositioning of unsold inventory (listings canceled and relisted) the listing inventory increased by only 8% over April 2012. The sales to listing inventory ratio remains in Seller Market territory at 29%. The days on market has dropped very slightly to 33 days. The absorption rate is at 5.4 months which is comparable to last few months. A good but cautious market with strength in some segments and softness in other segments.