The statistics are based on sales figures released by the Ottawa Real Estate Board on July 5th and include sales of both houses and condominiums in the Greater Ottawa Area.
# of Sales (1,660) – decrease 3.4%
Avg. Sale Price ($352,800) – down .1%
Days on Market = 35 days
New Listings – increase 1.3%
Inventory Absorption Rate – 4.7 months
Sales-to-Inventory Ratio – 26% (Seller’s Market)
The Ottawa Real Estate Board reported a decrease in unit sales in June by 3.4% from June 2011. June sales were down from an very strong month in May but are in line with the five year historical average for sales in the month of June (1,690). The average sale price was $364,077 which is virtually the same as last year, just a small decrease of 0.1% compared to June 2011. New listings were down from the previous month but up slightly over June 2011 and the listing inventory was down as well compared to May but up (6%) over June 2011. The sales to listing inventory ratio dropped slightly but remains just into Seller Market territory at 26%. The days on market increased to 35 days and the absorption rate dropped to 4.7 months. A traditional stable Ottawa real estate market within historical norms.