Number of Sales (602) – decrease of 11.7%
Avg. Sale Price ($342,458) – decrease of 1.8%
Days on Market – 55 days
New Listings – increase of 15%
Inventory Absorption Rate – 5.5 months
Sales-to-Inventory Ratio – 12% (Buyer’s Market)
The Ottawa Real Estate Board reported 602 unit sales in January which was a decrease of 11.7% over January 2012. The five year average for sales in January is 667 units. New listings for the month was higher than the previous month and increased 15% over January 2012. The average sale price in January was at $342,458, a slight decrease of 1.8% from January 2012. The listing inventory increased from the previous month and is up 15% over January 2012. The sales to listing inventory ratio was at 12% which indicates a buyers market. The days on market increased to 55 days and the absorption rate has increased to 5.5 months.