The Ottawa Real Estate Board reported an increase in unit sales in July by 3.4% over July 2011. This is in line with the five year historical average for sales in the month of July (1,360). The average sale price was $337,518, a small decrease of 1.2% compared to July 2011. New listings were down from the previous month but up from July 2011 and the listing inventory was also down from June but up from July 2011. The sales to listing inventory ratio dropped from seller’s market territory to 21%, which indicates a Balanced Market. The days on market increased to 40 days for a home to sell on MLS.