The statistics are based on sales figures released by the Ottawa Real Estate Board on March 5th and include sales of both residential and condominium properties in the Greater Ottawa Area.
# of Sales (914) – decrease of 9.3%
Avg. Sale Price ($346,774) – decrease of 1.1%
Days on Market = 45 days
New Listings – increase of 1%
Inventory Absorption Rate – 6.5 months
Sales-to-Inventory Ratio – 17% (Balanced Market)
The Ottawa Real Estate Board reported 914 unit sales in February which was a decrease of 9.3% over February 2012. The five year average for sales in the month of February is 967 units. New listings for the month were higher than the previous month and increased 1% over February 2012. The average sale price in February was at $346,774, a slight decrease of 1.1% from February 2012. The listing inventory increased from the previous month and is up compared to February 2012. The sales to listing inventory ratio was at 17% which indicates a buyers market. The days on market decreased to 45 days and the absorption rate has increased to 6.5 months.