The statistics are based on sales figures released by the Ottawa Real Estate Board on May 3rd and include sales of both residential and condominium properties in the Greater Ottawa Area.
Number of Sales (1,573) – increase of 0.3%
Average Sale Price ($371,565) – increase of 2.1%
Days on Market = 39 days
New Listings – increase of 14.8%
Sales-to-Inventory Ratio – 22% (Balanced Market)
The Ottawa Real Estate Board reported 1,573 unit sales in April which is a slight increase of 0.3% compared with April 2012. The five year average for sales in the month of April is 1,620 units. The stronger sales level was balanced by an increased number of listings coming on the market which is keeping prices in check. New listings for the month jumped by 14.8% compared with April 2012 but some of this can be accounted for by the practice of canceling and relisting stale listings at this time of the year. The average sale price in April was at $371,565, an increase of 2.1% over 2012. The listing inventory continues to grow modestly but steadily being up 15.6% over levels in April 2012. The sales to listing inventory ratio was at 22% which indicates a balanced market. The days on market decreased slightly to 39 days and the absorption rate has increased slightly to 7.4 months.