Ottawa Real Estate Market – August 2014

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Ottawa Real Estate Statistics

The statistics are based on sales figures released by the Ottawa Real Estate Board on September 4th and include sales of both residential and condominium properties in the Greater Ottawa Area.

The facts:
# of Sales (1,203) –  decrease of 1.1%
Avg. Sale Price ($360,214) – increase of 3.4%
Days on Market = increased to 51 days
Cumulative Days on Market = 82

New Listings = increase of 12%
Inventory Absorption Rate –  6 months
Sales-to-Inventory Ratio – 15%  (Balanced Market)

Average Sale Price to Average List Price Ratio – 97% 

The Ottawa Real Estate Board reported 1,203 unit sales in the month of August, a decrease of 1.1% over August 2013. This is slightly above the five year average for the number of sales in the month of August which is 1,199 units . The number of new listings taken in the month increased by 12% over last year.  This month the average sale price increased. Now at $360,214 it was up by 3.4% from last August.  The average sale price to average list price ratio is at 97%. The listing inventory continues to grow it was up 2% over last August’s level.  New listings increased as well, up 12% over that of August 2013.  The sales to listing inventory ratio was at 15% which indicates a balanced market but entering buyer’s market range. The average days on market was up from the previous month to 51 days.  The absorption rate is at a very normal and stable rate of 6 months.

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