Ottawa Real Estate Market – October 2014

by Debra Cherry
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Ottawa Real Estate Statistics

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

The facts:
# of Sales (1,121) –  increase of 2.9%
Avg. Sale Price ($355,813) – decrease of -1.2%
Days on Market = 53 days
Cumulative Days on Market = 88

New Listings = increase of 2%
Inventory Absorption Rate –  5 months
Sales-to-Inventory Ratio – 15%  (Balanced Market)

Average Sale Price to Average List Price Ratio – 97%

The Ottawa Real Estate Board reported 1,121 unit sales in the month of October, an increase of 2.9% over October 2013. Weak sales of condominium units was bolstered by a surge in sales of residential units. The five year average for the number of sales in the month of October is 1,076 units . The number of new listings taken in the month increased by 2% over last year.  This month the average sale price decreased slightly.  Now at $355,813, it was down by 1.2% from last October and down 6.6% from the peak in May.  The average sale price to average list price ratio was at 97%.  The sales to listing inventory ratio was at 15% which indicates a balanced market. The average days on market was the same as the previous month at 53 days.  The absorption rate is at 5 months.

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