Ottawa Real Estate Market – September 2014

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Ottawa Real Estate Statistics

The statistics are based on sales figures released by the Ottawa Real Estate Board on October 3rd and include sales of both residential and condominium properties in the Greater Ottawa Area.

The facts:
# of Sales (1,133) –  increase of 1.3%
Avg. Sale Price ($356,915) – increase of 3%
Days on Market = 53 days
Cumulative Days on Market = 85

New Listings = increase of 6.5%
Inventory Absorption Rate –  6 months
Sales-to-Inventory Ratio – 14%  (Buyer’s Market)

Average Sale Price to Average List Price Ratio – 96.8%

The Ottawa Real Estate Board reported 1,133 unit sales in the month of September, this is a small increase of 1.3% over September 2013. The five year average for the number of sales in the month of September is 1,103 units . The average sale price increased by 3% over last September and was at $356,915.  New listings taken in the month increased by 6.5% over last year.  Inventory levels are consistently but modestly higher over 2013, by 10.5%.  The sales to listing inventory ratio was at 14% which indicates a buyer’s market. The average days on market was up from the previous month to 53 days.  The absorption rate is at a very normal and stable rate of 6 months.

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