The attached charts show a year-over-year analysis of various Ottawa real estate benchmarks. The statistics are based on sales figures released by the Ottawa Real Estate Board on October 4th and include sales of both residential and condominium properties in the Greater Ottawa Area.
# of Sales (1,119) – increase of 12.5%
Avg. Sale Price ($346,342) – decrease of 1.2%
Days on Market = 51 days
New Listings – increase of 3%
Inventory Absorption Rate – 5 months
Sales-to-Inventory Ratio – 16% (Balanced Market)
The Ottawa Real Estate Board reported 1,119 unit sales in September, an increase of 12.5% compared with September 2012. The five year average for the number of sales in the month of September is 1,121 units. The number of new listings taken in the month increased by 3% compared with September 2012. Though unit sales increased the average sale price, at $346,342, was again down from the previous month and also decreased by 1.2% from September 2012. The listing inventory is 8% above September 2012 but is moderating. The sales to listing inventory ratio was at 16% which indicates a balanced market. The market is been in a balanced position eighteen of the past twenty four months The average days on market has increased from last month and is at 51 days. The absorption rate was unchanged at 5 months.