The statistics are based on sales figures released by the Ottawa Real Estate Board on January 7th and include sales of both residential and condominium properties in the Greater Ottawa Area.
The facts:
# of Sales (610) -  decrease of 1%  
Avg. Sale Price ($340,021) - increase of 0.9% 
Days on Market = 61 days
New Listings - decrease of 2%  
Inventory Absorption Rate -  4.7 months 
Sales-to-Inventory Ratio - 13%  (Buyer’s Market) 

The Ottawa Real Estate Board reported 610 unit sales in the month of December, a decrease of 1% compared with December 2012. The five year average for the number of sales in the month of November is 646 units. The number of new listings taken in the month decreased by 2% compared with December 2012.  The average sale price increased.  At $340,021, it was up by 1% from December 2012 but was down from the previous month.  The listing inventory is up slightly at 3.5% above December 2012.  The sales to listing inventory ratio was at 13% which indicates a buyer’s market. The average days on market is showing longer selling times as it  increased to 61 days.  The absorption rate was unchanged at 5 months indicating that the listing inventory is still in balance with demand.  Year over year the average sale price increased by 1.6%.

By; Rick SnellBroker/Manager
Royal Lepage Team Realty