We directly model the quantum many particle dynamics during the transition of a gas of N indistinguishable bosons into a Bose-Einstein condensate. To this end, we develop a quantitative quantum master equation theory, which takes into account two body interaction processes, and in particular describes the particle number fluctuations characteristic for the Bose-Einstein phase transition. Within the Markovian dynamics assumption, we analytically prove and numerically verify the Boltzmann ergodicity conjecture for a dilute, weakly interacting Bose-Einstein condensate. The new physical bottom line of our theory is the direct microscopic monitoring of the Bose-Einstein distribution during condensate formation in real-time, after a sudden quench of the non-condensate atomic density above the critical density for Bose-Einstein condensation.