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- Number of active listings continues to drop with just 128 in Jan 2018.
- Sales to active listings = 42% for Jan 2018, compared to 32% in Dec 2017 and 23% in Jan 2016.
- **This ratio is calculating the monthly sales compared to the total # of listings, basically if there were no other listings how long would it take for the listings to run out. At 40% it would take less than 2.5 months.
- Referencing this statistic: <12% is a buyers market and puts downward pressure on price, between 12%-20% is a balanced market with no pressure on price, >20% is a sellers market with upward pressure on price.
- HPI Benchmark Price:
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- Detached: Jan 2018 = $1.68M, that’s $261k higher than Jan 2017.
- Townhomes: Jan 2018 = $914k, that’s $105k higher than Jan 2017.
- Condos: Jan 2018 = $533k, that’s $131k higher than Jan 2017.
- In the last 30 days 61% of properties sold for under the list price, 13% sold over ask and 26% at list price.