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- Sales to active listings = 23% for April 2018, compared to 38% in March 2018 and 43% in April 2017.
**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:
Detached: April 2018 = $1.68M, that’s $153k higher than April 2017.
Townhomes: April 2018 = just under $1.1M, that’s $218k higher than April 2017.
Condos: April 2018 = $596k, that’s $166k higher than April 2017.
- In the last 30 days 62% of properties sold for under the list price, 24% sold over asking and 14% at list price.
- Average days on the market for April was 62.