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February 2019 Stats:
Sales to active listings = 10% for February 2019, looking back at February 2018 that figure was 39%.
Breaking that down into property types: Detached homes = 8%, Condos = 15%, and Townhomes = 8%.
- **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.
- 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: Feb 2019 = $1.75M, that’s $9k more than Feb 2018.
- Townhomes: Feb 2019 = $879k, that’s $7k lower than Feb 2018.
- Condos: Feb 2019 = $496k, that’s $50k less than Feb 2018.
In the last 30 days 91% of properties sold for under the list price, 3% sold over asking and 6% sold at list price.
Average days on the market for February was 44.