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Sales to active ratio:
- May 2020 Overall = 10%
- Detached homes = 12%
- Condos = 5%
- Townhomes = 13%
- Same as last month = 10%
- Lower than May 2019 = 19%
- Lower than the 5yr May average = 32%
- Lower than 10yr May average = 22%
**Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- May 2020 Sales = 22
- Higher than last month = 20
- Lower than May 2019 = 51
- Lower than 5 yr avg = 67
- 67% lower than 5 yr avg
- Lower than 10 yr avg = 55
- 60% Lower than 10 yr avg
Inventory:
- May 2020 = 223
- More than last month = 200
- Less than May 2019 = 272
- Same as the 5 yr avg = 223
- Lower than the 10 yr avg = 306
In a nutshell:
The feeling in the market is busy right now. The stats show that sales are significantly down compared to the last 4 years, but it feels relatively active right now. Sales #’s are down, but prices remain relatively stable. Sales are down, but we are still starting to see multiple offer activity. Let’s see how deep summer goes for sales, stay tuned!