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Sales to active ratio:
- March 2021 Overall = 69%
- Detached homes = 70%
- Condos = 53%
- Townhomes = 114%
- Higher than last month = 60%
- Higher than March 2020 = 19%
- Higher than 5yr March average = 38%
- Higher than 10yr March average = 27%
**Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- March 2021 Sales = 101
- Higher than last month = 78
- Higher than March 2020 = 35
- Higher than 5 yr avg = 65
- 55% Higher than 5 yr avg
- Higher than 10 yr avg = 54
- 87% higher than 10 yr avg
Inventory:
- March 2021 =146
- Higher than last month = 129
- Less than March 2020 = 185
- Lower than the 5 yr avg = 182
- Lower than the 10 yr avg = 253
In a nutshell
The stats for March blew the previous decade of Marches out of the water. The market continues to be hot, but it’s also fickle and sporadic. For instance, you can have virtually identical units get listed from one week to the next, one week could have 7 offers, the next zero, the next 3. All over the map! Pricing is so important in this market. Overpricing is detrimental: I’ve seen similar units get listed, the one listed for less could get multiple offers higher than the higher priced unit, and the higher priced unit doesn’t get any offers. Wild. Pricing and strategy are key week to week in this market.