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Sales to active ratio:
- November 2021 = 70%
- Detached homes = 29%
- Condos = 97%
- Townhomes = 183%
- Lower than last month = 74%
- Higher than Nov 2020 = 42%
- Higher than 5yr Nov average = 37%
- Higher than 10yr Nov average = 26%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- November 2021 = 54
- Lower than last month = 68
- Lower than Nov 2020 = 104
- Lower than 5 yr avg = 63
- 14% Lower than 5 yr avg
- Lower than the 10 yr avg = 57
- 5% Lower than 10 yr avg
Inventory:
- November 2021 = 77
- Lower than last month = 92
- Lower than Nov 2020 = 250
- Lower than the 5 yr avg = 195
- Lower than the 10 yr avg = 320
In a nutshell
Strong market as per usual. Slightly below average sales, but extremely limited inventory is causing prices to soar! HPI Benchmark price is up between 28%-32% in all categories compared to this time last year. Historically this is the lowest point in the year for inventory, hopefully we see rising inventory levels until the summer. Time will tell!