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Sales to active ratio:
- March 2022 Overall = 73%
- Detached homes = 47%
- Condos = 144%
- Townhomes =125%
- Lower than last month = 98%
- Higher than March 2021 = 67%
- Higher than 5yr March average = 40%
- Higher than 10yr March average = 33%
**Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- March 2022 Sales = 71
- Lower than last month = 80
- Lower than March 2021 = 101
- Higher than 5 yr avg = 62
- 14.5% higher than 5 yr avg
- Higher than 10 yr avg = 57
- 24.5% higher than 10 yr avg
Inventory:
- March 2022 = 97
- More than last month = 82
- Lower than March 2021 = 151
- Lower than the 5 yr avg = 173
- Lower than the 10 yr avg = 224
In a nutshell
March was a strong month for sales, although not as strong as March 2021. In real time, the market is shifting. Bank of Canada has raised it’s rate .75% in the last month or two. Feels like the market is just hesitant right now, but I expect a slight flurry of activity in May…time will tell.