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Sales to active ratio:
- March 2022 = 64%
- Detached homes = 31%
- Condos = 95%
- Townhomes = 54%
- Lower than last month = 77%
- Higher than March 2021 = 53%
- Higher than 5yr March average = 36%
- Higher than 10yr March average = 27%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- March 2022 = 72
- Lower than last month = 78
- Lower than March 2021 = 100
- Higher than 5 yr avg = 65
- 11% Higher than 5 yr avg
- Higher than the 10 yr avg = 62
- 16% Higher than 10 yr avg
Inventory:
- March 2022 = 113
- Higher than last month =102
- Lower than March 2021 = 190
- Lower than the 5 yr avg = 214
- Lower than the 10 yr avg = 316
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.