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Sales to active ratio:
- April 2022 Overall = 40%
- Detached homes = 34%
- Condos = 36%
- Townhomes =58%
- Lower than last month = 72%
- Lower than April 2021 = 60%
- Higher than 5yr April average = 32%
- Higher than 10yr April average = 29%
**Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- April 2022 Sales = 52
- Lower than last month = 71
- Lower than April 2021 = 93
- Lower than 5 yr avg = 57
- 8% lower than 5 yr avg
- Lower than 10 yr avg = 57
- 8% lower than 10 yr avg
Inventory:
- April 2022 = 129
- More than last month = 99
- Lower than April 2021 = 155
- Lower than the 5 yr avg = 190
- Lower than the 10 yr avg = 236
In a nutshell
April, showing signs of the market changing. Lower number of sales for April than both the 5 & 10 year averages, that’s the first time a month has had lower sales than the averages in a very long time. Inventory is still quite low, but it’s climbing slowly. The market is slowing down, but overall is still quite strong. The interest rate news coming in June will determine what happens next!