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Sales to active ratio:
- April 2022 = 46%
- Detached homes = 40%
- Condos = 37%
- Townhomes = 64%
- Lower than last month = 61%
- Higher than April 2021 = 40%
- Higher than 5yr April average = 29%
- Higher than 10yr April average = 23%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- April 2022 = 59
- Lower than last month = 72
- Lower than April 2021 = 72
- Higher than 5 yr avg = 50
- 18% Higher than 5 yr avg
- Higher than the 10 yr avg = 53
- 11% Higher than 10 yr avg
Inventory:
- April 2022 = 129
- Higher than last month =118
- Lower than April 2021 = 180
- Lower than the 5 yr avg = 210
- Lower than the 10 yr avg = 310
In a nutshell
Although showing some signs of a changing market, April was still quite a strong month for sales when comparing to 5 & 10 year averages. 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!