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Sales to active ratio:
- October 2022 = 17%
- Detached homes = 10%
- Condos = 18%
- Townhomes = 15%
- Same as last month = 17%
- Lower than October 2021 = 41%
- Lower than 5yr October average = 36%
- Lower than 10yr October average = 30%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- October 2022 = 36
- Same as last month = 36
- Lower than October 2021 = 68
- Lower than 5 yr avg = 64
- 44% lower than 5 yr avg
- Lower than the 10 yr avg = 64
- 44% lower than 10 yr avg
Inventory:
- October 2022 = 218
- Higher than last month = 208
- Lower than October 2021 = 276
- Higher than the 5 yr avg = 209
- Lower than the 10 yr avg = 297
In a nutshell
The story seems to be the same month after month at the moment. Low sales, mirroring the sales activity from about 10 years ago. Inventory, about double what it was this time last year, but less than half of what it was 10 years ago. There are deals to be had, hit me up if you’re looking for one 🙂