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Sales to active ratio:
- November 2022 = 18%
- Detached homes = 12%
- Condos = 28%
- Townhomes = 33%
- Higher than last month = 15%
- Lower than November 2021 = 61%
- Lower than 5yr November average = 32%
- Lower than 10yr November average = 27%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- November 2022 = 30
- Higher than last month = 29
- Lower than November 2021 = 51
- Lower than 5 yr avg = 48
- 37% lower than 5 yr avg
- Lower than the 10 yr avg = 45
- 33% lower than 10 yr avg
Inventory:
- November 2022 = 162
- Lower than last month =196
- Higher than November 2021 = 84
- Lower than the 5 yr avg = 171
- Lower than the 10 yr avg = 211
In a nutshell
Lowest sales # for a November in the last decade, but similar to Nov 2012/2012. Inventory is hovering around 160, that’s more than double what it was this time last year, but less than half of the inventory levels 10 years ago. Days on market is growing, most noticeably in townhomes, 53 days on market this Nov compared to 7 days on market Nov 2021.