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Sales to active ratio:
- November 2022 = 18%
- Detached homes = 12%
- Condos = 20%
- Townhomes = 18%
- Higher as last month = 16%
- Lower than November 2021 = 67%
- Lower than 5yr November average = 33%
- Lower than 10yr November average = 26%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- November 2022 = 34
- Lower than as last month = 36
- Lower than November 2021 = 54
- Lower than 5 yr avg = 57
- 40% lower than 5 yr avg
- Lower than the 10 yr avg = 57
- 40% lower than 10 yr avg
Inventory:
- November 2022 = 188
- Lower than last month = 223
- Higher than November 2021 = 81
- Lower than the 5 yr avg = 196
- Lower than the 10 yr avg = 282
In a nutshell
Lowest sales # for a November in the last decade, tied with Nov 2012. Inventory is hovering around 190, 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, 40 days on market this Nov compared to 11 days on market Nov 2021.