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Sales to active ratio:
- January 2023 = 13%
- Condos = 18%
- Townhomes = 11%
- Lower than last month = 18%
- Lower than January 2022 = 42%
- Lower than 5yr January average = 25%
- Lower than 10yr January average = 20%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- January 2023 = 23
- Lower than as last month = 32
- Lower than January 2022 = 45
- Lower than 5 yr avg = 43
- 46% lower than 5 yr avg
- Lower than the 10 yr avg = 44
- 47% lower than 10 yr avg
Inventory:
- January 2023 = 179
- Higher than last month = 175
- Higher than January 2022 = 108
- Lower than the 5 yr avg = 197
- Lower than the 10 yr avg = 270
In a nutshell
The market in January was slow, one of the slowest Januarys in the last decade. That being said, it’s deep into February now and the market has picked up. Stay tuned for the next real estate update!