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Sales to active ratio:
- February 2023 = 20%
- Detached homes = 13%
- Condos = 32%
- Townhomes = 29%
- Higher than last month = 14%
- Lower than February 2022 = 94%
- Lower than 5yr February average = 42%
- Lower than 10yr February average = 33%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- February 2023 = 28
- Higher than last month = 17
- Lower than February 2022 = 80
- Lower than 5 yr avg = 55
- 49% lower than 5 yr avg
- Lower than the 10 yr avg = 49
- 43% lower than 10 yr avg
Inventory:
- February 2023 = 143
- Higher than last month =123
- Higher than February 2022 = 85
- Lower than the 5 yr avg = 152
- Lower than the 10 yr avg = 193
In a nutshell
February was pretty slow overall….BUT it picked up in the last week, and it’s still busy right now! With the recent 0% rate hike I anticipate even more life being injected into this already busy spring market.