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Sales to active ratio:
- February 2023 = 20%
- Detached homes = 12%
- Condos = 18%
- Townhomes = 38%
- Higher than last month = 13%
- Lower than February 2022 = 74%
- Lower than 5yr February average = 32%
- Lower than 10yr February average = 27%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- February 2023 = 38
- Higher than as last month = 23
- Higher than February 2022 = 35
- Lower than 5 yr avg = 53
- 28% lower than 5 yr avg
- Lower than the 10 yr avg = 58
- 34% lower than 10 yr avg
Inventory:
- February 2023 = 186
- Higher than last month = 180
- Higher than February 2022 = 105
- Lower than the 5 yr avg = 207
- Lower than the 10 yr avg = 276
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.