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Sales to active ratio:
- April 2023 = 27%
- Detached homes = 16%
- Condos = 44%
- Townhomes = 45%
- Lower than last month = 33%
- Lower than April 2022 = 38%
- Lower than 5yr April average = 29%
- Lower than 10yr April average = 30%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- April 2023 = 40
- Lower than last month = 48
- Lower than April 2022 = 52
- Lower than 5 yr avg = 50
- 20% lower than 5 yr avg
- Lower than the 10 yr avg = 58
- 31% lower than 10 yr avg
Inventory:
- April 2023 = 151
- Higher than last month =147
- Higher than April 2022 = 137
- Lower than the 5 yr avg = 216
- Lower than the 10 yr avg = 183
In a nutshell
Meh. Hahaha, that’s the word I’m choosing for how the real estate market is moving along. April sales were just ok, on the lower end of the sales for the last decade of Aprils. Inventory is still relatively low, still lower than 5 + 10 year April averages. I thought the later part spring would have been stronger because of the lack of interest rate hikes, but I was wrong, The market is especially slow in the detached $1.5M-$2M range. I don’t anticipate things picking up much over summer, but I was wrong before so maybe I’ll be wrong again! Bring on summer, let’s see what happens.