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Sales to active ratio:
- May 2023 = 34%
- Detached homes = 27%
- Condos = 39%
- Townhomes = 50%
- Higher than last month = 26%
- Higher than May 2022 = 27%
- Higher than 5yr May average = 28%
- Higher than 10yr May average = 30%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- May 2023 = 54
- Higher than last month = 40
- Higher than May 2022 = 49
- Same as May 5 yr avg = 54
- Lower than the 10 yr avg = 63
- 14% lower than 10 yr avg
Inventory:
- May 2023 = 158
- Higher than last month =155
- Lower than May 2022 = 181
- Lower than the 5 yr avg = 208
- Lower than the 10 yr avg = 233
In a nutshell
Sales in May were pretty good (around average for Mays in the last 5yrs). Inventory still historically low for this time of year, giving a relatively high sales to active ratio (what percent of the average inventory level for that month sold), putting slight upward pressure on prices.