CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER
Sales to active ratio:
- May 2023 = 37%
- Detached homes = 14%
- Condos = 53%
- Townhomes = 42%
- Higher than last month = 28%
- Higher than May 2022 = 30%
- Higher than 5yr May average = 25%
- Higher than 10yr May average = 24%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- May 2023 = 61
- Higher than as last month = 50
- Higher than May 2022 = 51
- Higher than 5 yr avg = 47
- 30% Higher than 5 yr avg
- Higher than 10 yr avg = 54
- 13% Higher than 10 yr avg
Inventory:
- May 2023 = 165
- Lower than last month =177
- Lower than May 2022 = 168
- Lower than the 5 yr avg = 220
- Lower than the 10 yr avg = 275
In a nutshell
Sales in May were quite good (above average for Mays in the last 10yrs). 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.