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Sales to active ratio:
- July 2023 = 27%
- Detached homes = 25%
- Condos = 26%
- Townhomes = 39%
- Same as last month = 27%
- Higher than July 2022 = 12%
- Higher than 5yr July average = 22%
- Higher than 10yr July average = 23%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- July 2023 = 41
- Lower than last month = 47
- Higher than July 2022 = 26
- Lower than the 5 yr avg = 44
- 7% lower than 5 yr avg
- Lower than the 10 yr avg =48
- 15% lower than 10 yr avg
Inventory:
- July 2023 = 152
- Lower than last month =172
- Lower than July 2022 = 213
- Lower than the 5 yr avg = 213
- Lower than the 10 yr avg = 233
In a nutshell
When people ask me “how’s the market”, I am currently responding, not bad, slightly below average for sales but quite a bit lower than average inventory. That’s it, that’s the market in a nutshell! Let’s see how the rest of summer and early fall play out.