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Sales to active ratio:
- July 2023 = 17%
- Detached homes = 8%
- Condos = 19%
- Lower than last month = 27%
- Higher than July 2022 = 8%
- Lower than 5yr July average = 20%
- Lower than 10yr July average = 19%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- July 2023 = 33
- Lower than as last month = 49
- Higher than July 2022 = 19
- Lower than 5 yr avg = 43
- 23% Lower than 5 yr avg
- Lower than 10 yr avg = 49
- 32% Lower than 10 yr avg
Inventory:
- July 2023 = 190
- Higher than last month =179
- Lower than July 2022 = 232
- Lower than the 5 yr avg = 245
- Lower than the 10 yr avg = 300
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.