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Sales to active ratio:
- Sept 2023 = 14%
- Detached homes = 6%
- Condos = 23%
- Townhomes = 35%
- Lower than last month = 27%
- Lower than September 2022 = 15%
- Lower than 5yr September average = 22%
- Lower than 10yr September average = 23%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- September 2023 = 27
- Lower than last month = 47
- Lower than September 2022 = 31
- Lower than the 5 yr avg = 41
- 34% lower than 5 yr avg
- Lower than the 10 yr avg =47
- 43% lower than 10 yr avg
Inventory:
- September 2023 = 189
- Higher than last month =172
- Lower than September 2022 = 206
- Lower than the 5 yr avg = 212
- Lower than the 10 yr avg = 226
In a nutshell
Low sales volume for a September, and inventory is still low but slowly starting to work it’s way up to average levels. Townhomes are moving (35% sales to active ratio – seller’s market), detached homes are not (6% sales to active ratio – buyer’s market). The market has only slowed more as we approach the end of October, we will see if this last rate pause brings any life to the market.