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Sales to active ratio:
- November 2023 = 22%
- Detached homes = 15%
- Condos = 20%
- Townhomes = 42%
- Higher than last month = 15%
- Higher than November 2022 = 15%
- Lower than 5yr November average = 31%
- Lower than 10yr November average = 28%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- November 2023 = 38
- Higher than last month = 30
- Higher than November 2022 = 30
- Lower than the 5 yr avg = 46
- 17% lower than 5 yr avg
- Lower than the 10 yr avg =46
- 17% lower than 10 yr avg
Inventory:
- November 2023 = 172
- Lower than last month =199
- Lower than November 2022 = 180
- Lower than the 5 yr avg = 175
- Lower than the 10 yr avg = 194
In a nutshell
Sales were slower than the 5 and 10 year averages, and inventory levels are creeping up near the 5 and 10 year averages. The overall feeling is somewhat positive for the market in 2024, but only time will tell!