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Sales to active ratio:
- January 2024 = 14%
- Detached homes = 9%
- Condos = 14%
- Townhomes = 27%
- Same as last month =14%
- Same as January 2023 = 14%
- Lower than 5yr January average = 22%
- Lower than 10yr January average = 19%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- January 2024 = 19
- Lower than last month = 21
- Higher than January 2023 = 17
- Lower than the 5 yr avg = 28
- 32% lower than 5 yr avg
- Lower than the 10 yr avg =29
- 34% lower than 10 yr avg
Inventory:
- January 2024 = 139
- Lower than last month =150
- Higher than January 2023 = 125
- Lower than the 5 yr avg = 141
- Lower than the 10 yr avg = 163
In a nutshell
January was a pretty slow month for sales, and inventory is right at the 5 year average for this time of year. February came out of the gate hot though! A few weeks can make a huge difference for the temperature of the market.