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Sales to active ratio:
- January 2024 = 14%
- Detached homes = 6%
- Condos = 18%
- Townhomes = 17%
- Higher than last month = 12%
- Higher than January 2023 = 12%
- Lower than 5yr January average = 20%
- Lower than 10yr January average = 20%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- January 2024 = 29
- Higher than as last month = 25
- Higher than January 2023 = 22
- Lower than 5 yr avg = 39
- 25% Lower than 5 yr avg
- Lower than 10 yr avg = 43
- 32% Lower than 10 yr avg
Inventory:
- January 2024 = 210
- Lower than last month =218
- Higher than January 2023 = 182
- Lower than the 5 yr avg = 211
- Lower than the 10 yr avg = 244
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.