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Stats: Sales to active ratio:
- March 2024 = 19%
- Detached homes = 14%
- Condos = 14%
- Townhomes = 42%
- Lower than last month =23%
- Lower than March 2023 = 32%
- Lower than 5yr March average = 31%
- Lower than 10yr March average = 35%
- **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**
Sales:
- March 2024 = 32
- Lower than last month = 36
- Lower than March 2023 = 48
- Lower than the 5 yr avg = 62
- 48% Lower than 5 yr avg
- Lower than the 10 yr avg =60
- 46% Lower than 10 yr avg
Inventory:
- March 2024 = 169
- Higher as last month =158
- Higher than March 2023 = 151
- Lower than the 5 yr avg = 213
- Lower than the 10 yr avg = 185
In a nutshell
The market felt a lot busier than the numbers reveal! The number of sales for March was the lowest March in the last 10 years, even lower than covid March 2020. Inventory is slightly lower than average but it’s getting pretty close. Either a property will go multiple offers, or it won’t even get showings, extremes on both sides!