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Sales to active ratio:

• March 2024 = 16%
• Detached homes = 5% 
• Condos = 23%
• Townhomes = 17%
• Lower than last month = 19%
• Lower than March 2023 = 21%
• Lower than 5yr March average = 25% 
• Lower than 10yr March average = 28%
• **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**

Sales:

• March 2024 = 43
• Lower than as last month = 45
• Higher than March 2023 = 42
• Lower than 5 yr avg = 66
• 35% Lower than 5 yr avg
• Lower than 10 yr avg = 62
• 31% Lower than 10 yr avg

Inventory:

• March 2024 = 263
• Higher than last month =242
• Higher than March 2023 = 200
• Lower than the 5 yr avg = 291
• Higher than the 10 yr avg = 258

In a nutshell
The market felt a lot busier than the numbers reveal! The number of sales for March was one of the lowest March in the last 10 years. Inventory is hovering between the 5 + 10 year averages. Either a property will go multiple offers, or it won’t even get showings, extremes on both sides!

CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER

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!

CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER

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. 

CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER

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.