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Sales to active ratio:

• September 2023 = 11%
• Detached homes = 5% 
• Condos = 16%
• Townhomes = 14%
• Lower than last month = 17%
• Lower than September 2022 = 17%
• Lower than 5yr September average = 25% 
• Lower than 10yr September average = 25%
• **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**

Sales:

• September 2023 = 26
• Lower than as last month = 35
• Lower than September 2022 = 35
• Lower than 5 yr avg = 52
• 50% Lower than 5 yr avg
• Lower than 10 yr avg = 61
• 57% Lower than 10 yr avg

Inventory:

• September 2023 = 236
• Higher than last month =207
• Higher than September 2022 = 211
• Same as the 5 yr avg = 236
• Lower than the 10 yr avg = 280

In a nutshell
Low sales volume for a September, and inventory is still low but slowly starting to work it’s way up to average levels. The market has only slowed more as we approach the end of October, we will see if this last rate pause brings any life to the market. 

CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER

Sales to active ratio:

• Sept 2023 = 14%
• Detached homes = 6% 
• Condos = 23%
• Townhomes = 35%
• Lower than last month = 27%
• Lower than September 2022 = 15%
• Lower than 5yr September average = 22% 
• Lower than 10yr September average = 23%
• **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**

Sales:

• September 2023 = 27
• Lower than last month = 47
• Lower than September 2022 = 31
• Lower than the 5 yr avg = 41
• 34% lower than 5 yr avg
• Lower than the 10 yr avg =47
• 43% lower than 10 yr avg

Inventory:

• September 2023 = 189
• Higher than last month =172
• Lower than September 2022 = 206
• Lower than the 5 yr avg = 212
• Lower than the 10 yr avg = 226

In a nutshell
Low sales volume for a September, and inventory is still low but slowly starting to work it’s way up to average levels. Townhomes are moving (35% sales to active ratio – seller’s market), detached homes are not (6% sales to active ratio – buyer’s market). The market has only slowed more as we approach the end of October, we will see if this last rate pause brings any life to the market. 

CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER

Sales to active ratio:

• July 2023 = 17%
• Detached homes = 8% 
• Condos = 19%
• Lower than last month = 27%
• Higher than July 2022 = 8%
• Lower than 5yr July average = 20% 
• Lower than 10yr July average = 19%
• **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**

Sales:

• July 2023 = 33
• Lower than as last month = 49
• Higher than July 2022 = 19
• Lower than 5 yr avg = 43
• 23% Lower than 5 yr avg
• Lower than 10 yr avg = 49
• 32% Lower than 10 yr avg

Inventory:

• July 2023 = 190
• Higher than last month =179
• Lower than July 2022 = 232
• Lower than the 5 yr avg = 245
• Lower than the 10 yr avg = 300

In a nutshell
When people ask me “how’s the market”, I am currently responding, not bad, slightly below average for sales but quite a bit lower than average inventory. That’s it, that’s the market in a nutshell! Let’s see how the rest of summer and early fall play out. 

CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER

Sales to active ratio:

• July 2023 = 27%
• Detached homes = 25% 
• Condos = 26%
• Townhomes = 39%
• Same as last month = 27%
• Higher than July 2022 = 12%
• Higher than 5yr July average = 22% 
• Higher than 10yr July average = 23%
• **Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**

Sales:

• July 2023 = 41
• Lower than last month = 47
• Higher than July 2022 = 26
• Lower than the 5 yr avg = 44
• 7% lower than 5 yr avg
• Lower than the 10 yr avg =48
• 15% lower than 10 yr avg

Inventory:

• July 2023 = 152
• Lower than last month =172
• Lower than July 2022 = 213
• Lower than the 5 yr avg = 213
• Lower than the 10 yr avg = 233

In a nutshell
When people ask me “how’s the market”, I am currently responding, not bad, slightly below average for sales but quite a bit lower than average inventory. That’s it, that’s the market in a nutshell! Let’s see how the rest of summer and early fall play out.