Stats update courtesy of the VREB via Marko Juras. Visualizing the current market conditions compared to last year really drives home how drastically the market has changed in a single year. Months of inventory has dropped in half from this time last February, and the Sales/New Listings ratio is up 41%. March and April 2015 is when the market really took off, so one would hope this is the end of these dramatic year over year increases. That said, the spring market is just gearing up, and we have seen hotter markets in Victoria.
Or in text form if you prefer.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||
|Months of Inventory||
*The sales projection is calculated by taking the current sales pace, comparing it to the same date from last year, and adding the percentage increase to the total from February 2015. The number is nuts and if hit, would be the highest ever. Let’s see what happens.