Weekly stats update courtesy of the VREB via Marko Juras.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||82%||85%||
|Months of Inventory||
Just when you thought the market couldn’t get any hotter, it does. MOI down, sales to list ratio up.
And sorry to keep harping on it but what is still completely astounding is that inventory continues to drop. This is now the fourth week in a row with inventory dropping which is unheard of in May. Normally inventory doesn’t start decreasing until July.
Taking a look at the sales per day, we see we are still heating up and immediately devouring almost 9 out of 10 new listings that come on.