Weekly stats update courtesy of the VREB via Marko Juras.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||82%||85%||90%||
|Months of Inventory||
Market conditions are completely off the rails now. 90% sales/list is unbelievable in May. To see how completely nuts it is, just look at the normal range throughout the year. It doesn’t hit north of 90% until December normally when nothing gets listed.
Sales per day down a bit but that’s probably the long weekend messing with the stats.
Quite a bit of construction popping up around town that I’ve noticed. Especially single family and townhouse construction seems to have picked up quite a bit to add to the mini rental building boom downtown. Despite the efforts of our neighbourhood serial arsonist, these units are going to be hitting the market at an increasing rate. Article on this coming later this week, stay tuned.