Weekly stats update courtesy of the VREB via Marko Juras.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||78%||
|Months of Inventory||
Sales of approximately 20 per day which is about 13% ahead of the pace we saw this time last year. Thing is we have 40% less inventory this time around so the market is far tighter than it was last year.
In addition to that, the headline inventory number includes commercial property as well which tends to swing a little less wildly than the residential inventory, and if we factor commercial out it looks even worse. There were only 1292 residential properties for sale at the end of October, which is down 45% over last year. If the trend continues, we could be at under 1000 residential properties available for sale by end of the year.