Weekly stats update courtesy of the VREB.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||50%||50%||54%||59%||
|Months of Inventory||
Pretty consistent trend at 19% below last year’s sales rate. However Mondays always have a higher sales rate and this month we have 5 instead of 4 so final month’s sales will be higher than that. Couple more days and we’ll see how January shaped up in terms of pricing but likely we will bounce back from the dip in December.
Other than that we’re remarkably consistent with last year. Same sales/list ratio, and months of inventory tracking on the same pattern but 23% lower. Overall, market conditions are still just as hot as last year but with less inventory which is likely the factor constricting sales. Once we see the sales/list ratio weakening compared to last year that is a clue the market is cooling down.