Weekly stats update courtesy of the VREB.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||78%||
|Months of Inventory||
Big divergence in the charts from last year. Months of inventory dropping quickly while sales to list increases. Usually the sales/list ratio is lower in the first week and climbs throughout the month because of all the listings that expired being relisted.
Fairly strong week of sales although it’s too few days to come to any conclusions about that. Sales rate is up and new listings down so that’s not a great sign for any house hunters this spring. Inventory has hardly built up at all from January and with a 78% sales to new list ratio right from week 1, it doesn’t seem like we are going to be building up much of anything unless the market softens significantly. Maybe all this snow will scare people away?