Weekly stats update courtesy of the VREB.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||53%||63%||
|Months of Inventory||
A quarter less sales than this time last year, and a quarter less inventory. Pretty interesting to see the months of inventory tracking last year’s performance so closely. We are scraping the bottom of the barrel here, and despite increasing reports of more new listings hitting the market, the market measures are not showing any cooling down in aggregate.
It is true that individual market segments are cooling. For example, there were 1.85 months of inventory for detached homes in the core in April compared to 1.06 a year ago. This will be something to watch going forward but so far these are being counteracted by other market segments that are more active this year than last (such as condos and townhouses). At this point the market cannot get more active, but we’ll need a bit more data to determine if it is going to back off across the board or just bounce around the bottom for a while..
On another topic, I’m still mulling over how to improve the site and make it more useful to house hunters out there. Part of the issue is that since I have a real job that I intend to keep for the time being, there is limited time to develop new features, but I may be bringing in some additional resources to jump start new developments.
This is where I need your help. I have a couple ideas for what I think would be useful, but what would you like to see added to this site first?