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STATS CENTRE

Updated December 03, 2024
These Market Stats are updated at the beginning of each month using the MLS® HOME PRICE INDEX and the CADREB STATS CENTRE. 
Be sure to come back to stay up to date on the latest data!

Click to expand the images below. Separated by: SINGLE FAMILY | TOWNHOMES | CONDOS

Single Family Stats

  • The single family statistics are based on resale, single family homes on lots under 1 acre.

    *Average Sale Price increased slightly by 0.1% from $867,100 in October to $868,000 in November.
    *New Listings decreased from 206 in October to 151 in November.
    *Total Inventory decreased from 670 in October to 564 in November. (Inventory sat at 835 in July/22 and 157 in Dec/21)
    *Unit Sales decreased from 116 in October to 88 in November. (March 2021 was at a whopping 355) 
    *Sales to Active Ratio decreased slightly from 17% in October to 16% in November. February/22 of last year we were sitting at 62%.)
    *12%-20% is considered a balanced market. Below 12% is considered a Buyers market. Above 20% is considered a Sellers market.

Townhouse Stats

The townhouse statistics are based on resale townhomes and exclude new construction sales.

Condo Stats

The condo statistics are based on resale condos and exclude new construction sales.

Performance over Time

Performance over Time compares Single Family, Townhouse and Condo sales through an extended period of history.

Sales to Active Ratio Explained

Absorption Rate
Absorption rate is the rate at which homes sell in a given area during a given time period. Absorption rate is calculated by dividing the number of sales in a given month by the number of available homes for sale. It is the inverse of months of supply.

For example, if there are 100 condos listed for sale in a certain area, and 10 condos sold over the last month, the absorption rate is 10/100=10%.

An absorption rate of 20% or higher means that homes are selling quickly and the market favors sellers. Lower absorption rates mean that homes are not selling quickly, and supply is much greater than demand, favoring buyers.

Months of Supply
Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are 50 homes on the market and 10 homes selling each month, there is a 5-month supply of homes for sale.

Months of supply is a good indicator of whether a particular real estate market is favoring buyers or sellers. Typically, a market that favors sellers has less than 6 months of supply, while more than 6 months of supply indicates an excess of homes for sale that favors buyers.

Months of supply is the inverse of absorption rate.

What’s the difference between a buyer’s and seller’s market?

Several factors influence the housing market, including mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies. All of these influence the supply and demand of the market which, in turn, affects prices.

There are three classifications experts use to describe the balance of supply and demand in the housing market:

Seller's market
A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio of 20% or higher.

Buyer's market
In contrast, a buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline. Typically this is indicated by a sales-to active listings ratio below 12%.

Balanced market
A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.

Summary
Over a sustained period of time:

  • a seller's market is represented by a ratio of 20% or higher
  • a buyer's market is represented by a ratio of 11% or lower
  • a balanced market rests between 12-19%
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