highlights • D ueto astrong labourm arket,elevated listing cancelations,and sagging new listings,the region’sinventoryofhom esforsalefel to14,661 in O ctober(down 3% vsSeptem ber,com pared to a5% typicalseasonaldrop).W hileinventoryrem ainselevated com pared to lastyear(by36% ), itisbestcharacterized asconstrained,sit ing at18% below thepast10-yearO ctoberaverage. • O n am onth-over-m onth basis,detached hom elistings(6,496)and townhom elistings(2,162)fel by5% and 3%,respectively.In contrast,condo listingsrosem arginaly(by0.5%)to 5,526. Com pared toO ctober2021,lastm onth’stownhom elistingswerehigherby92%,folowed by detached hom es(up 37%)and condos(up 20%). • Theregion had 5.3 m onthsofinventory(M O I)in O ctober,indicatingoveral balanced conditions. Thatsaid,onlythedetached segm entofthem arketwas,in fact,balanced (7.1 M O I).Conditions continued tofavourselersin both thetownhom e(4.2 M O I)and condosegm ents(4.3 M O I).
THERENNIEADVANCE total listings
OCTOBER 202
14,000
+ 37% vsOct2021
12,000
10,000
8,000
8,600 10 yrOctAvg
6,000
6,496
4,000
DETACHED listings
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2,000
- 24% vs10yrOctAvg
﹍ 10 yrO ctoberAverage
● October
1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500
+ 92% vsOct2021
2,565 10 yrOctAvg
2,162
TOWNHOME listings
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500
- 16% vs10yrOctAvg
﹍ 10 yrO ctoberAverage
● October
12,000
20% vsOct2021
10,000
8,000
6,000
6,345 10 yrOctAvg
5,526
4,000
CONDO listings
2,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0
- 13% vs10yrOctAvg
﹍ 10 yrO ctoberAverage
● October
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