New listings for November 2018 have slightly decreased since November 2017.
Watch below to learn more:
Video Transcription
Hey guys, with the year almost coming to an end, we are here with our final update for 2018.
In the month of November, we saw a fewer number of listings coming on the market, down by 44%, and also fewer sales, down by about 36%, compared to last year November. Now, if you remember at the start of this year, stress test was implemented all across the board. So in anticipation of that, what we had seen in the last couple of months of 2017, there were more listings and also more sales. Taking that into account, the numbers that I mentioned just now, are not a total surprise.
Looking at the average sale price, that was pretty much the same as what we had seen last year November, no changes there.
In terms of total number of active listings, we had 299 active listings on the market in November, giving us almost two and a half months of inventory. A point to note here is, the ratio of sold to new listings has climbed to just over 60%, taking us into sellers market conditions.