December 2022 Market Update
“Why do we have a dotted line in this month’s graph?” We wanted to note that Skaha Lake Tower Development released 70 units for sale last month which created an extraordinary increase in inventory resulting in a large jump into a Buyer’s market. The dotted line shows where we would be without this increase, which is a more reasonable representation of where we are at. While we are indeed experiencing a Buyer’s Market it is not as extreme as the graph shows this month.
Seller’s market = four months of inventory or less
Balanced market = four to six months of inventory
Buyer’s market = six months or more of inventory
If 100 active listings are available in a month, and 20 homes sold in the that
same month, then there is approximately 5 months of inventory.
