Sales Quantity

From 2022 to 2024, the Canadian real estate market experienced significant fluctuations in sales quantity. At the beginning of 2022, the sales quantity was 23 units, which peaked at 63 units in March 2022. The market saw a rebound in 2023, particularly in May and September, with sales reaching 65 units and 46 units, respectively. However, in 2024, sales quantities were relatively stable, peaking at 63 units in May 2024, followed by a slight decline.

Average Price

Average prices showed noticeable changes over the analysis period. At the start of 2022, the average price was $1,843,396, which slightly decreased to $1,802,623 in early 2023. In 2024, the average price increased again, reaching $2,050,088 in January 2024, and then fluctuating slightly, with the average price at $1,924,521 in August 2024.

Active Listings

The number of active listings fluctuated throughout the analysis period. For instance, in May 2022, there were 87 active listings, which increased to 105 by August 2022. In September 2023, the number of active listings peaked at 125, indicating increased market competition. In 2024, the number of active listings rose to 143 in May and 148 in June, suggesting a growing supply of listings in the market.

Sale Price to Listing Price Ratio (SP/LP)

The SP/LP ratio is a key indicator of market competition and price negotiations. In 2022, the SP/LP ratio generally ranged from 97% to 113%, indicating that buyers were willing to pay above the listing price. In 2023, the SP/LP ratio slightly decreased, mostly ranging from 96% to 104%. By 2024, the SP/LP ratio further declined, particularly in January and August 2024, to 96% and 97%, respectively, suggesting a moderation in price competition.

Summary

Overall, the Canadian real estate market has undergone multiple fluctuations over the analysis period. Changes in sales quantity, average price, active listings, and SP/LP ratio collectively influence market dynamics. Future market trends will be important to monitor for further insights into market recovery and stability.