The sales to new listings ratio (SNLR) is a good metric for judging the amount of demand in a real estate market.  For any given market, it is the ratio of the number of home sales over the number of new listings. It is generally considered a sellers’ market if the ratio is above 60% and a buyers’ market if it is below 40%, with any number between those limits indicating a balanced market. Better Dwelling has used this metric to report on the cooling still being seen in many Canadian real estate markets.

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