That number comes from 726 active listings, after removing 239 conditionally sold units, divided against 446 sales in the month, so it reflects both sides of the market rather than one. New listings were up 12.3 percent year over year, giving buyers somewhat more selection without loosening the overall balance.
A citywide label also hides real variation by neighbourhood and price band. A starter home near $444,700 can draw multiple offers while a higher-end or specialty property in the same city can sit for a long stretch, so the label applies unevenly depending on what and where you are buying or selling.
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