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Sales-To-New-Listings Ratio (SNLR)

Understand the Sales-To-New-Listings Ratio (SNLR) in Canadian real estate, how it measures market balance and affects buyer and seller strategies.

Sales-To-New-Listings Ratio (SNLR)

May 30, 2025


What is the Sales-To-New-Listings Ratio (SNLR)?

The Sales-To-New-Listings Ratio (SNLR) is a real estate metric that compares the number of homes sold to the number of new listings in a given period.

Why Does the Sales-To-New-Listings Ratio Matter in Real Estate?

In Canadian real estate, SNLR is used to determine market conditions and whether buyers or sellers have more negotiating power.



SNLR interpretations:
  • Below 40%: Buyer’s market
  • 40–60%: Balanced market
  • Above 60%: Seller’s market



SNLR is commonly tracked by CREA and regional boards and is a key indicator for market type and pricing pressure.



Understanding SNLR helps market participants assess supply and demand, predict price trends, and time market entry or exit.

Example of the Sales-To-New-Listings Ratio in Action

The city’s SNLR rose to 68%, suggesting a strong seller’s market and increased competition among buyers for available listings.

Key Takeaways

  • Measures homes sold vs. new listings.
  • Indicates market pressure and conditions.
  • Below 40% = buyer's market.
  • Above 60% = seller's market.
  • Aids in pricing and timing strategies.

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