It is interesting to look at the graph below showing sales to active listings percentages over the last 10 years. This stat is something I use all the time as it measures the percentage of sales compared to active listings in a given 30 day period. i.e.: 10% would mean 1 in 10 listings will sell in a 30 day period. 15-20% is considered to be a balanced market !
It is clear from the stats over the last 3-4 years that we are in a relatively stable market with little fluctuation.