Here's the basic facts of the lower end of the condo market (two-bed condos priced under $250,000):
According to my PCS account*, the last time a condo in this segment of the market sold was July 6, 2010. The time before that? May 12, 2010. <sarcasm> Most popular indeed </sarcasm>.
* Note: Tim Ayres corrected me in comments. He stated there were 19 2-bed condo units sold between June 1, 2010 and July 8, 2010 and a total of 48 condos priced under $250K sold in the VREB area between those dates, including 1 beds and bachelors, segments of the market I don't track. I trust Tim's data completely. I'm not sure why these sales would not be registered in my PCS account which only excludes Sooke, Metchosin, Saanich North and the Gulf Islands. It could be that their listing prices were higher than $250K but the sales prices fell under that benchmark. These sales represent 3% and 7% of the total market-setting transactions in June 2010. I stand by my original assertion that these numbers do not support the above statement written by Carla Wilson in the Times Colonist.