MLS numbers courtesy of the VREB via Marko Juras.
Month to date November 2010 (last week's month-to-date totals in brackets)
Net Unconditional Sales: 228 (131)
New Listings: 359 (192)
Active Listings: 3,750 (3,749)
November 2009 totals
Net Unconditional Sales: 604
New Listings: 796
Active Listings: 2,973
Current average SFH price is $613,649 with original list price of $651,200. Many homes selling are first dropping their prices. Home sellers, on average are getting about 94% of what they originally thought. In other words, buyers are negotiating deals around 6% below original asking prices. Condo average currently is $323,708.
The biggest change I'm seeing is a decline, perhaps significant, in the sales volume again. Between November 8th and November 15th, only 97 units sold, down from 131 in the first 7 days of the month. If this trend continues, we'll see sales around 450 for the month. This is down slightly from November 2009, but almost double the 268 sales recorded in November 2008, which is why we're not seeing prices tumbling faster throughout the fall as we did in 2008.