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: 333 (228)
New Listings: 552 (359)
Active Listings: 3,737 (3,750)
November 2009 totals
Net Unconditional Sales: 604
New Listings: 796
Active Listings: 2,973
The market appears to be in a holding pattern. Sales have improved from a terrible September but there is little to indicate November will be a good month relative to previous years nor is there any sign of increasing market activity from October. The current SFH average price is reading as $675,041. If this stays the same Victoria will set a new record for Victoria average prices - unfortunately this number is meaningless as prices are not increasing across the market, rather this is purely a number indicative of the types of homes selling in the Victoria market. There are a fair number of "good deals" in the upper end of the market where buyers are perceiving better value in higher priced homes. While the number points to increasing prices the reality is many homes are still selling for five to seven percent less than when originally listed.