MLS numbers courtesy of the VREB via Marko Juras.
Month to date December 2010 (last week's month-to-date totals in brackets)
Net Unconditional Sales: 243 (163)
New Listings: 408 (305)
Active Listings: 3,308 (305)
December 2009 totals
Net Unconditional Sales: 453
New Listings: 480
Active Listings: 2,557
It's a particularly slow time of year, in an untypically slow year for Victoria's real estate market. Not really a good time to be selling, but for those buying, there's a higher chance that what's on the market is in the need-to-sell category versus the want-to-sell, which may mean you can drive a harder bargain.
This early-winter's market has been tough to sort out. There's a bit of a tug of war going on, so far with sellers pulling just that little bit harder. The sales to new listings ratio has been between 4 and 6 for the past couple of months; which is why prices aren't falling as fast as they did in August and September when the market had the bears salivating.