December 2009 was a particularly robust sales month - compared to most Decembers that is:
Net Unconditional Sales: 453
New Listings: 480
Active Listings: 2,557
December 2010 is what I'd call a perfectly average sales month - again, when we compare it to other December year data we have access to.
Marko Juras, by way of his access to up to the minute VREB MLS sales data provides us with a slightly premature look at December 2010.
December 2010 (as on December 29)
Net Unconditional Sales: 322
New Listings: 491
Active Listings: 3,228
The average reported price for December 2010 is almost $640,000. The average reported price in December 2009 was $651,316.
A year's worth of change brought Victorians diddly squat. We watched this market tug back and forth between seller's and buyer's market conditions, with two horrific months creating industry panic in August and September, but otherwise flat territory until a rather difficult to explain/understand fall recovery. Listings fell as sales climbed in October, November and December bucking trends established in previous falls' sales data.
It's prediction time again soon. The industry champions will toss press release after press release written to build confidence in real estate buying. We'll continue to debunk their bunk. I'm going to repeat something I wrote this time last year as a prediction:
Until we see a significant economic event, like an interest rate rise of 1% or greater in the fixed products, this market will keep doing what it did this year: bouncing around up and down each month all the while losing value to the effects of inflation.