MLS numbers courtesy of the VREB via Marko Juras. These numbers are for the Victoria Real Estate Board's reporting area, including Sooke, Shawnigan Lake and the Gulf Islands.
July 2011 (last week's numbers)
Net Unconditional Sales: 270 (140)
New Listings: 763 (407)
Active Listings: 4,856 (4,756)
Sales to new listings ratio: (35%) 34%
July 2010 totals
Net Unconditional Sales: 527
New Listings: 1119
Active Listings: 4,477
Sales to new listings ratio: 47%
Sales to active listings ratio: 12% or 8.5 MOI
Sales volume is up ever so slightly from about 14 units per day to 15 units per day. If the trend holds, we will see around 465 sales in July. Any way you look at it, spin it, or close your eyes and ignore it, that's a dreadful number. It's in the range of the two worst sales volume surprise months in recent memory: August and September 2010.