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.
Net Unconditional Sales: 131
New Listings: 340
Active Listings: 4,562
Sales to new listings ratio: 38.5%
Net Unconditional Sales: 467
New Listings: 976
Active Listings: 4,046
Sales to new listings ratio: 47%
Sales to active listings ratio: 11% or 8.7 MOI
We're averaging 13 unit sales per day, including a three day weekend in there. Low, high or about right for this time of year?
Resilient seems to be the word best to describe this market these days--if you focus on average reported prices only. The truth is anything but. With abnormally high inventory for October, and sales volumes at decade-lows, there is significant pressure towards lower prices, and zero pronouncements from industry players calling for higher prices.