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.
November 2011 (last week's numbers)
Net Unconditional Sales: 200 (90)
New Listings: 369 (201)
Active Listings: 4,265 (4,503)
Sales to new listings ratio: 54%
Net Unconditional Sales: 479
New Listings: 722
Active Listings: 3,723
Sales to new listings ratio: 66%
Sales to active listings ratio: 13% or 7.7 MOI
For almost 3 months we've been averaging 15 unit sales per day. Which is remarkable considering this time of year is not prime buying, and therefore selling, season. Weird. Demand is exceptionally low comparatively to the past decade, but perhaps 15 unit sales a day is "the floor"? Or maybe that should read "the norm"? And if that's the case, wouldn't you shudder at the thought of being one of the 1200+ licensed agents in this town trying to feed your family and put all kinds of iGadgets under the tree in just 40 short day's time?
Despite the still-high number of active listings out there, I'm not sure what's uglier: the quality of offerings or the prospects of trying to sell them quickly for "expected" prices?