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.
May 2012 month to date (previous week in brackets)
Net Unconditional Sales: 551 (448, 286, 140)
New Listings: 1437 (1148, 761, 382)
Active Listings: 4728 (4649, 4444, 4451)
Sales to new listings ratio: 38% (39%, 37.5%, 36%)
Net Unconditional Sales: 572
New Listings: 1524
Active Listings: 4857
Sales to new listings ratio: 37.5%
Sales to active listings ratio: 11.7% or 8.49 MOI
Listings are piling on at a similar pace as last May. Sales will very likely eclipse May 2011. I suspect it could be by as much as 10 per cent, which you know will quickly become the media story: "Sales spike in Victoria." If I was writing the headline, it'd be "Sales volume barely eclipses decade low."
The G&M has been running an interesting "blogger" series about buying in Canada for the past month. It's surprisingly decent. The Vancouver couple concluded now's not the time to buy; <sarcasm> which is SHOCKING I tell you! </sarcasm> There's a pretty good collection of resources with a fair amount of perspective balance; a nice change from the "now's always a good time to buy" meme of the recent past.