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.
June 2012 month to date (previous weeks in brackets)
Net Unconditional Sales: 336 (193, 45)
New Listings: 799 (441, 112)
Active Listings: 4862 (4765, 4696)
Sales to new listings ratio: 42% (44%, 40%)
Net Unconditional Sales: 618
New Listings: 1465
Active Listings: 5050
Sales to new listings ratio: 42%
Sales to active listings ratio: 12.2% or 8.17 MOI
The mirror market of last year continues. Listings sped up a bit last week so we're now running the same rate as a year ago. This kind of market produced gentle declines in the past 2 years (~2% a year) so it is still relatively balanced. OSFI restrictions will give it a bit of a nudge, and certainly won't be good news for anyone in the reno industry, as HELOC room will be reduced considerably.