Monday, April 2, 2007

March Sales Numbers

I think I may try being a bull for a while, not a bear. I was surprised by the March numbers. Sales for SFH were down only marginally from last year, down about 100 from March 2005. Listings, as we expected, are up. What got me was the median price for the region - $489900! That's not the average - that's the median! I had thought that the houses above $500k were sitting - maybe not.

I really don't know what to think of the numbers, other than there is still strength in the market. The US housing market has been suffering for a while now. I would have thought it would be spilling over somewhat by this time. Apparently not. Not yet, at least.

Here's the updated graph for median prices for Victoria proper and the Capital Region District.

What's next? Will April's median be over $500k? Will the average price for 2007 be a double digit increase from 2006?

Perhaps real estate is local, always goes up, they aren't making any more land, and it's truly different here. NOT!

I know that not everyone agreed with the football game score that I gave last month. That's fine. This month, maybe it's my delirious confusion, but I think I saw the Bulls score a touchdown. End of the first quarter, score - Bulls 13, Bears 0.