Using stats given by the VREB, I've done up graphs of median condo sale prices and condo sales numbers for Greater Victoria, Victoria proper, Saanich, and Langford. I was hoping that by creating these graphs, I'd have some great revelation. I didn't, but you might.
Greater Victoria has shown quite consistent sales numbers for the past 2 years. It appears that the median price has or is peaking, as increases since last summer have been marginal.
Victoria proper has seen strong sales thus far this year. There are still some significant year-over-year median price increases.
Sales in Saanich (East and West), with the exception of February and April, have been slightly less than previous years. Median prices appear to have stalled out as well.
Langford sales, thus far this year, have been similar to the past two years. Of course, May 2006 was an anomaly. Prices have been all over, but do appear to still be rising.
I've also thrown together a graph for the year-over-year median price increases. There is definitely a downward trend. This past month, Langford had the first YOY negative median price increase.