Wednesday, October 29, 2008

October's last two days

Victoria's home sales have gone off the cliff this month. My estimate today is similar to what I had after the first 10 days of the month. It looks like there will have been 150 - 170 SFH sold in October in Greater Victoria. Within the past 4 years, the previous lowest monthly sales was December 2005 with 183 sales. It looks like the average sale price will have rebounded from last month - I'm estimating it to be around $570000. The median looks to be between $480k and $490k.

I've heard condo sales have been very slow as well. What's the word on the street?

Saturday, October 11, 2008

Week Ending October 11

Due to the recent changes on the website, I'm no longer able to closely track housing inventory numbers as I have in the past. I guess, as a consumer, the changes aren't too bad. I like the mapping, however, it would be nice to be able to search within a defined region.

I am following sales more closely these days. Based on the first 10 days of October, sales have dropped off the side of a cliff. If the trend continues from the first 10 days of the month through to the end, we will be looking at around 150 to 175 SFH sales. The three previous Octobers had 344, 312, and 299 sales, respectively. Median sale price is running around $470000, the average is around $560000 (this due to a $3million home selling in Oak Bay).

Tuesday is our big day in Canada - get out and vote! We have all seen this video on TV or the Internet already, but I think it would be good to give it another view.

Have a great long weekend, and let's remember to be thankful for all of our blessings.

Wednesday, October 1, 2008

September Sales Numbers

That's the last time the average selling price of a single family home in Victoria sold for less than it did this September.

VREB has posted the sales numbers for September. They can be viewed on their website.