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?