Weekly stats update courtesy of the VREB via Marko Juras.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||73%||
|Months of Inventory||
The madness continues unabated. Inventory is building but very slowly, and sales are keeping up the frenzy pace. A couple months ago I argued there was still a good opportunity to buy, but every week that goes by it’s harder to tell. A few friends are still looking for places and it’s desperate out there. Anytime I think there’s a reasonable listing available it sells for way over ask. I think Just Jack’s advice to concentrate on the ones that remain after a week or two might be a good strategy. You aren’t going to get a better deal (those listings aren’t selling for a reason), but at least you can do your due diligence before committing hundreds of thousands of dollars.