Weekly stats update courtesy of the VREB via Marko Juras.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||73%||76%||
|Months of Inventory||
311 sales last week with only 385 new listings combined with some cancellations means there was only one additional listing added to the inventory. In the average year we would be adding a couple hundred listings from April to May.
The Teranet Home Price Index is also out for March, and oddly enough it’s down a tad over February. Probably just noise, and we should expect a larger jump in April to compensate. The Teranet does have a tendency to wander around for no particular reason. Vancouver and Toronto remain the only cities in the country with strong year over year price increases. We here in Victoria are simply caught up in the edge of the tornado.