Weekly numbers courtesy of the VREB.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||71%||75%||71%||
|Months of Inventory||2.4|
Bit of a surprise increase in inventory this week due to a bump in new listings from 209 two weeks ago to 245 last week. Maybe a few extra people trying to sell their house before the moon blots out the sun for good. SFH prices relatively stagnant so far this month still while condos continue to increase. Sales are coming anywhere from 13% below list to 12% over ask (and one lot in Sooke that sold for 45% over ask). 25% of sales going for more than 1% over ask, 31% selling for within 1% of asking price, and 44% more than 1% under ask.
We’re running about 15% below last year’s sales rate, with inventory down 9%.