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Here is a portion of the inventory chart from the Victoria Real Estate Board site, which can be found by visiting here. As you can see, inventory is on a big upswing at the moment, with the trend clearly pointing to a growing divergence between sales and units available on the market.

The conditions of a few years ago, when scarce inventory was snapped up immediately, leading to the biggest jump in prices of the last few years, no longer exists.

As prices continue to rise, it seems that with more choice, buyers are still paying a premium, but now they can be choosy. And for all the other people listing their properties without success?

Hmmm, at current prices, until you see a reversal of the trend toward increasing inventory, it would seem that some properties are going to be very difficult to sell, without pricing that undercuts the the other competitive property out there.

Despite increasing inventory, there seems to be little panic or forced selling at the moment. There has also not been any significant increase in the sales numbers since 2005, despite a large number of new units being added to the housing stock since then by way of construction and subdivision of existing housing. Until panic selling starts, prices will stay high, while inventory continues to climb.