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"Months Of Inventory" (MOI) for the VREB area, based on MLS searches of listings April 22, 2008.

Was the previous inventory jump an anomaly, or do the drops we see this time reflect a change of the trend?

The above median single family home listings have dropped from 913 to 824, since the last time I checked on April 16, 2008. The overall number is still up from where it was on April 10, 2008.

The total number of condos for sale on the MLS (1006) has also declined quite a bit since April 16, 2008.

"Months Of Inventory" (MOI) for the VREB area, based on MLS searches of listings April 16, 2008.

The biggest jump has been the above median single family home market, going from 791 to 913 listings in just under a week.

According to at least one realtor source, there are now 4000+ listings in the VREB area.

Interestingly, the total number of condos for sale on the MLS (1080) has declined a little bit since April 10, 2008, at the same time the percentage of above median listings has decreased while sub median listings have jumped - from 304 to 329. So condos appear to be getting cheaper.

Townhouses? This is a market segment where the inventory just keeps growing.

Well, here is an open thread for your comments on the real estate scene lately. As of today, a search of the MLS in the VREB area found 1083 condos. The breakdown shows 312 were listed below the March median price of $300,000, while the other 771 were listed higher. Grand total on MLS is now 1083. So this inventory is still growing every day.

A search of Craigslist found 136 condos listed for sale. As usual, by the time you click this link the number could go up or down a bit. But probably up.

Some other interesting stories to consider and maybe comment on:

I did a search for condos in the VREB area of the MLS. For April 10, 2008, there were 1074 condos for sale!

Another 138 condo listings were found at Craigslist - the number of condos offered there continues to grow and grow. Mind you, by the time you click the link, the number could go higher!

The attached graph shows results of an inventory overview search of the MLS, for the Victoria Real Estate Board area (10/04/08).

Inventory is up quite a bit since the last time I did this about six weeks ago, but even so, inventory may not be growing quite as much as was expected by the bears.