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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.

I did a search for properties in the VREB area of the MLS (2008/02/09). Today there were 972 condos for sale! There were 812 single family homes listed. And there were 231 townhomes listed.

Only 262 condos were listed below the January 2008 median price ($305,000), while 710 were more expensive. So only 27% of the condos currently listed were priced below the most recent median price, while 73% are priced higher.

Put another way, around half the recent condo buyers were concentrated in the bottom 27% of the condo market.

No wonder luxury sellers like Bear Mountain have to scour the planet looking for deep pocketed buyers - local buyers have a lot of choices in the more expensive brackets.

I did a search for condos in the VREB area of the MLS (2008/01/30). Today there were 946 condos for sale!

Only 196 were listed below the December 2007 median price ($293000). Do the owners mostly figure their condos are better and they deserve more, or are there a lot of flippers who need more? Will they get the big dollars they seek?

I did a search for condos in the VREB area of the MLS (2008/01/28). Today there were 935 condos for sale! That's a lot of condos.

The neat image of Condo Planet was from the creative commons section of Flickr, and was published there by phirleh.

Well the numbers are in. While adding them to my spreadsheet, I came across what seems to be an anomaly - a huge jump in the number of listed condos on the MLS. Since the MLS recently adopted a new search mechanism - assuming it is accurate - the only explanation I can find for this big jump in inventory is there must have been lots of condos added to the MLS recently.