one million dollars
December SFH median: the inventory overhang for high priced properties continues in Victoria.
.jpg "Modern House by pnwra from Flickr")
As of January 2, 2008, there were 160 single family homes valued at less than $536,000.00 for sale on the MLS in Greater Victoria. At the same time, there were 415 single family homes listed for sale with asking prices above the median price.
While the median reached an all-time high of $536,000 in December 2007, at the moment there are far more properties available above the median price than below.
The breakdown of single family home sales extrapolated from VREB stats for December 2007 is as follows:
$536 thousand or less = 93 sales.
At this rate, there are less than two months of sub median inventory currently available.
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