cheaprealty net

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.