Victoria and the MLS - Price Ranges.

By Greg - Posted on August 8th, 2007

Snapshot-August82007-Vic-MLS.gif

Sorry for the time away, a few problems with the database have proven how valuable it is to save things. On the other hand, it has also shown that putting them back together is no piece of cake either. Anyway, not sure what to make of the MLS lately. When I search Victoria listings, either everything has sold, or the results being produced now are incomplete, because they do not appear to match up with the numbers that VREB is publishing for the local market, for that matter.

Anyway, since my former habit of tracking sales inventory is now in the wobbles of uncertainty, I thought I would just try something different and just go ahead and search everything listed, without worrying about what or where it is - just search all the listings, and see what shows up.

Interestingly, while VREB 7 days ago said that there were over 3400 properties for sale in Victoria at the end of July 2007, only 2,163 properties show up in the MLS when searching all listings in all price ranges today. Any theories on where the other 1300 listings are hiding? Is it all preconstruction inventory? Even adding the sales from July to the current inventory to get the total doesn't add up.

Are listings now being held privately off the MLS in greater numbers, or is the new search functionality of the MLS woefully indadequate? Anyway, as of Thursday, August 8, 2007, there were 2163 properties listed in all price ranges on the MLS in the Greater Victoria area.

I thought it would be interesting to look at a breakdown of how many properties are available, and which price ranges have a few or many properties in them.

Let's see where the buyers have the most inventory to look at, if they are stuck in a particular budget or price range. Amazingly, more than 10% of the properties currently for sale sit priced at more than a million dollars.

Have a look at the graph. Feel free to add any comments.