cheaprealty net

This is just a simple total: how many properties are available and in which price ranges, on a particular day, in the Victoria Real Estate Board area. I was thinking over time it might show where inventory is piling up or decreasing, or for that matter holding steady. So far I have done this a few times, this time the graph is starting to show some increases in certain price ranges.

There is some movement in the inventories; they are creeping upwards again. After a summer of brisk activity, it will be interesting to note if economic conditions encourage or discourage the usual bump in fall listings, or if the higher volume of sales so far this year has already taken care of some of those people who would otherwise have their houses sitting on the market in the fall.

At this time of year, it would be interesting if someone locally was collating and making available the days on market numbers for the local market like Rob Chipman does in Vancouver.

Some market watchers like Roger are making the point that in some prime districts, prices are now falling and days on the market are increasing. Subjectively, I have a feeling this is possible based on increased signage visible this summer and fall compared to the past few years - increased signage would tend to go along with more properties staying on the market for longer, and that would tend to lead to more price competition.

Anyway, despite the brisk sales and rising prices lately, I will hold to my bold and/or wrong prediction that this summer was indeed the top for Canadian and local real estate.
I will continue to watch the price range availability of property in Victoria for the next few months, in case anything useful shows up on this chart during the fall.