MOI - VREB search - 16/08/08
This "Months Of Inventory" (MOI) snapshot was based on MLS searches done for the VREB area on August 16, 2008.
After a couple weeks away, I return to find not much has changed. Inventory continues to increase, albeit slowly. As bad as the July VREB numbers were, it looks like there hasn 't been any pick up in sales so far in August. Maybe August will be even worse? It seems the Times Colonist has jumped on that bandwagon now, anyway. Are they actually happily reporting the lowest BC house sales since the turn of the century? Read the story.
Meanwhile, single family home listings total 1508. Condo inventory is up to 1201. There are 440 townhouses available - a slight decrease. There are currently 368 million dollar plus properties listed. Expensive properties are now past the twenty months of inventory mark, as these types of sales have fallen off a cliff, and they can't get up!
For comparison, check out the previous inventory search here.
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