August 12 Market Update

MLS numbers update courtesy of the VREB via Marko Juras. These numbers are for the Victoria Real Estate Board's reporting area, including Sooke, Shawnigan Lake and the Gulf Islands.

	August 2013				August  2012
	Wk 1*	Wk 2	Wk 3	Wk 4
Unconditional Sales	181				462
New Listings	337				1025
Active Listings	4661				5034
Sales to New Listings	54%				45%
Sales Projection	568
Months of Inventory					10.9

*Week 1 being 7 weekdays

Strong start to the month with 16 sales/day compared to 13 last year, and fewer listings this year.   Looks like the recent mortgage tweaks were necessary to beat down a resurgence in this market.  Beginning of month predictor said 477 sales, but it seems the market is up for a late summer hurrah.