Sept 16 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.

	September 2013				September  2012
	Wk 1	Wk 2	Wk 3	Wk 4
Unconditional Sales	96	224			416
New Listings	305	598			1210
Active Listings	4513	4556			5025
Sales to New Listings	31%	37%			34%
Sales Projection	403	470
Months of Inventory					12.1

Last year at this point we had 208 sales so we're running a bit ahead, but surprisingly not much, considering last year we were in the middle of the mortgage rule change hit.

Interesting discussion about pre-sales.   How can you evaluate whether a pre-sale is a good deal?   I find it hard to imagine that buying a condo that won't actually exist for another 2 years is anything but speculation.  How many people are buying the pre-sale because they just love the building versus thinking they are getting in at a good price and they can turn it over later?   How many people plan ahead 2 years to get into a microcondo?