Tuesday, August 3, 2010

We are not amused....!

That apparently was the way Grand old Queen Victoria used to indicate her displeasure with something.

Well, her namesake city seems to be in the same predicament (unless you are waiting to buy of course). The Victoria REB July numbers are out.

527 sales compared to 933 in July of last year.

Average prices down in all categories..here..especially town homes which look to be on a steady down-trend.

The blurb they put out out tries to put the best spin on it...16 sales over $1 Million, even mentions one over $1 M in the Gulf Islands. Since when is one sale over $1 Million newsworthy, used to be a common occurrence.

No mention of the fact that the Gulf Island SFH average tumbled 12% from the 6 month average.

527 sales, 4477 listings = 8.24 MOI at this rate.

Remember slow and steady is what we want to keep the politicians from using our money to prop things up again.