Hey Fish, any data from the Okanagan and Sunshine Coast for December?
Totals include variables in any given, due to preceding month's collapsed sales and deleted listings. e & oe
Sales 31 New Listings 87 Current Inventory 766 Sell/Inv. Ratio 4.05% Days to Sell 166 Average Price $196,066 Median Price $186,500
Sales 21 New Listings 51 Current Inventory 389 Sell/Inv. Ratio 5.40% Days to Sell 121 Average Price $324,183 Median Price $310,000
Sales 6 New Listings 43 Current Inventory 541 Sell/Inv. Ratio 1.11% Days to Sell 197 Average Price $297,300 Median Price $242,899
Sales 96 New Listings 179 Current Inventory 1,138 Sell/Inv. Ratio 8.44% Days to Sell 108 Average Price $451,130 Median Price $424,625
Ratio of Sales vs Inventory 5.43%
You don't need me to tell you that those sell/list ratios add up to enormous MOIs which can only be resolved by more buying or a sellers strike.
They don't have December 2010's numbers up (I couldn't find them anyway) but there are big drops compared with January 2011 prices. December is an oddity, so we won't say that the OK is crashing....yet... just that it is under some 'price pressure'.
Here are some nice graphs from Victoria
SFH average prices are now under December 2009 levels and Townhomes are really in a down-trend.
As for the Sunshine Coast. Almost no SFH sales in December - barely into double digits - while 390 sit on the books. However it was December, so volume is expected to be light. A single solitary SFH sale so far in 2012. (note my Sunshine Coast analysis ends at Pender Harbour /Egmont)