Real Estate Board stats for September

So the numbers are in for September and it remains a weak market. only 458 sales.   This is better than

• Year total sales  single family home sales
• 2011     458           212
• 2010     377           203
• 2009     776           437
• 2008     485           286
• 2007     632           306
• 2006     593           261
• 2005    ~700
• 2004    ~650
• average  584           284

I only have graph that records total sales for September 2005 and 2004.

Sales for this September were about 23% below the average.  

The prices for single family homes remain in roughly the same area where they have been for several years, without the $50k drop in July and $75k rise in August, the price has been very steady.

Esquimalt had a median price of $380,000 for single family homes, though this was on only 7 sales.   It does mean that the majority of houses in Esquimalt sold for under $400,000, something that has not happened in four years.

The supply of units on the market in September remains at record levels.   With a bit more than 4900 units for sale, there is roughly a ten month supply on the market.   To put this in other terms, only 9.3% of the units on the market in September sold.  

This is a dramatically high level of housing stock on the market.    It is too high for the market to keep the prices where they are.