As we head into the summer season, we haven’t seen a great stretch of weather. Weather all over the world seems to be abnormal these days, but we’ll take our weather any day compared to what is out there. The latest stats show prices inching up, but nothing like the Vancouver/Victoria market. Volume in single family homes stayed steady from last year but where we see a big difference is in the year to date numbers verses this time last year. Buyers have much more confidence this year compared to last. The 12 month rolling average for lot sales shows a 169% increase in units sold. (172 lots vs 64 last year) The rest of the market, while not as dramatic still shows a 44 % increase in sales volume for single family homes, 80 % increase in apartments, 68 % increase in patio homes and a 14 % increase in volume for the townhouses. The April 2008 average price a home sold for ($373,134) took 2 years to come back up to those levels. May’s numbers show a 14% increase from last year at $388,497. We hear out there from various sources that the market is a little sluggish. We have seen this type of market over the years and those homes which are sharply priced usually sell in a decent time frame. Inventory levels suggest Buyers have a good selection and do not have to rush into making a decision. Every once in a while though when a great listing comes along you can’t wait too long. We recently had a listing that went into a 3 way multiple offer in the first week! We wish we saw that more often but the norm right now is to see homes sell in 1 ½ to 2 months on average. Whether you are buying or selling, Dave, Brian, Mark & Debbie are here to help. Have a wonderful summer and remember the sun screen!