Listing inventory has been relatively stable through March and early April, and in the past 4 weeks, we have seen a trend of declining listing counts.  All things considered, we are enjoying an active spring market, with a good balance between new listings and sales:

Week Ending	5/8/09	5/1/09	4/24/09
New Listings	223	253	222
Sold Listings	197	179	196
Total Inventory	2628	2652	2783

Year to date, 101 properties over $2 mil have been sold, with 22 of those over $3 mil.  The highest price of a detached home sold this year is $11,300,000.  The highest price of a condo sold this year is $3.700,000.  The lowest priced property sold this year is $152,000, which is a leasehold bachelor apartment.  It is still near impossible to get a 1 bedroom (Freehold Strata) condo in the Westside at less than $250,000.

There is a fair bit of competition in the bottom end of the market, and my advice to buyers faced with a competitive bid is to go in as clean as possible, however, do not go without a subject to financing clause.  If it means losing the property, so be it.  We are hearing of some properties not appraising to the value of the offer, and therefore financing is denied.  This is a predicament you definitely don’t want to be caught in.