The Vancouver real estate market saw some signs of life return in the last week (Week 2 - January 9th - 16th, 2022).

Market activity is still subdued relative to "normal" but things are very quickly picking up after the holiday season.

Sales jumped to 147 from 97 the week before. New listings also continued to increase up to 272 (from 238).

Total active listings also edged higher to 2,222 (from 2,171).

The strong demand and limited supply moved us very quickly back into a seller's market. The months-of-inventory fell down to 3.78 (under 4 being a seller's market).

The strongest sub-markets were East Van Townhouses (a white-hot 1.31 MO) and East Van condos (2.67 MOI). Downtown condos saw a big jump in demand with MOI falling to 3.33 (from 5.5 the week before).

Our weakest sub-market was Westside houses (6.63 MOI). And while that market was still in buyer's market territory it has seen some of the most significant strengthening of any sub-market in the past two weeks...moving from 23.15 MOI...

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Vancouver Real Estate – Monthly Market Update – Infographic – December 2021

Winter is typically the quietest period in the Vancouver real estate market. That season begins with the month of December and the onset of the holiday season.

This past December certainly saw that expected decline in market activity.

Sales fell to 763 (-26% month-to-month and -9% year-to-year). While it was down in the most recent comparisons, that sales number was WELL above the 10-year average...28% over, in fact.

Meanwhile, new listings dropped significantly to 613 (-55% month-to-month and -11% year-to-year). This number was +19% over the 10-year average.

I believe that this is the story for December. Both sales and new listings were WAY above what we find is normal for the month...and yet, total active listings reached just 2,225 (-32% month-to-month and -26% year-to-year).

That active listing count is -13% the 10-year average...and the lowest number of listings that we've had in Vancouver in the last five years. It's not since December of 2017 (2,180) that we've had so few options...

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Here's your update for Week 1 of 2022 in Vancouver real estate (January 2nd - 8th, 2022).

We saw a rebound in activity levels across the board. Sales, new listings and total active listings all increased for (nearly) every sub-market.

Sales doubled from 48 to 97. At the same time, new listings skyrocketed to 238 from just 37.

...and yet, total active listings rose only slightly to 2,171 from 2,118. I believe that inconsistency is due to the fact we likely saw a lot of cancelled/expired listings to begin the year.

Our stay in a buyer's market was extremely short-lived (just 1 week). We went from MOI of 11.03 way back down to 5.6 this past week. As we move out of the holiday season in the next week or two, I expect this number to come further down and for us to reassume our position as a seller's market.

Once again, this increase in activity is to be expected. It's very normal for the low-point of activity to take place the week between Christmas and New Year...as it looks like it was this...

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Here's your update for the final week of 2021 in Vancouver real estate.

Unsurprisingly, this was a VERY quiet week. Traditionally, the week between Christmas and New Year's Day is the sleepiest of the year...and this week was no different.

There were just 48 sales in the last week. That's a low for the year, by FAR. The NEXT lowest number was 105 in Week 1 of the year.

At the same time there were just 37 new listings. Again, this is a low for the year...but a less dramatic one. The NEXT lowest number was 45, also in Week 1.

Total active listings dropped to 2,118. That's another low for the year, over 16% below the 2,465 low reached LAST week.

The result of all this inactivity is that we find ourselves in a BUYER'S MARKET for the first time in 2021 with 11.03 MOI (shooting up from 3.95).

Is this the beginning of a collapse in our market? Absolutley NOT. This is just a regular seasonal pattern. The most extreme one that we usually see.

No market could have been considered "hot" last week,...

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There are no surprises with the last week of the Vancouver real estate market. As expected, the holiday season is having a significant impact on market activity.

Every measure of the market has slowed dramatically in recent weeks...which is VERY normal for this time of year.

Sales dropped to 156 from 192. New listings caved to 66 from 187...and total active listings fell to 2,465 from 2,651.

Overall, we are STILL in a seller's market with 3.95 MOI (up from 3.45).

Unsurprisingly, nearly every sub-market weakened. Many dropped into a balanced market territory (East Van houses, Westside townhouses).

The hottest sub-market was East Van condos with 2.38 MOI. Although, an honorable mention to downtown condos for being the only sub-market to see an IMPROVEMENT in the last week (3.92 MOI from 4.15).

...and only one sub-market was in a buyer's market...no surprise there...as it's Westside houses (7.18 MOI).

The fact that sales have remained stronger in relative terms (vs the sharp drop in new listings)...

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The Vancouver real estate market is definitely seeing a holiday effect. Activity levels were subdued across the board.

Sales dipped slightly to 192 from 200.

New listings also fell to 187 (from 213). That's the first ime we've fallen below 200 new listings since the same time LAST year.

Active listings dropped to 2,651...the lowest level the city has seen since Week 2.

Despite this drop in activity we remain in Seller's Market with 3.45 MOI. In fact, we moved even further into a Seller's Market from 3.52 MOI the week before.

The hottest sub-markets remain East Van townhouses and condos. This week it's EV townhouses retaking the lead with 1.74 MOI on the back of an increase in sales from 14 to 18.

The weakest sub-market continues to be Westside houses with 5.91 MOI. However, that's a massive improvement over the 8.26 MOI from the previous week. In fact, it moves Westside houses into a balanced market for the first time in 2 months.

The next two weeks should see the market activity fall even...

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We continue to see higher activity levels than are typical for this time of year...BUT, activity is falling overall.

Sales clung to the 200-level this week, dropping from 226 the week before. We haven't seen the weekly sales number drop below the 200-level since the fall market began (1st week of September).

New listings edged slightly higher from 207 to 213. I'd call that relatively flat over the week...and well below the high of 492 we hit in the second week of September.

As a result, total active listings dropped for the 4th week in a row to 2,817 (from 2,878). That's the lowest number of listings we've had since Week 10 (Feb 28 - Mar 6).

As we've seen for most of this year, demand is still outpacing supply as we have just 3.52 months-of-inventory. That's solidly seller's market.

The hottest sub-market is once again East Van condos with 1.87 MOI. East Van townhouses (2.59 MOI) and Westside condos (2.6 MOI) weren't too far behind.

It's Westside houses that are the weakest sub-market with...

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The story continues to be heightened demand and lower supply...but really, it's all about the supply.

There were just 2,878 active listings last week. That's a significant drop from 3,064 the week before. The last time listings were this low was way back in Week 10 in the first week of March.

New listings came in at just 207. That's the lowest number we've seen in 2021 since Week 1!

Meanwhile, sales dropped to 226 (from 269). Yes, sales dropped but they remain over the 200 bar.

Overall, our market remains in a strong seller's market with just 3.18 months of inventory.

The hottest sub-market this week was East Vancouver apartments. EV condos regained the title off of townhouses/duplexes that slipped in sales this week.

...and it wasn't even close. Condos in East Van were white-hot with just 1.46 MOI. The runner-up was Westside condos with 2.78 MOI.

In fact, every sub-market remained in a seller's market except for one.

It's no surprise...can you guess which one?

Westside houses continue to...

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Vancouver Real Estate – Monthly Market Update – Infographic – November2021

The story continues to be heightened demand and lower supply...but really, it's all about the supply.

There were just 2,878 active listings last week. That's a significant drop from 3,064 the week before. The last time listings were this low was way back in Week 10 in the first week of March.

New listings came in at just 207. That's the lowest number we've seen in 2021 since Week 1!

The end of the year is not typically a very active period in the Vancouver real estate market.

As the holidays approach, and winter closes in, we usually see all activity slow. This year, however, appears to be bucking that trend.

Home buyer demand is well in excess of historical averages, while overall supply continues to shrink.

There were 1,026 Sales in the city in the month of November. That was +4.2% over the previous month and +22.9% over the previous year. But most significantly it was +34% over the 10-year average.

Total active listings fell to 3,105 (-12.1% m-to-m and -24.9% y-to-y). This was a significant...

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The story this week returns to a recurring theme; a lack of inventory.

Sales rose sharply to 269 (from 224). We'd been flirting with numbers at the lower end of the 200s. This is just the second time we've had sales this high in the last 3 months.

New listings fel to 253 (from 307). That's the lowest number of new listings we've had in the last 3 months...and it's likely a number that we'll see continue to drop in the coming weeks as the holidays approach.

Total active listings fell to 3,064 (from 3,175). That's the lowest we've had supply since way back in mid-March of this year.

With demand rising, and suppply dropping we movd further into a seller's market. Months-of-inventory dropped to 2.85 from 3.54.

East Vancouver remains the hot-point of our market. This week, it was led by East Van townhouses with just 1.54 MOI. Followed closely by EV condos (2.1 MOI) and EV houses (2.51 MOI).

The sharpest move was made downtown. The downtown condo market wasn't the strongest market, but it did...

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