Week 26 – Market Update
This was another good week for the Vancouver real estate market. That is, at least in relative terms.
Activity is significantly below what is normal for this time of year. However, across the board the trends are positive. We are seeing a return to sales levels not seen since pre-pandemic.
That being said, we need to watch to see what happens in coming weeks. This boost in activity COULD be due to buyers trying to get deals done prior to new CMHC lending rules coming into effect this week.
Vancouver West (Westside)
Westside houses are saw sales return to levels more in line with early spring pre-pandemic numbers. They increased this past week from 16 to 25. Inventory levels, meanwhile decreased (marginally) for the first time in a month.
Westside apartments didn’t fare quite as well. Sales fell for the first time in a couple of weeks from 40 down to 29 and inventory levels inched up from 651 to 675. Although, the units that did sell sold much...