After revving up for the last two months, the last week in the Vancouver real estate market (Week 8 - February 20th - 26th, 2022) was a bit slower.
This was the first week of 2022 to break the trend of increasing activity.
Sales dipped for the first time in 2022, going from 281 to 238.
Meanwhile, New Listings also fell from 431 to 401...and overall the Total Active Listings rose once again to 2,685 (from 2,580).
The result was that the market backed-off slightly, but is still quite firmly in a Seller's Market with 2.82 MOI (up from 2.30).
There is water-cooler chatter amongst realtors that the market is "cooling off". That may be true...but I don't yet see that reflected in these numbers.
While the numbers did back off slightly, they are still at extremely high-levels of activity and a blazing hot Seller's Market in just about every sub-market.
The hottest continues to be East Vancouver condos at 2.05 MOI...but condos across the city continue to be a hotpoint with demand far outstripping...