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...

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The last week saw the market tighten up once again. We've been seeing unusually high levels of activity since the New Year began, and this past week continued that trend.

Sales rose to 281 from 270. That broke last week's record, once again the highest number of sales we've seen since back in May 2021.

New Listings (after declining last week) jumped to 431 (from 361). Total New Listings continued their consistent climb to 2,580 (from 2,511).

The result was that our market edged further into a Seller's Market with just 2.3 Months-of-Inventory (from 2.33).

The hottest sub-markets continue to be condos throughout Vancouver. Specifically, East Vancouver (1.49 MOI)...but also townhouses/duplexes in East Vancouver (1.68 MOI).

The sub-market that has lagged our market very consistently for the last couple of years has been Westside houses. This week marked a significant shift with a BIG jump in sales to 39 (from 21) and it moved into a Seller's Market (3.3 MOI) for the first time in nearly a year...

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Another week in the books and another week of the Vancouver real estate market getting stronger and hotter.

What's that mean?

Sales rose to 270 (up from 240), and new listings dropped to 361 (from 408). Total Active Listings climbed slightly to 2,511 from 2,470 the week before.

That's the highest number of sales we've had in the city since way back in May of 2021...and the first time that we've had a DECLINE in New Listings since the beginning of the year.

As you may have guessed, increasing demand (Sales) and declining supply (New Listings) moved us deeper into a Seller's Market. This past week we had 2.33 MOI (dropping from 2.57 the week before).

Every sub-market in Vancouver is a Seller's Market, except one. The hottest sub-markets are condos from one end of the city to the other (1.41 MOI in East Van for example), followed closely by townhouses (1.43 MOI in East Van).

The sub-market that saw the sharpest improvement in the last week was for East Van houses. Sales jumped from 24 to 36...

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Vancouver Real Estate – Monthly Market Update – Infographic – January 2022

January 2022 was an unusually active month in the Vancouver real estate market.

In a typical year, January is usually the slowest time. It's when we see the nadir of annual activity...and most years realtors take the opportunity to schedule their holidays in the month for that very reason.

As you probably know by now, the world is far from typical...and that has played havoc with all types of things, not the least of which is real estate.

There were 702 Sales (-7.99% Month-to-Month and +8.22% Year-to-Year). That's a whopping +34.5% higher than the 10-year average.

New Listings wer 1,461 (+138.24% M-to-M and +5.87% Y-to-Y)...down -7.7% from the 10-year average...and Total Active Listings were just 2,492 (-11.9 from the 10-year average).

The greatest activity is currently in condos and townhouses. Specifically, in East Vancouver but all across the city. Detached homes are lagging those markets...especially at the higher end of the market.

Generally speaking, the most active segments are the...

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There was yet another bump up in activity levels in the last week of the Vancouver real estate market (Week 5 - January 30th - February 6th, 2022).

Sales rose to 240 (from 224), New Listings reached 408 (from 394) and Total Active Listings increased to 2,470 (from 2,324).

Overall, the market inched deeper into a Seller`s Market with 2.57 Months-of-Inventory (down from 2.59).

In fact, EVERY sub-market was in a Seller's Market this past week except for one. That lagard is (unsurprisingly) Westside Houses. However, even that sub-market is showing signs of life...

Sales for Westside Houses increased dramatically (from 18 to 27) moving it to just 4.74 MOI. That's a Balanced Market and the strongest showing since way back in April 2021.

Condos and Townhouses are at the forefront of this surging market. Specifically in East Vancouver with the sub-markets of Condos (1.52 MOI) and Townhouses (1.71 MOI) leading the way.

This amount of activity is unusual this early in the year. We are seeing action...

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The past week of the Vancouver real estate market (Week 4 - January 23rd - 29th, 2022) was a busy one. Activity on all fronts continued to ramp upwards.

Sales increased to 224 (from 179). This marks the first time that sales breached the 200 level in 2022.

New listings jumped to 394 (from 370)...but Total Active Listings stayed flat at 2,324.

We continue to find ourselves deeply in a Seller's Market. Months-of-Inventory dropped from 3.25 down to just 2.59...numbers we haven't seen since back in April 2021.

Condos and Townhouses throughout the city are seeing immense demand...and little inventory. East Vancouver leads once more with condos there with just 1.53 MOI and townhouses 1.79 MOI.

Even Downtown condos have joined the party with 2.19 MOI.

The weakest sub-market is Westside Houses once again. While sales increased (18 from 13) and the MOI did decline, it continues to be in a Buyer's Market with 6.86 MOI.

Where to from here?

Without significantly more inventory, little will change. Demand...

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