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...

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...

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...

For the most part, the last week was a week of stability. Little changed from the previous week.

Sales edged higher to 224 (from 218). New listings jumped to 307 (from 279)...but total active listings fell slightly to 3,175 from 3,206.

Overall, the market tightened up a little bit. Moving slightly further into a seller's market with 3.54 MOI (from 3.68).

The hottest sub-market changed hands in the last week. East Van townhouses recaptured that title with a big uptick in sales (21 from 11) and 1.89 MOI. The only other sub-market with a MOI below 3 was East Van condos with 2.12.

East Van houses had the sharpest improvement. Sales more than duoubled from 15 to 32 pushing the MOI down to 3.09. As suspected, last week's numbers were just anomaly for this sub-markets it returned to it's regular torrid pace.

There was no change to the weakest sub-market. Westside houses continue to dominate that space. This week sales fell slightly to 23 (from 25) with a 6.89 MOI...and the only buyer's market in...

Both sales and new listings dipped this past week. Is it the start of the holiday season, or just a one-off? That's the question.

In the last six weeks, the sales numbers have been strong. However, one strong week has typically been followed by a weak week. This week may just be a continuation of that pattern...maybe.

Whatever the case, the sales number is still strong for this time of year (218 vs 240 in the previous week). We remain over the 200 sale threshold (where we've remained for the last 2.5 months).

New listings dropped dramatically from 352 to just 279. It looks like that number last week may have just been a flash in the pan. It's likely that we will see the new listing number continue to dwindle into the coming weeks.

Interestingly, total active listings rose (from 3,159 to 3,206). That's the first rise in listings in the last two months...although it wasn't significant, it is notable.

Our market remains in a seller's market with 3.68 months of inventory (up from 3.29). Condos...

October saw recent trends continue...going against what we often see at this time of year. Demand continued to rise, while supply shrank, further pressuring prices.

The real story here is demand. It's been unusually high all year (remember those record setting months in the spring?). While we are no longer setting records, the numbers remain unseasonably high.

October had 986 sales. That was about 5% over last month and over last year. But it was an astoishing 22% over the 10-year average.

Meanwhile, supply has been shrkinking.

In October there were 1,446 new listings. That was down 22% from the month before as well as the previous year. It was SLIGHTLY over the 10-year average (+2%).

Total active listings fll to 3,423. 10% lower than September and 22% below the previous year. It was also 8% below the 10-year average.

That combination means that there's continued upward pressure on prices throughout the city. The one exception is Westside houses (-1.3% month-to-month)...which makes sense...

Our recent trend continued in the last week of Vancouver real estate. Demand was strong and supply continued to shrink.

Sales did drop from 267 to 231. However, we remain well above the 200 mark...as we have now for the seventh straight week.

New listings, meanwhile, continue to trend lower. There were 302 new listings in the last week which was down from 321. Total listings also dropped to 3,255 from 3,384. That's the lowest number of active listings we've had since mid-August.

Overall, our market is in a seller's market with 3.52 MOI (up from 3.17 MOI in the previous week). All sub-markets EXCEPT westside houses found themselves still in a seller's market.

The westside house market is the only sub-market in buyer's market territory. This past week it was 6.32 MOI (up from 4.86). East Vancouver townhouses (1.63 MOI) and condos (2.14 MOI) were the hottest.

This remains a "hot" market with seller's mostly in control. The most activity continues to be in the more "affordable" price segments...and...

The trend that started just after Labour Day continued this past week.

Demand increased, while supply dwindled.

That trend broke in the previous week (Week 42), but it looks as though that was just a temporary blip.

Sales increased to 267 (from 218). Since the end of May, that was only the second time that sales were over 250.

New listings declined to 321 (from 344) and total listings fell to 3,384 (from 3,452). That's the lowest number of listings we've had since the beginning of July.

With a week like that, it's no surprise that every sub-market but one was a seller's market (overall, we had just 3.17 MOI). The one exception was for Westside houses...but it was the best week for Westside houses in months (4.86 MOI).

The hottest sub-markets were East Van condos (2.03 MOI) and Westside condos (2.6 MOI). East Van houses had one of their strongest weeks in months as well with just 2.62 MOI (jumping from 27 to 41 sales).

The lack of inventory continues to hamstring our market. It's unlikely...