Week 18 – Vancouver Real Estate Week in Review (April 25th – May 1st, 2021)

Week 18 – Weekly Vancouver Real Estate Update



Overall, the market remained in a strong seller’s market. We edged slightly lower in sales (from 317 to 313) and essentially flat in new listings (563 from 562 the previous week). Total active listings hit 3,571…and we find ourselves with 2.85 months-of-inventory.

It’s evident that there have been some pockets of relative weakness in our market. Specifically, westside houses are the only sub-market now in balanced territory (4.78 MOI). That’s mainly due to heightened levels of listings coming onto the market in the last six weeks…sales remain elevated.

At the same time, there are quite a few micro-markets that remain extremely hot. It’ll surprise no one that East Vancouver townhouses (1.91 MOI with 70% selling over asking price) and condos (1.57 MOI) continue to be the hotpoints in Vancouver.

There has been a lot of talk about a slowdown in our market in the last couple of weeks. I think it’s clear that the throttle has come off a LITTLE bit…but it is still a very intense market for just about every sub-market across Vancouver.

The main difference between this past week and 5-to-6 weeks ago is that new listings have remained at elevated levels. As I’ve mentioned before, this is NORMAL for mid-April through to mid-June when we usually see the peak listing activity for the year.

When April stats are announced in a day or two we are going to see that sales remain WAY above what’s normal for this time of year…while listing inventory is about typical for the 10-year average.

…make no mistake, at 2.85 MOI we are still in a seller’s market.

City of Vancouver – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)City of Vancouver – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)

Vancouver West (Westside)

Vancouver West - Houses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)Vancouver West – Houses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)Vancouver West - Townhouses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)Vancouver West – Townhouses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)Vancouver West - Apartments – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)Vancouver West – Apartments – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)

East Vancouver (Eastside)

East Vancouver - Houses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)East Vancouver – Houses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)East Vancouver - Townhouses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)East Vancouver – Townhouses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)East Vancouver - Apartments – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)East Vancouver – Apartments – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)

Downtown Vancouver

Downtown Vancouver – Townhouses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)Downtown Vancouver – Townhouses – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)Downtown Vancouver – Apartments – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)Downtown Vancouver – Apartments – Weekly Vancouver Real Estate Market Update – Week 18 (May 1st, 2021)

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