Weekly Vancouver Real Estate Update - Week 19
Sales (demand) remains high but it’s eased off a bit. Overall sales reached 299 in Vancouver this past week. That’s the first time we dropped below 300 sales in a week in the last 5 weeks (since 270 back in Week 14).
New Listings continue to come on strong. They edged higher from 563 to 578 in the past week. We’ve been flirting with 600 for the last month but have yet to hit that number.
Total active listings continued to rise going from 3,571 to 3,721. That now puts us at an overall Months-of-Inventory of 3.11…still a very hot seller’s market. But, the trend in recent weeks is moving us towards more of a balanced market.
The hottest micro-market remains East Vancouver condos. That market has a white-hot MOI of 1.67. Westside Townhouses/Duplexes also remain strong with 2.48 MOI.
East Van Townhouses/Duplexes saw the biggest decline in activity. Sales fell from 20 to 13, the lowest number of sales since late-January. Westside Houses find themselves solidly in a balanced market with 5.92 MOI. Sales remain strong, but new listings have been heaviest here for the last few weeks.
It’s clear that the excessive demand we saw 4-6 weeks ago has eased off a bit. Sales numbers remain at extremely high levels, but supply is building as we are in the midst of a strong listing season.
Seller’s remain in control, but they must be realistic to be successful. At the same time there are opportunities for buyers…but the most desirable properties are still selling quickly and with continued competition.
Vancouver West (Westside)
Vancouver West – Houses – Weekly Vancouver Real Estate Market Update – Week 19 (May 8th, 2021)
Vancouver West – Townhouses – Weekly Vancouver Real Estate Market Update – Week 19 (May 8th, 2021)
Vancouver West – Apartments – Weekly Vancouver Real Estate Market Update – Week 19 (May 8th, 2021)
East Vancouver (Eastside)
East Vancouver – Houses – Weekly Vancouver Real Estate Market Update – Week 19 (May 8th, 2021)
East Vancouver – Townhouses – Weekly Vancouver Real Estate Market Update – Week 19 (May 8th, 2021)
East Vancouver – Apartments – Weekly Vancouver Real Estate Market Update – Week 19 (May 8th, 2021)
Downtown Vancouver
Downtown Vancouver – Townhouses – Weekly Vancouver Real Estate Market Update – Week 19 (May 8th, 2021)
Downtown Vancouver – Apartments – Weekly Vancouver Real Estate Market Update – Week 19 (May 8th, 2021)
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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