Week 31 – Vancouver Real Estate Week in Review (July 25th – July 31st, 2021)

Week 31 of the Vancouver real estate marekt (July 25th - July 31st, 2021) held some surprises. What would surprise no one is that most indicators showed our market slowing...EXCEPT sales (demand).

Sales actually rose from 224 to 230. That's not a big jump, but it does show demand remains. Meanwhile, new listings dropped to a low for 2021 from 293 to 242.

The result is that active listings (total inventory) fell from 3,792 to 3,604. Months-of-inventory, dropped from 4.23 to 3.92 which puts Vancouver in a seller's market (just barely).

Shockingly, that's the first time since Week 10 (the end of February) that we saw an improvement in the MOI for two consecutive weeks.

I suspect that we won't see a third. The fact that this past week coincided with the end of a month will have boosted the MOI number (we always see a peak in listing expiries at the end of a month...which lowers total active listings temporarily).

The hottest micro-markets continue to be stratas. Condos in particular in East Vancouver, but also on the Westside. And even downtown condos found themselves in a seller's market (for the first time since mid-May)

The market for houses remains the slower market segment. While Westside houses continue to show the most weakness (7.39 MOI) it's East Van houses that had the biggest slowdown in the past week (going from 3.42 MOI to 4.91).

We should continue to see things stay quiet through the coming weeks. The fact that sales are staying firm and active listings are dropping, though...are indicators to me that we may have a very active fall market.

City of Vancouver – Weekly Vancouver Real Estate Market Update – Week 31 (July 31st, 2021)

Vancouver West (Westside)

Vancouver West – Houses – Weekly Vancouver Real Estate Market Update – Week 31 (July 31st, 2021)
Vancouver West – Townhouses – Weekly Vancouver Real Estate Market Update – Week 31 (July 31st, 2021)
Vancouver West – Apartments – Weekly Vancouver Real Estate Market Update – Week 31 (July 31st, 2021)

East Vancouver (Eastside)

East Vancouver – Houses – Weekly Vancouver Real Estate Market Update – Week 31 (July 31st, 2021)

East Vancouver – Townhouses – Weekly Vancouver Real Estate Market Update – Week 31 (July 31st, 2021)

East Vancouver – Apartments – Weekly Vancouver Real Estate Market Update – Week 31 (July 31st, 2021)

Downtown Vancouver

Downtown Vancouver – Townhouses – Weekly Vancouver Real Estate Market Update – Week 31 (July 31st, 2021)

Downtown Vancouver – Apartments – Weekly Vancouver Real Estate Market Update – Week 31 (July 31st, 2021)



Comments:
No comments

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.