Week 34 – Vancouver Real Estate Week in Review (August 16th – August 22nd, 2020)

Week 34 – Market Update
Overview

Well, THAT took a quick turn.

After we had a dip in sales for the first couple of weeks of August, this past week reversed the trend and took a big jump forward. In fact, this past week saw the second highest sales in a week for the entire year (213 sales this week vs 219 in Week 10 just prior to the pandemic).

Meanwhile, we also saw the highest number of new listings hit the market for the entire year. We reached 424 new listings which is just the second time this year we’ve had more than 400 in a week.

With those numbers, we are seeing annual highs for activity in many market segments. East Vancouver is once again the most active.

After a setback last week, East Vancouver houses regained their crown as the most active with 33 sales and 12 of them over asking price…but East Van townhouses also had a strong performance.

Other areas of strength were seen in Westside houses condos and townhouses…and there was a solid showing for Downtown Vancouver condos as well.

One week doesn’t set a trend, but it may be that our summer vacation is over. It usually lasts beyond the Labour Day long weekend but (as with everything else) it could be different this year.

Vancouver West (Westside)

East Vancouver (Eastside)

Downtown Vancouver

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