Week 36 – Market Update
It was yet another busy week for Vancouver real estate.
The typical pattern we usually see leading up to the Labour Day long weekend is one of subdued activity. In this unusual year, that typical pattern has been thrown out the window.
The last three weeks have been particularly strong. We set highs for the year LAST week for Sales (227) as well as Total Active Listings (3883). This dropped ever so slightly to 223 and 3863 in Week 36 (the week ending September 5th, 2020).
The ever so important Months of Inventory reached a pandemic low of just 4.28 last week but rose slightly this week to 4.33…overall still in Seller’s Market territory.
In terms of sub-markets, East Van houses and condos both hit highs for the years in regard to sales (38 and 41 respectively)…but all sub-markets had above-average levels of activity this past week.
I expect that we will see a greater number of listings coming onto the market in the coming weeks…as we put Labour Day (and summer) behind us. Given the amount of activity in the last few weeks, I would expect sales numbers to continue to improve as well.
Vancouver West (Westside)
East Vancouver (Eastside)