Week 40 – Vancouver Real Estate Week in Review (September 27th – October 3rd, 2020)

Week 40 – Market Update

Last week the market hovered just above Seller’s Market territory. This past week, sales slowed a little (down by about 10% to 224 from a 2020 high of 249) while new listings continued to rise (up to a 2020 high of 481 from 479). That meant we went from 4.18 months of inventory to 4.62…a solidly Balanced Market number.

And yet, the market isn’t uniform. We are seeing the most strength in East Vancouver where we’ve been in a Seller’s Market for the last 7 weeks…especially detached (houses) as well as apartments. The Westside market is a little slower, but the slowest market continues to be Downtown where both condos and townhouses are solidly in Buyer’s Market territory.

Once again, if you are looking for bargains in this market you need to be looking Downtown. That’s an area that has lost it’s allure through the pandemic, but it’s likely to come roaring back once we are able to make everyone feel safe.

I expect that we will continue to see higher than normal activity levels for this time of year for at least a few more weeks.

Vancouver West (Westside)

East Vancouver (Eastside)

Downtown Vancouver

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.