After a brief bump in new listings, this fall market has been characterized by a lack of options. The first week of September saw nearly 500 new listings come onto the market...but instead of stabilizing or raising, new listings have done nothing but decline for the last four weeks (dropping to 327 this past week).
Meanwhile, sales aren't setting the world on fire. But, they have been steady for the last month. Sales increased from 230 to 248 in the last week.
Overall, active listings hit 3,446. That's the third consecutive week that they've DECLINED. Unusual, for this time of year and an indication of the strength in demand.
The general pattern for the last month is that the market has been moving further and further into a seller's market. Buyer demand is steady, but more than anything it is the supply side that is limited.
If you are looking to buy right now, you will find that almost every sub-market is in a seller's market. That's true especially for everything in East Van (even houses) but especially East Van condos (just 1.84 MOI).
The only exception to this is Westside houses. After seeing numbers improve for a couple of weeks, it slid further into a buyer's market with just 20 sales and 8.9 MOI.