Week 41 – Market Update
This past week the overall market remained in Balanced Market territory. The months of inventory edged down slightly to 4.45 from 4.62. Sales rose to their 2nd highest weekly level of the year (234) while New Listings fell nearly 10% to 441. Overall listings rose marginally from 4141 to 4169.
All micro-markets were in a Balanced Market. The greatest level of improvement and activity was seen for Apartments. Specifically, on the Westside of Vancouver where Sales rose from 46 to 60 (the highest level of the year).
House sales remained fairly consistent across the City but sales numbers have fallen for the last couple of weeks. East Vancouver detached continues to be hot with nearly 50% of sales happening in multiple offers.
The Downtown market is once again the lagard. Although Sales did improve for the first week after three straight weeks of declines.