Week 45 – Market Update
The last week we saw further overall easing in the Vancouver real estate market. Sales slipped for the second week in a row (to 189 from 210) – and third of the last four. Overall listings rose very slightly (from 4,059 to 4,068…surprisingly new listings increased for the first time in the last month (to 361 from 327).
Once again the townhouse market led the strength. For the last three weeks it was well in Seller’s Market territory and that continued this week with Months of Supply at 3.68. East Vancouver Houses and Apartments were also areas of strength while Downtown Vancouver Apartments continued to lag.
It’s looking very much as though the market is cooling off as we head into the winter. As I’ve mentioned in recent weeks, this is VERY normal for this time of year. However, the significant bump in New Listings goes against this trend…it’s something that I’ll be watching in the coming weeks.
Vancouver West (Westside)
East Vancouver (Eastside)