For the most part, the last week was a week of stability. Little changed from the previous week.
Sales edged higher to 224 (from 218). New listings jumped to 307 (from 279)...but total active listings fell slightly to 3,175 from 3,206.
Overall, the market tightened up a little bit. Moving slightly further into a seller's market with 3.54 MOI (from 3.68).
The hottest sub-market changed hands in the last week. East Van townhouses recaptured that title with a big uptick in sales (21 from 11) and 1.89 MOI. The only other sub-market with a MOI below 3 was East Van condos with 2.12.
East Van houses had the sharpest improvement. Sales more than duoubled from 15 to 32 pushing the MOI down to 3.09. As suspected, last week's numbers were just anomaly for this sub-markets it returned to it's regular torrid pace.
There was no change to the weakest sub-market. Westside houses continue to dominate that space. This week sales fell slightly to 23 (from 25) with a 6.89 MOI...and the only buyer's market in Vancouver.
We usually see a sharper decline in activity at this time of year as we approach the hoilday season...and the end of the year. This is, to no ones surprise at this point, an usual year.
While activity is higher than normal, I expect we will see it decline in the coming weeks. Holiday shopping anyone?
Vancouver West (Westside)
East Vancouver (East Van)