Week 48 – Vancouver Real Estate Week in Review (November 22nd – November 28th, 2020)

Week 48 – Market Update

This past week, things returned to normal.

We had a shocking jump in sales in the previous week, that didn’t follow through. That’s no surprise…as things returned to a more typical seasonal pattern as we edge closer to the holidays.

And yet, sales remained over the 200 mark (dropping from 231 to 204). We also saw a sharper drop in New Listings from 273 to 213 and Total Active Listings from 3,890 to 3,792.

Overall the market remains balanced…ever so slightly edging towards a Seller’s Market with Months of Supply sitting at 4.63.

We saw most micro-markets slow in lock-step…but one where sales didn’t fall was the Downtown Condo market. where bargain hunters found some success.

We should continue to see both demand and supply shrink in the coming weeks. But, there are opportunities right now for both buyers and sellers if you are patient.

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.