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)