There was yet another bump up in activity levels in the last week of the Vancouver real estate market (Week 5 - January 30th - February 6th, 2022).
Sales rose to 240 (from 224), New Listings reached 408 (from 394) and Total Active Listings increased to 2,470 (from 2,324).
Overall, the market inched deeper into a Seller`s Market with 2.57 Months-of-Inventory (down from 2.59).
In fact, EVERY sub-market was in a Seller's Market this past week except for one. That lagard is (unsurprisingly) Westside Houses. However, even that sub-market is showing signs of life...
Sales for Westside Houses increased dramatically (from 18 to 27) moving it to just 4.74 MOI. That's a Balanced Market and the strongest showing since way back in April 2021.
Condos and Townhouses are at the forefront of this surging market. Specifically in East Vancouver with the sub-markets of Condos (1.52 MOI) and Townhouses (1.71 MOI) leading the way.
This amount of activity is unusual this early in the year. We are seeing action that would be more typical at the beginning of March rather than February.
Vancouver West (Westside)
East Vancouver (East Van)