Week 51 – Market Update
Overall, recent trends continued. Our market is easing into the winter holidays. Taking a breather as is typical for this time of year.
Total Sales in the last week remained below 200 at 193 (falling just 4 from the week before). There was a much more significant drop in New Listings (down to 148 from 202 the previous week) and Total Active Listings (3,259 down from 3,419 the week before).
The most active market remains Townhouses. While Sales did slow considerably from the crazy week before, it remains in a Seller’s Market. Interestingly, it’s the only market segment that saw New Listings outstrip Sales.
The hottest micro-markets were for East Van Houses and Downtown Condos. These two micro-markets were the only ones to see their sales increase from the previous week. In fact, the 61 Sales Downtown were that market’s high of the year. Westside + Eastside Condos also had a good week.
The coolest market segment in the last week was Westside Houses. We’ve seen 3 consecutive weeks of slowing sales (from 33 to 15 and now to 11)…but I expect this is primarily due to the holidays.
It appears that buyers are still active, snapping up deals where possible…but the market is following it’s typical seasonal patter overall.
Vancouver West (Westside)
East Vancouver (Eastside)