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Week 24 – Vancouver Real Estate Week in Review (June 7th – June 13th, 2020)

June 14, 2020

Week 24 – Market Update

Overview

This past week in the Vancouver real estate market was generally flat, with marginal signs of improvement. The general trend is that sales are increasing modestly along with total active listings.

For the most part, it would appear that we’ve found a balance between buyers and sellers.

Vancouver West (Westside)

The Westside showed the most consistent improvement week to week. Across the board, the Vancouver West market got better whether that was houses, apartments or townhouses…but only marginally so.

Sales rose in all three categories. Total listings increased, but only slightly (normal at this time of year) and days on market (DOM) either held firm or fell.

Weekly Stats - Vancouver West Houses - Jun 7 2020 - Jun 13 2020

Weekly Stats – Vancouver West Houses – Jun 7 2020 – Jun 13 2020
Weekly Stats - Vancouver West Apartments - Jun 7 2020 - Jun 13 2020

Weekly Stats – Vancouver West Apartments – Jun 7 2020 – Jun 13 2020
Weekly Stats - Vancouver West Townhouses - Jun 7 2020 - Jun 13 2020

Weekly Stats – Vancouver West Townhouses – Jun 7 2020 – Jun 13 2020

East Vancouver (Eastside)

This past week we saw improvements in the East Vancouver market. Most notably, in houses where sales increased while DOM (days on market) fell significantly.

Houses and Apartments improved marginally, but East Vancouver townhouses saw a reversal of last week’s improvements.

Weekly Stats - East Vancouver Houses - Jun 7 2020 - Jun 13 2020

Weekly Stats – East Vancouver Houses – Jun 7 2020 – Jun 13 2020
Weekly Stats - East Vancouver Apartments - Jun 7 2020 - Jun 13 2020

Weekly Stats – East Vancouver Apartments – Jun 7 2020 – Jun 13 2020
Weekly Stats - East Vancouver Townhouses - Jun 7 2020 - Jun 13 2020

Weekly Stats – East Vancouver Townhouses – Jun 7 2020 – Jun 13 2020

Downtown Vancouver

Downtown Vancouver wasn’t a hotspot.

Condos in the downtown core saw lacklustre demand in the past week. Sales slid, DOM increased slightly and total listings also increased.

The widening gap between average and median sales also indicate that a few high-end sales took place.

Weekly Stats - Downtown Vancouver Apartments - Jun 7 2020 - Jun 13 2020
Weekly Stats – Downtown Vancouver Apartments – Jun 7 2020 – Jun 13 2020
Weekly Stats - Downtown Vancouver Townhouses - Jun 7 2020 - Jun 13 2020
Weekly Stats – Downtown Vancouver Townhouses – Jun 7 2020 – Jun 13 2020

Summary

Overall, there were improvements in the Vancouver real estate market this past week. Generally, sales increased modestly. Listings rose and DOM fell.

I don’t expect that this pattern will shift in the coming weeks. We are likely to see continued marginal improvements as life continues to become a little bit more normal.