Weekly Vancouver REAL ESTATE Market Update - Week 42 - October 10th - October 16th, 2021

he last week of the Vancouver real estate market saw a momentum shift (Week 42 - Oct 10th - 16th).
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🤪 Is it time to panic? NO!
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What we'd been seeing in recent weeks was a steady rise in demand, while supply declined.
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THIS week, demand actually wavered dropping from 248 sales to 218. Meanwhile, new listings fell from 344 to 327. 💯
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There was no significant increase in the overall listing inventor...and while the market is still technically in a Seller's Market, it is flirting with a balanced market (3.96 MOI).
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🔥 The hottest sub-markets remain East Van condos (2.13 MOI) and townhouses (2.0 MOI). Westside houses improved, but continue to be the weakest sub-market with 7.63 MOI.
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...but there was also one sub-market that slowed the most in the past week. ❄ You'll need to check the blog post to find out which one!
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This could very well just be a one-off, or it could be the tipping point into a slower winter market. Anecdotally, I know that there are many frustrated buyers out there...some of those buyers may be deciding to wait until more options come onto the market.
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Unfortunately, I don't see the lack of inventory (at least, quality inventory) changing any time soon.
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#marketupdate #weeklyupdate #vanre #yvrre #vancouverrealestate #vancouverrealtor #royallepage #realtorsofinstagram #buyingahome #sellingahome #knowyourmarket

Видео Weekly Vancouver REAL ESTATE Market Update - Week 42 - October 10th - October 16th, 2021 канала Sebastian Albrecht - Vancouver Realtor