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North Shore Real Estate Update


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Blog by John Jennings | July 8th, 2009


In West Vancouver, the sales to new listings ratio was 80% for the month of June compared to 29% in June 2008.  The 80% for June 2009 represents an active ­­­­­­­­­­­­­­­sellers market.  Sales for June 2009 are up by 53 units compared to June 2008.  Also, the West Vancouver listing inventory has dropped by 112 units compared to last year for the same month.  The average price year to date (YTD) was down 21% compared to June 2008.  The West Vancouver YTD average price increased marginally from $1,450,095 to $1,462,593 between May 2009 and June 2009 (it was $1,471,181 at the end of January 2009 as a matter of interest).  The median price has fluctuated between $1,175,000 and $1,220,000 over the last 4 months in West Vancouver.

In North Vancouver, the ratio of sales to new listings was 90% for the month of June compared to 38% in June 2008.  The 90% for June 2009 represents a strong sellers market.  Sales for June 2009 are up by 75 units compared to June 2008.  In addition, the North Vancouver listing inventory has dropped by 170 units compared to last year for the same month.  The average price year to date is down 15% compared to June 2008.  In the past month, the North Vancouver YTD average price has increased by over $21,000 and the median price has increased by $74,000. 

 

Detached Homes

2009

2008

 

 

 

West Vancouver

 

 

            Sales (June)

98

45

            Sales YTD (to June)

296

331

            Avg. Price YTD (to June)

$1,462,593

$1,866,086

            Active Listings (June)

432

544

            Median Price (June)

$1,220,000

$1,425,000

 

 

 

North Vancouver

 

 

            Sales (June)

153

78

            Sales YTD (to June)

523

528

            Avg. Price YTD (to June)

$845,549

$1,003,523

            Active Listings (June)

285

455

            Median Price (June)

$830,000

$863,000

 

 

 

Thanks!

John

 

John Jennings

Prudential Sussex Realty-John Jennings

604-790-1900

john@johnjennings.com

www.johnjennings.com