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North Shore Real Estate Update


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Blog by John Jennings | September 1st, 2010


In West Vancouver, the sales to new listings percentage was 46% for the month of August compared to 66% in August 2009.  The 46% for August 2010 represents a balanced market based on activity.  Sales for August 2010 were down by 10 units compared to July 2010.  The West Vancouver listing inventory has decreased by 23 homes compared to July 2010 and increased by 133 homes compared to August 2009.  The average price year to date (YTD) is up 19% compared to August 2009 and up by 2.3% compared to July 2010.  The West Vancouver median price increased by $285,000 from July 2010 to August 2010 ($1,275,000 to $1,560,000).  The monthly average price in West Van for July 2010 was $1,596,476 and the monthly average price for August 2010 was $2,224,619, an increase of $628,143.

In North Vancouver, the sales to new listings percentage was a healthy 63% for the month of August compared to 87% in August 2009.  The 63% for August 2010 represents a seller’s market based on activity.  Sales for August 2010 were down by 42 units compared to August 2009.  In addition, the North Vancouver listing inventory has decreased by 46 homes compared to July 2010 and increased by 91 homes compared to August 2009.  The average price year to date (YTD) is up 10% compared to August 2009 and down marginally ($2,600) compared to July 2010.  The North Vancouver median price remained the same at $840,000 from July 2010 to August 2010.  The monthly average price in North Van for July 2010 was $971,301 and the monthly average price for August 2010 was $933,484, a decrease of $37,817.

 

Detached Homes

2010

2009

 

 

 

West Vancouver

 

 

            Sales (August)

46

58

            Sales YTD (to August)

481

431

            Avg. Price YTD (to August)

$1,837,765

$1,540,556

            Active Listings (August)

512

379

            Median Price (August)

$1,560,000

$1,395,000

 

 

 

North Vancouver

 

 

            Sales (August)

58

100

            Sales YTD (to August)

673

738

            Avg. Price YTD (to August)

$961,054

$870,769

            Active Listings (August)

347

256

            Median Price (August)

$840,000

$845,000

 

 

 

Thanks!  

John      

 

John Jennings

Prudential Sussex Realty-John Jennings

604-790-1900

john@johnjennings.com

www.johnjennings.com

Twitter: @johnjenningswv