North Shore Real Estate Update
In West Vancouver, the sales to new listings ratio was 66% for the month of August compared to 26% in August 2008. The 66% for August 2009 represents a seller’s market. Sales for August 2009 are up by 44 units compared to August 2008. Also, the West Vancouver listing inventory has dropped by 136 units compared to last year for the same month. The average price year to date (YTD) was down 17% compared to August 2008. The West Vancouver YTD average price increased from $1,482,950 to $1,540,556 between July 2009 and August 2009 (it was $1,471,181 at the end of January 2009 as a matter of interest).
In North Vancouver, the ratio of sales to new listings was 87% for the month of August compared to 52% in August 2008. The 87% for August 2009 represents a very strong seller’s market. Sales for August 2009 are up by 79 units compared to August 2008. In addition, the North Vancouver listing inventory has dropped by 109 units compared to last year for the same month. The average price year to date is down 11% compared to August 2008.
|
Detached Homes |
2009 |
2008 |
|
|
|
|
|
|
|
|
|
Sales (August) |
58 |
19 |
|
Sales YTD (to August) |
431 |
387 |
|
Avg. Price YTD (to August) |
$1,540,556 |
$1,862,028 |
|
Active Listings (August) |
379 |
515 |
|
Median Price (August) |
$1,395,000 |
$1,248,000 |
|
|
|
|
|
|
|
|
|
|
100 |
56 |
|
|
738 |
659 |
|
Avg. Price YTD (to August) |
$870,769 |
$985,351 |
|
Active Listings (August) |
256 |
365 |
|
Median Price (August) |
$845,000 |
$835,000 |
|
|
|
|
Thanks for reading the NSREU!
John
John Jennings
Prudential Sussex Realty-John Jennings
604-790-1900
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