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North Shore Real Estate Update August 2012


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Blog by John Jennings | September 5th, 2012


In West Vancouver, there were 24 sales in the month of August.  This represents a buyer’s market with a 22% sales to new listings ratio.  For August 2012, the sales to total active listings percentage was 5% and for August 2011, it was 18%.  Sales for August 2012 were down by 56 units compared to August 2011.  The West Vancouver listing inventory has increased by 97 homes compared to August 2011.  The average price year to date (YTD) is up 8% compared to August 2011 and up by $31,083 compared to July 2012.  The West Vancouver median price increased by $46,000 from July 2012 to August 2012 ($1,852,000 to $1,898,000). 

In North Vancouver, there were 51 sales in the month of August.  This represents a balanced market with a 42% sales to new listings ratio.  For August 2012, the sales to total active listings percentage was 13% and for August 2011, it was 26%.  Sales for August 2012 were down by 32 units compared to August 2011.  The North Vancouver listing inventory has decreased by 10 homes compared to July 2012 and increased by 120 homes compared to August 2011.  The average price year to date (YTD) is up 7% compared to August 2011 and up by $5,180 compared to July 2012.  The North Vancouver median price decreased by $23,000 from July 2012 to August 2012 ($993,000 to $970,000). 

 

Detached Homes

2012

2011

 

 

 

West Vancouver

 

 

            Sales (August)

24

80

            Sales YTD (August)

454

898

            Avg. Price YTD (August)

$2,368,284

$2,183,789

            Active Listings (August)

531

434

            Median Price (August)

$1,898,000

$2,010,000

 

 

 

North Vancouver

 

 

            Sales (August)

51

73

            Sales YTD (August)

706

891

            Avg. Price YTD (August)

$1,103,484

$1,030,023

            Active Listings (August)

396

276

            Median Price (August)

$970,000

$865,000

 

 

 

 

Thanks for reading this update!

 

John      

John Jennings

Prudential Sussex Realty-John Jennings

604-790-1900

john@johnjennings.com

www.johnjennings.com

Twitter: @johnjenningswv

Facebook: www.facebook.com/westvancouverrealestate