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North Shore Real Estate Update August 2013


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Blog by John Jennings | September 4th, 2013


In West Vancouver, there were 75 sales in the month of August.  This represents a seller’s market with a 63% sales to new listings ratio.  For August 2013, the sales to total active listings percentage was 14% and for August 2012, it was 5%.  Sales for August 2013 were up by 51 units compared to August 2012.  The West Vancouver listing inventory has decreased by ­­­51 homes compared to July 2013 and increased by 22 homes compared to August 2012.  The average price year to date (YTD) is down 3% compared to August 2012 and is up by $9,191 compared to July 2013.  The West Vancouver median price decreased by $138,000 from July 2013 to August 2013 ($1,938,000 to $1,800,000). 

In North Vancouver, there were 76 sales in the month of August.  This represents a strong seller’s market with a 76% sales to new listings ratio.  For August 2013, the sales to total active listings percentage was 21% and for August 2012, it was 13%.  Sales for August 2013 were up by 25 units compared to August 2012.  The North Vancouver listing inventory has decreased by 56 homes compared to July 2013 and decreased by 34 homes compared to August 2012.  The average price year to date (YTD) is down 2% compared to August 2012 and up by $2,987 compared to July 2013.  The North Vancouver median price increased by $70,000 from July 2013 to August 2013 ($940,000 to $1,010,000). 

 

Detached Homes

2013

2012

 

 

 

West Vancouver

 

 

            Sales (August)

75

24

            Sales YTD (August)

489

454

            Avg. Price YTD (August)

$2,293,096

$2,368,284

            Active Listings (August)

553

531

            Median Price (August)

$1,800,000

$1,898,000

 

 

 

North Vancouver

 

 

            Sales (August)

76

51

            Sales YTD (August)

771

706

            Avg. Price YTD (August)

$1,075,459

$1,103,484

            Active Listings (August)

362

396

            Median Price (August)

$1,010,000

$970,000

 

 

 

 

As you can see sales were up significantly from a year ago, which is a positive sign. If you have any questions regarding the market, please do not hesitate to call.

 

Thanks!

John      

 

John Jennings

Prudential Sussex Realty-John Jennings

604-790-1900

john@johnjennings.com

www.johnjennings.com

Twitter: @johnjenningswv

Facebook: www.facebook.com/westvancouverrealestate