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North Shore Real Estate Update December 2010


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Blog by John Jennings | January 5th, 2011


In West Vancouver, the sales to new listings percentage was 142% for the month of December compared to 128% in December 2009.  The 142% for December 2010 represents a very strong seller’s market based on activity.  Sales for December 2010 were up by 1 unit compared to December 2009.  The West Vancouver listing inventory has decreased by 102 homes compared to November 2010 and decreased by 5 homes compared to December 2009.  The average price year to date (YTD) is up 17% compared to December 2009 and down by less than 1% compared to November 2010.  The West Vancouver median price increased by $25,000 from November 2010 to December 2010 ($1,450,000 to $1,475,000).  The total number of sales in 2010 was 715 homes with a 46% sales to list ratio (balanced market for the year) compared to 701 homes with a 54% sales to list ratio in 2009 (mild seller’s market for the year).

In North Vancouver, the sales to new listings percentage was 222% for the month of December compared to 165% in December 2009.  The 222% for December 2010 represents a very strong seller’s market based on activity.  Sales for December 2010 were down by 17 units compared to December 2009.  The North Vancouver listing inventory has decreased by 98 homes compared to November 2010 and increased by 24 homes compared to December 2009.  The average price year to date (YTD) is up 6% compared to December 2009 and down by $1,038 compared to November 2010.  The North Vancouver median price decreased by $18,500 from November 2010 to December 2010 ($836,500 to $818,000).  The total number of sales in 2010 was 944 homes with a 55% sales to list ratio (mild seller’s market for the year) compared to 1,113 homes with a 70% sales to list ratio in 2009 (seller’s market for the year).

 

Detached Homes

2010

2009

 

 

 

West Vancouver

 

 

            Sales (December)

50

49

            Sales YTD (to December)

715

701

            Avg. Price YTD (to December)

$1,882,220

$1,600,813

            Active Listings (December)

293

298

            Median Price (December)

$1,475,000

$1,200,000

 

 

 

North Vancouver

 

 

            Sales (December)

49

66

            Sales YTD (to December)

944

1,113

            Avg. Price YTD (to December)

$956,317

$902,110

            Active Listings (December)

176

152

            Median Price (December)

$818,000

$865,000

 

 

 


Happy New Year!! 

 

Thanks!  

John      

 

John Jennings

Prudential Sussex Realty-John Jennings

604-790-1900

john@johnjennings.com

www.johnjennings.com

Twitter: @johnjenningswv