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North Shore Real Estate Update February 2013


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Blog by John Jennings | March 6th, 2013


In West Vancouver, there were 31 sales in the month of February.  This represents a buyer’s market with a 17% sales to new listings ratio.  For February 2013, the sales to total active listings percentage was 6% and for February 2012, it was 17%.  Sales for February 2013 were down by 37 units compared to February 2012.  The West Vancouver listing inventory has increased by 94 homes compared to January 2013 and increased by 107 homes compared to February 2012.  The average price year to date (YTD) is slightly higher than February 2012 and is down by $117,798 compared to January 2013.  The West Vancouver median price decreased by $100,000 from January 2013 to February 2013 ($1,750,000 to $1,650,000). 

In North Vancouver, there were 76 sales in the month of February.  This represents a balanced market with a 42% sales to new listings ratio.  For February 2013, the sales to total active listings percentage was 20% and for February 2012, it was 40%.  Sales for February 2013 were down by 27 units compared to February 2012.  The North Vancouver listing inventory has increased by 57 homes compared to January 2013 and increased by 120 homes compared to February 2012.  The average price year to date (YTD) is up 2% compared to February 2012 and up by $102,478 compared to January 2013.  The North Vancouver median price increased by $33,000 from January 2013 to February 2013 ($905,000 to $938,000). 

 

Detached Homes

2013

2012

 

 

 

West Vancouver 

 

 

            Sales (February)

31

68

            Sales YTD (February)

69

107

            Avg. Price YTD (February)

$2,341,623

$2,327,321

            Active Listings (February)

499

392

            Median Price (February)

$1,650,000

$1,850,000

 

 

 

North Vancouver

 

 

            Sales (February)

76

103

            Sales YTD (February)

128

160

            Avg. Price YTD (February)

$1,085,808

$1,064,728

            Active Listings (February)

375

255

            Median Price (February)

$938,000

$1,000,000

 

 

 

With inventory levels above historic averages and sales below historic averages, there are many opportunities in the market.  Please contact me if you would like to discuss how these trends can benefit you.

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