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North Shore Real Estate Update November 2010


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Blog by John Jennings | December 1st, 2010


In West Vancouver, the sales to new listings percentage was 87% for the month of November which is the same as the 87% in November 2009.  The 87% for November 2010 represents a strong seller’s market based on activity.  Sales for November 2010 were up by 10 units compared to October 2010.  The West Vancouver listing inventory has decreased by 61 homes compared to October 2010 and increased by 12 homes compared to November 2009.  The average price year to date (YTD) is up 17% compared to November 2009 and down by less than 1% compared to October 2010.  The West Vancouver median price decreased by $47,000 from October 2010 to November 2010 ($1,497,000 to $1,450,000).  The monthly average price in West Van for October 2010 was $2,042,596 and the monthly average price for November 2010 was $1,836,028, a decrease of $206,568. 

In North Vancouver, the sales to new listings percentage was 116% for the month of November compared to 96% in November 2009.  The 116% for November 2010 represents a very strong seller’s market based on activity.  Sales for November 2010 were up by 6 units compared to October 2010.  The North Vancouver listing inventory has decreased by 77 homes compared to October 2010 and increased by 54 homes compared to October 2009.  The average price year to date (YTD) is up 6% compared to November 2009 and down by $5,354 compared to October 2010.  The North Vancouver median price decreased by $43,500 from October 2010 to November 2010 ($880,000 to $836,500).  The monthly average price in North Van for October 2010 was $1,020,175 and the monthly average price for November 2010 was $904,975, a decrease of $115,200.

Detached Homes

2010

2009

 

 

 

West Vancouver

 

 

            Sales (November)

69

71

            Sales YTD (to November)

665

652

            Avg. Price YTD (to November)

$1,890,937

$1,603,625

            Active Listings (November)

395

383

            Median Price (November)

$1,450,000

$1,315,000

 

 

 

North Vancouver

 

 

            Sales (November)

83

92

            Sales YTD (to November)

895

1,047

            Avg. Price YTD (to November)

$957,355

$898,729

            Active Listings (November)

274

220

            Median Price (November)

$836,500

$865,000

 

 

 

The market is very active and positive, even though there was a drop in average prices.  The added activity in November is based on continued strong foreign investment in our city.

Wishing you and your families a wonderful Christmas season! 

Holly
Thanks! 

John      

 

John Jennings

Prudential Sussex Realty-John Jennings

604-790-1900

john@johnjennings.com

www.johnjennings.com

Twitter: @johnjenningswv