October saw excellent sales activity on the North Shore.  There were a very large number of asking price reductions; however the average sales price remained relatively constant.

In West Vancouver, we had 73 detached home sales for the month of October.  This is a 32% increase compared to the number of sales for October 2005.  For the year to date (YTD) we have sold just 4 fewer homes than we did in the same period of 2005.  The inventory of homes for sale in West Van has increased 16% from the record low levels of the same month last year.

The YTD average price for West Vancouver decreased slightly from $1,547,865 at the end of September to $ 1,541,010 at the end of October.

The median price for a West Vancouver house decreased from $1,285,000 in September 2006 to $1,255,000 in October 2006.

In North Vancouver, the number of sales increased from 90 homes sold in October 2005 to 103 homes sold in October 2006.  This is a 14% increase.  There have been 8 fewer sales for the year to date than there were in the same period of 2005.  The inventory of homes for sale in North Van has increased 15% compared to the record low levels for the same month last year. 

The average price (YTD) in North Vancouver increased slightly from $778,732 in September 2006 to $780,994 for October 2006.

The median price for a North Vancouver house was $745,000 for September 2006 and stayed at $745,000 for October 2006.

November should be an active month, please phone me if you have any questions about the market.