could we see a market shift?

(June 07, 2017 , posted in North Shore)


In West Vancouver, there were 63 sales in the month of May. The sales to new listings ratio was 31% which represents a buyer’s market. For May 2017 the sales to total active listings percentage was 14%, a decrease from 27% in May 2016. Sales for May 2017 were down by 39 units compared to May 2016.

The West Vancouver listing inventory has increased by 46 homes compared to April 2017 and increased by 87 homes compared to May 2016. The average price year-to-date (YTD) is down 2% compared to May 2016 and is down $10,018 compared to April 2017. The West Vancouver median price decreased by $235,000 from April 2017 to May 2017 ($3,460,000 to $3,225,000).

In North Vancouver, there were 139 sales in the month of May. The sales to new listings ratio was 51% which represents a seller’s market. For May 2017 the sales to total active listings percentage was 44%, a decrease from 64% in May 2016. Sales for May 2017 were up by 2 units compared to May 2016.

The North Vancouver listing inventory has increased by 60 homes compared to April 2017 and increased by 99 homes compared to May 2016. The average price year-to-date (YTD) is up 5% compared to May 2016 and is up by $8,187 compared to April 2017. The North Vancouver median price decreased by $211,000 from April 2017 to May 2017 ($1,900,000 to $1,689,000).

Detached Homes
West Vancouver - May 2017 (May 2016)
Sales 63 (102)
Sales YTD 243 (584)
Avg. Price YTD $3,693,261 ($3,775,908)
Active Listings 465 (378)
Median Price $3,225,000 ($3,140,000)
North Vancouver – May 2017 (May 2016)
Sales 139 (137)
Sales YTD 469 (704)
Avg. Price YTD $1,920,581 ($1,813,392)
Active Listings 314 (215)
Median Price $1,689,000 ($1,815,000)

Prepared by:
John Jennings
Royal LePage Sussex-John Jennings
604-790-1900
john@johnjennings.com
www.johnjennings.com
Twitter: @johnjenningswv
Facebook: www.facebook.com/westvancouverrealestate

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