market shift

(August 06, 2017 , posted in North Shore)

DETACHED house prices

APARTMENTS prices

townhomes prices

2016 saw North Vancouver and West Vancouver house prices escalate till BC's provincial government introduced a 15-per-cent-tax on foreign home buyers in Metro Vancouver in response to the region's skyrocketing housing prices.  The tax was implemented at a time that the market had already begun to change but accelerated the softening through August 2016, with a sharp decline in sales across the North Shore.  Despite this significant drop in sales, prices are back or near to their pre-tax peaks, and in many cases higher!
Since the beginning of the year, sale activity has slowly picked up across all property types, yet continued well below 2016 levels.

detached house sales

apartment sales

townhome sales

The inconsistency between property sales and  property prices is something that should be watched with interest.
 
Welcome your contact to determine how best for you to move forward if a change is in mind!

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