upward pressure on pricing

(November 15, 2017 , posted in North Vancouver Strata)

North Vancouver apartment sales were up approximately 16% from the month before , up 71% from October 2016 and 54% above the 10 year monthly average (81). 

The increase in apartment sales came despite total apartment listings down approximately 25% from October 2016.  

Sales to Active Listing Ratio, that is, absorption rate this October was 75%.  Over a sustained period of time anything above 20% is considered a Seller's Market leading to strong upward pressure on pricing.

No matter which way you look at it, North Vancouver apartment prices have been rising!

Average price
The average price is calculated by dividing the total dollar volume of sales by the number of sales. The average price is the simplest to explain but is not always the most accurate since it may be skewed by the mix of properties, such as more high-end or low-end sales will skew the number up or down.

Median price
In a list of housing prices from high to low, the median is the middle price.

MLS® Home Price Index
The MLS® HPI reports the price for an ‘economic bundle’ of housing features of a ‘typical’ house for a neighborhood, area or region. Modeled on the Consumer Price Index or CPI, it is considered to be the most accurate indicator of housing prices trends in a given region.

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