market conditions vary

(November 18, 2017 , posted in North Shore)


Real Estate market conditions continue to vary significantly based on property type.

West Vancouver October house sales were up a bit from October 2016, 29 and 23 respectively, down from September's 35 and approximately 54% below the 10 year October average of 64 sales. 
 
October new listings were up from last year, 149 versus 119 and approximately 13% above the 10 year Oct average of 132.
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West Vancouver total detached listings have steadily risen throughout the year and are now nearly back in line with historical levels, up only approximately 4% from the 10 year Oct average of 512.

In October, North Vancouver 81 house sales were up approximately 37% from same month last year 62 house sales, up 9.5% from September however just a bit below the 10 year October average of 89 house sales, 9%.

The result, West Vancouver detached house market remains firmly a buyer’s market and North Vancouver's edging there!

North Vancouver apartment sales jumped 71.% from last year and 50.6% above the 10 year October average. The increase in apartment sales came despite total apartment listings down 25.5% from last year and down 58% from the 10 year October average (398).  Consequently resulting in strong upward pressure on pricing!

In contrast October sale numbers for West Vancouver apartments  (condo's) were down 65% from the month before but comparable to October 2016 and down 62.5% from the 10 year October average (16).  However October WV apartment inventory levels were similar to the month before and October 2016 but 46% below the 10 year October average (110). 

North Vancouver townhome October sales rose 61% from the September, up 28% same month last year  and were 32% above the 10 year October average, 28.   October townhome inventory levels were a bit less than September, October 2016 and 50% below the 10 year October average.  As a result, NV townhomes, like NV apartments, experienced strong upward pressure on pricing month after month to date.

West Vancouver townhome sales were up from the month before, October 2016 and the 10 year October average; 6 , 4 , 1 and 4 respectively.  WV townhome October inventory fell to 15 from Septembers 20, up from October 2016's 11 and below the 10 year October average of 31.

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