west vancouver's 2-million dollar phenomenon

(January 16, 2015 , posted in West Vancouver Homes)



$2,100,000 was the year-to-date (ytd), January to December 2014 median sale price for a West Vancouver detached home, $1,900,750 for 2013.

However, Vancouver West's $2,396,500 ytd detached home median sale price surpassed West Vancouver's $2,100,000.

The median price - the point at which half of the detached homes sold are above a price and the other half below - tipped over $2,000,000 in West Vancouver in 6 months of 2014 (and 4 months in 2013):
  • $1,856,500 ($1,753,000) in January,
  • $2,598,000 ($1,828,000) in February,
  • $1,999,000 ($1,780,000) in March,
  • $1,920,000 ($2,130,000) in April,
  • $2,265,500 ($1,797,750) in May,
  • $2,135,000 ($1,745,000) in June,
  • $1,997,000 ($1,948,000) in July,
  • $1,928,750 ($1,819,000) in August,
  • $2,142,500 ($2,155,000) in September,
  • $2,200,000 ($2,100,000) in October,
  • $1,927,500 ($1,882,500) in November and
  • $2,133,800 ($2,144,000) in December.
More than half of West Vancouver's 828 detached home sales in 2014 crossed the 2 million-dollar mark!





West Vancouver's detached house market conditions throughout 2014 edged between buyer and balanced market conditions with a year-to-date average of 15% Sales Ratio average, that is, 1.5 in 10 homes selling (and 13% for 2013):
  • 10% (10%) in January,
  • 14% (7%) in February,
  • 13% (12%) in March,
  • 16% (11%) in April,
  • 15% (12%) in May,
  • 18% (13%) in June,
  • 13% (13%) in July,
  • 9% (15%) in August,
  • 16% (13%) in September,
  • 16% (13%) in October,
  • 16% (19%) in November and
  • 18% (17%) in December.


Various analysts predict modest increase in total sales volume in the Vancouver area's detached house market in 2015 while prices might be flat or edge up slightly!

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