Steady market

This past May the Real Estate Board of Greater Vancouver processed 247 North Shore detached homes sales compared to 277 the month before, a decrease of -10.83%.  Both North Shore's North Vancouver's 149 and West Vancouver's 98 May home sale numbers were down,  -11.31% and -10.09% respectively from April 2015.

The average cumulative days on the market remained somewhat consistent from the month before, 27 days for North Vancouver homes and 44 for West Vancouver; 20 and 41 respectively in April.

May detached home inventory numbers in both North Vancouver and West Vancouver were down a bit compared to April; 275 versus 293 and 492 versus 516 respectively.

Even though sales and inventory numbers were less and days on market a bit more for both North Shore detached house markets, sale prices remain strong and competitive.  The median sale price of detached home in May in West Vancouver was $2,370,000, down from  April's $2,400,000 and North Vancouver was $1,300,000, up from $1,262,944 in April.

98% of West Vancouver and 79% of North Vancouver house sales year-to-date (January to May) sold more than $1,000,000.  32% and 70% respectively in the million dollar range.  The hottest price ranges ytd in West Vancouver was the million dollar range, 32% as well as the two million dollar range, 35% and North Vancouver the one million dollar band, 70%!

Check out North Shore house market nuances: