It is a seller's market when sales are more than 20% of overall inventory over a sustained period. In North Vancouver that figure was 87% in June for North Vancouver townhomes, 35% apartments and 58% for detached homes.
Since the beginning of the year the monthly sales-to-active listings ratio trend for North Vancouver:
- townhomes has been 22% in January, 46% February, 58% March, 58% April, 51% May and 87% in June;
- apartments 16%, 21%, 31%, 23%, 27% and 35% respectively; and
- detached homes 29%, 42%, 60%, 55%, 50% and 58%.
Even though North Vancouver townhome market conditions favor sellers' they have not experienced as high as an escalation in prices that North Vancouver detached homes have.
Since January 2006 North Vancouver MLS® HPI Benchmark Price by June of 2015 for
- townhomes were up 32%,
- condominiums up 24% and
- detached homes up 57%.
At this time, North Vancouver townhome options are limited to approximately 10 of the 35 neighborhoods and the past six months represent 15% of North Vancouver's residential sale activity.
Here's an easy way to get a grasp of the current trend of North Vancouver's townhome market: