While West Vancouver's home buyer and seller activity in the first seven months of 2015 created somewhat balanced market conditions, we also experienced some upward pressure on prices.
West Vancouver Sales-to-Active Listing Ratio (SAR) currently sits at
- 0.16% for detached homes and has ranged between 0.11% to 0.23 % over the past seven months;
- 0.10% for townhomes with a monthly range from 0.10% to 0.42%; and
- 0.17% for apartments, ranging from 0.07% January, 0.23% February, 0.16% March, 0.17% April, 0.24% May, 0.16% June to 0.17% for July.
According to the Real Estate Board of Greater Vancouver and most industry experts categorize official market types as a
- Sellers Market when the Sales-Active Listings Ratio is 21% or greater,
- Balanced Market between 15 to 20% and
- Buyers Market 14% and less.
West Vancouver's Median Sale Price ends July at
- $2,500,000 for a detached home, up from $1,977,000 same month a year ago;
- $1,560,000 for a townhome; and
- $815,000 for an apartment compared to $744, 500 July 2014.
As West Vancouver's residential market entered the summer season detached house buyer activity weakened however still above the Ten Year Monthly Average of 62:
- 47 January sales,
- 118 February,
- 100 March,
- 108 April,
- 98 May,
- 103 June
- 81 end of July.
There were 4 January, 3 February, 12 March, 6 April, 7 May, 8 June and 2 July townhome sales and vacillating up and below the Ten Year Monthly Average of 4.
West Vancouver monthly apartment sales started with 7 in January, 23 February, 16 March, 17 April, 27 May, 16 June and 17 in July. Pretty much just above the Ten Year Monthly Average of 15.
Find below a visual to get a better grasp of West Vancouver's residential market to prepare yourself if you are planning to buy and or sell in our market!
Welcome your questions anytime: 604.916.6522 or firstname.lastname@example.org