transitioning


In North Vancouver total house sales were down 30% this April from April 2017 and down 16% from the Ten Year Monthly Average respectively.  Not unlike the West Vancouver house market, North Vancouver home sales experienced their fourth straight month of declines year over year.

New listings during April were up 49% from the same time last year, while total listings ended the month up 44.5% from April 2017.  

North Vancouver's detached home sales-to-active listings ratio (SAR) for April 2018 was 19%, 18% for March,17% for February and 10% in January depicts balanced market conditions.

Over a sustained period of time a balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.
 
In contrast West Vancouver's SAR was 6%, 5%, 5% and 3% for April, March, February and January respectively representing a Buyer's Market.

A buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline. Typically this is indicated by a sales-to-active listings ratio below 12%.

For more NV market numbers have a glance below:


Real estate is local. If you are thinking about buying OR selling in today's market welcome your contact to share with you the exact market conditions in your area.

Sincerely,
June Conway
Real Estate Specialist
for John Jennings
604-828-7888
june@johnjennings.com
Royal LePage Sussex - John Jennings
www.JohnJennings.com