And now the actual 2008 (two month) figures - North Van detached sold down 13% from last year, attached (t/homes) down 16% and apartments up 6% vs ’07. Detached average prices +23% and inventory now up by 12%. Average prices up 10% (t/hse) and up by 25% (apts). Inventory (t/hse) 14% higher than ‘07 and (apt) up from ’07 by 53%.
This follows the overall inventory pattern but seems to be evident here “in spades” – somewhat attributable to a good supply of “new construction” units on the market. In West Vancouver, detached number of sales up 10%. Average price up 21% and inventory now up 44% over ’07. On the condo side – attached (t/hses) sold are down by 12% from 2007; average price down 14% based on 7 vs 8 sales YTD. Active listings now over double last year at 44 vs 18. Apartments reflect 25 sold vs 23 by Feb ’07; with average price up (30%) from ‘07 and active listings at 83 even with ‘07. North Shore demand is still healthy with inventory overall appearing to be climbing. I will continue to keep you informed as the year over year figures become more meaningful – at least 1/6th of a year is better than 1/12th - roll on the first quarter! Everything progresses and we are now whipping through a snow covered landscape heading to Quebec City. Ottawa by Friday! Again, visit my website to see and “hear” the new developments. I continue my commitment to keep you…. www.OnTopOfTheMarket.ca . This work in progress strives to be the “go to” site for North Shore Real Estate analysis and jumping off point for FULL market listing information. To join the group getting the e-mail version of this “update” - send a request now to
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