Now the ‘first half’ 2008 figures vs. ’07’s ‘first half’ - North Van detached homes sold down 20% from last year, attached (t/homes) down 16% and apartments down by 19% from ‘07
Detached average prices +16% and inventory now up by 112%. Average prices up 10% (t/hse) and up by 15% (apts). Inventory (t/hse) 106% higher than ‘07 and (apt) up from ‘07 by 125% - both of these continue to be affected by slower absorption of new construction. While there is still evident demand, this will lead to a tempering of sales prices – continuing of the plateauing. In West Van, detached number of sales has dropped by 19% from ‘07. Average price up 8% and inventory now up 73% over ‘07. On the condo side – attached (t/hses) sold are even with 2007 at 33; average price down 8% YTD. Active listings are now 29% over last year. Apartments reflect 85 sold vs. 110 by June ‘07; with average price up 14% from ‘07 and active listings up 8% from ‘07. North Shore demand is still evident with inventory continuing to climb – more so in North Van. 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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and you’ll be assured receipt; phone me at (604) 988-7368 or visit www.OnTopOfTheMarket.ca . Feel free to forward to a friend!
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