Now the seven month 2008 figures vs. 2007 - North Van detached homes sold down 20% from last year, attached (t/homes) down 19% and apartments down by 21% from ‘07. Detached average prices +15% and inventory now up by 105%
Average prices up 8% (t/hse) and up by 12% (apts). Inventory (t/hse) 110% higher than ‘07 and (apt) up from ‘07 by 107% - both of these continue to be affected by slower absorption of new construction. While there is still demand, continuing high inventory will maintain a tempering of sales prices – continuing of the plateauing. In West Van, detached number of sales has dropped by 25% from ‘07. Average price up 7% and inventory now up 85% over ‘07. On the condo side – attached (t/hses) sold are marginally up over 2007 5%; average price down 10% YTD. Active listings are now 57% over last year (55 vs 35). Apartments reflect 96 sold vs. 128 by July ‘07; with average price up 12% from ‘07 and active listings up 47% from ‘07. Overall North Shore demand still evident with inventory remaining higher. 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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