attached (t/homes) down 32% and apartments down by 36% from ‘07. Detached average prices +8% and inventory Dec 31st, up by 227%. Average prices up 5% (t/hse) and up by 3% (apts). Inventory (t/hse) 226% higher than ‘07 and (apt) up from ‘07 by 38%. This relatively high inventory and low demand will continue to keep sales prices down.

n West Van, detached number of sales has dropped by 38% from ‘07.  Average price up 5% and inventory Dec 31st up 73% over ‘07. On the condo side – attached (t/hses) sold are down 20% from 2007 at 49 vs 62 units; average price down 11% YTD. Active listings are down from Dec ‘07 (31 vs. 35).  Apartments reflect 135 sold vs. 205 during ‘07; with average price up 6% from ‘07 and active listings up 101% from Dec ‘07.  Overall North Shore demand since about September has been sluggish with inventory significantly higher than 2007.  Yes, folks, the average prices for ’08 vs. ’07 are still up in all segments except for the “small sample” t/hses in W/Van

After the foregoing, I believe that wishes for a Happy New Year are all the more important,  as is a personal belief that we must not succumb to the “Gloomageddon factor”.  Positive thinking for a positive year!

Again, visit my website to see and “hear” the new developments.  Continue my commitment to keep you... www.OnTopOfTheMarket.ca - the “go to” site for North Shore Real Estate analysis and jumping off point for FULL market listing information.

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