North Van detached homes sold down by 54% from last year, attached (t/homes) down 68% and apartments down by 60% from ‘08 Detached average prices -26% and inventory Feb 28th, up by 66%. Average prices down 20% (t/hse) and down by 24% (apts). Inventory (t/hse) 111% higher than ‘08 and (apt) up from ‘08 by 6%. These high inventory figures coupled with the low demand will continue to keep sales prices down.

In West Van, detached number of sales YTD has dropped, Feb28 by 50% from ‘08. Average price down 18% and inventory Feb28 up 28% over ‘08. On the condo side – attached (t/hses) sold dropped to 1 vs 7 units last year; average price down 28% - the average price of the 7 sold last year was $946,700 vs the single $675,000 sale to date in ‘09. Active listings are down from ‘08 (33 vs. 44).  Apartments reflect 68% drop YTD vs ‘08; with average price up 13% (nothing intelligent to be concluded here as obviously some high priced units changed hands!) and active listings up 65% from ‘08. Overall North Shore demand continues to be slow with inventory higher on average than this time last year. It is clear that the small sample – few sales – precludes any serious conclusions.

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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Alan