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June 09 Numbers
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Now let’s look at the YTD 5 mth 2009 vs. 2008 figures for our North Shore. North Van detached homes sold down by 17% from last year, attached (t/homes) down 7% and apartments down by 23% from ‘08.
Detached average prices -18% and inventory May 31st, down by 19%. Average prices down 12% (t/hse) and down by 16% (apts). Inventory (t/hse) 2% lower than ’08 and (apt) down from ‘08 by 5%. As mentioned above, all N/Van inventory is lower than last year. Demand and the general level of sales continue to increase month by month.
In West Van, detached number of sales YTD has dropped, as of May 31st by 30% from ‘08. Average price down 21% and inventory May 31st down 3% from ‘08. On the condo side – attached (t/hses) sold has dropped to 11 vs. 31 units last year; average price down 29%. Active listings are down from ‘08 (41 vs. 43). Apartments sold reflect a 27% drop YTD vs ‘08; with average price down 21% and active listings up 38% from end of May ‘08.
Overall North Shore demand maintains its improving trend (confidence certainly returning) and with almost all inventories dropping from this time last year the seller has a better (and quicker) chance of selling . Again I mention that the “bargain basement” purchases evident in the past few months are drying up. A few of the luxury end homes are now making it to the sold stats and this is again persuasive evidence of a return of confidence.
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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and you’ll be assured receipt; phone me at (604) 988-7368 or visit www.OnTopOfTheMarket.ca
Alan
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