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August 09 Numbers
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Now to the YTD 2009 [first seven months] vs. corresponding 2008 figures for the North Shore. North Van detached homes sold are now up by 5% from last year (1st time in about 9 months); attached (t/homes) are up by 21% and apartments down by less than 1% from ‘08. Detached average prices down 12% and inventory July 31st, down by 36%. Average prices down 7% (t/hse) and down by 13% (apts).
Inventory (t/hse) a significant 51% lower than ‘08 and (apt) down from ‘08 by 26%. As mentioned above, all N/Van inventory is way lower than last year. Demand is maintaining strength and the general level of sales is increasing month by month.
In West Van, detached number of sales YTD is now marginally up from ‘08, as of July 31st by 1% (also a 1st for some 10 months). Average price down 20% and inventory July 31st down 29% from ‘08. On the condo side – attached (t/hses) sold has dropped to 19 vs. 39 units last year; average price down 10%. Active listings are down from ‘08 by 18%. Apartments sold reflect less than a 1% drop YTD vs. ’08 (95 vs. 96); with average price down 14% and active listings now down 23% from end of July ‘08.
Overall North Shore demand maintains its strengthening trend and with all inventories continuing to drop month over month, sellers have improved chances of success.
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
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