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October 09 Numbers
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The YTD 2009 [first three quarters] vs. corresponding 2008 figures for the North Shore.
North Van detached homes sold are now up by 19% from last year; attached (t/homes) are up by 31% and apartments up by 17% from ‘08. Detached average prices down 9% and inventory Sept 30th, down by 38%. Average prices down 5% (t/hse) and down by 10% (apts). Inventory (t/hse) 46% lower than ‘08 and (apt) down from ‘08 by 24%. Again, we continue to see that all N/Van inventory is way lower than the preceding year. Demand is maintaining strength and the general level of sales still continues increasing month by month
In West Van, detached number of sales YTD is now up from ‘08, as of Sept 30th by 21% (the third consecutive month in about a year). Average price down 15% and inventory Sept 30th down 27% from ‘08. On the condo side attached (t/hses) sold stand at 35 vs. 46 units last year; average price down 12%. Active listings are up from ‘08 by 6%. Apartments sold now reflect a 7% increase YTD vs. ’08 (121 vs. 113); with average price down 16% and active listings now down 32% from end of Sept ‘08.
It would seem that our North Shore is still seeing a continued drop in inventory (only W/Van t/homes increased marginally) and this trend does not follow the general one evident in Greater Vancouver where inventories are showing a varied pattern of increases. Our prices still appear to have upward potential?
Again, visit my website to see and hear the new developments. I 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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