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November 09 Numbers
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The YTD 2009 [first ten months] vs. corresponding 2008 figures for the North Shore.
North Van detached homes sold are now up by 25% from last year; attached (t/homes) are up by 39% and apartments up by 25% from those sold in ‘08. Detached average prices down 8% and inventory October 31st, down by 45%. Average prices down 4% (t/hse) and down by 8% (apts). Inventory (t/hse) 53% lower than ‘08 and (apt) down from ‘08 by 27%. Still we see that all N/Van inventory is way lower than the preceding year. Demand is maintaining strength and the general level of sales continues its month by month increase.
In West Van, detached number of sales YTD is again up from ‘08, as of Oct 31st by 36% (the fourth consecutive month in about a year). Average price down 14% and inventory Oct 31st down 26% from ‘08. On the condo side – attached (t/hses) sold stand at 45 vs. 45 units last year; average price down 9%. Active listings are down from ‘08 at 40 vs. 44. Apartments sold now reflect a 12% increase YTD vs. ’08 (140 vs. 124); with average price down 15% and active listings now down 36% from end of Oct ‘08.
Overall the North Shore is seeing a continued drop in inventory and this trend is not in lock step with the general one evident in Greater Vancouver where inventories are recently showing a varied pattern of increases. Our prices still appear to have upward potential? Some slowdown in actual sales will likely occur as we head toward the holiday season.
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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and you’ll be assured receipt; phone me at (604) 988-7368 or visit www.OnTopOfTheMarket.ca
Alan
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