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January 2010 Numbers
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Now to the full year 2009 vs. 2008 results on our North Shore. North Van detached homes sold are up by 34% from the previous year, attached (t/hses) up by 44% and apartments up by 40% from '08.
Detached average prices down 5% and inventory Dec 31st, down by 48%. Average prices down 3% (t/hse) and down 5% (apts). Inventory (t/hse) 46% lower than '08 and (apt) down from '08 by 29%. All N/Van inventory is way lower than 2008. Demand is still strong and, unless a significant number of new properties are listed, this will continue to keep sale prices up.
In West Van, detached number of sales is up by 52% from '08. Average price down by 12% and inventory Dec 31st down 31% from '08. On the condo side attached (t/hses) sold are up 4% from 2008 at 51 vs 49 units; average price down 4%. Active listings are up from Dec '08 (38 vs. 31). Apartments reflect 165 sold vs. 135 during '08 a 22% increase; with average price 13% lower than '08 and active listings down 27% from Dec '08. Overall North Shore demand since about 3rd Q 2009 has been strong with inventory generally much lower than 2008.
As we embark on this Olympic year and keeping the predicted economic improvement firmly in mind we shall track the important part that the property market has played (and will play) in 2010. The best to you and yours as we move ahead. More positive thinking for a more positive year?
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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