With 4 mths under our belt, it appears clearer 2007 is continuing the upward price trend. The YTD (year-to-date) figure comparison shows mixed but reasonably comparable levels of sales as last year. Detached average prices +7% (on 5% fewer sales) and inventory of “resale” homes equal to a year ago. On the attached (t/hse and apt) front, sales numbers up 3% over ’06 (t/hse) and up 8% (apt).

Average prices up 11% (t/hse) and up by 14% for apartments. Inventory (t/hse) 6% higher than ’06, and (apt) up from ’06 by 45% (largely new construction). The lagging inventory in the 1st category combined with the evident demand will likely foreshadow a gently continuing rise in those prices.

In West Vancouver, detached number of sales down 17%.  Average price up 11% and inventory now 26% higher than ’06. On the condo side – attached (t/hses) sold are down 31% over 2006; average price change up 10% based on 20 sales YTD.

 Active listings now up 19% over last year. Apartments reflect 8% fewer sales vs. ’06; with average price up 1% (55 units sold) and active listings 14% lower.  The North Shore demand is healthy with inventory still not nearly enough for a balanced market.