Now, (how strange) we look at the continuing effect of the demand created by this desirability, specifically as it applies to our portion of this paradise, the North Shore – North Van first; clearly continues to show that 2007 is on an upward price trend.
The YTD (year-to-date) figure comparison shows mixed levels of sales from last year (but generally a little higher). Detached average prices +12% and inventory is now down by 12%. Average prices up 11% (t/hse) and up by 15% (apartments). Inventory (t/hse) 1% lower than ’06 and (apt) up from ’06 by 5%. North Van is the one place where inventory seems lower than last year. That gentle rise in prices will likely be maintained.
In West Vancouver, detached number of sales up 4%. Average price up 12% and inventory 2% higher than ’06. On the condo side – attached (t/hses) sold are down 21% from 2006; average price change up 19% based on 44 sales YTD. Active listings now up 5% over last year. Apartments reflect 3% fewer sales from ’06; with average price 1% lower (possibly an aberration owing to some inordinately large sales early last year) and active listings now 10% higher.
North Shore demand still healthy with inventory mixed and again not enough for a balanced market as the rhetoric of early 2007 would have had us believe. Important note: Interest rates are not evidencing the promised rises!
Again, visit my website to see and “hear” the new developments. I continue my commitment to keep you…. www.OnTopOfTheMarket.ca . This work in progress strives to be the “go to” site for North Shore Real Estate analysis and jumping off point for FULL market listing information. To join the group getting the e-mail version of this “update” - send a request now to
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