Now Results 2007 for our North Shore! North Van: the persistent 11% plus price trend was exceeded in all categories. The ’07 final figure comparison shows level to rising number of sales from last year – detached down marginally(1%) and attached (t/homes) up 4% and apartments up 14%.
Detached average prices +13% and inventory now down by 30%. Average prices up 12% (t/hse) and up by 19% (apts). Inventory (t/hse) 33% lower than ‘06 and (apt) up from ’06 by a surprising 50%. This defies the overall inventory pattern which has been lower in all categories but is caused by the many “new construction” units listed in the later months. A continuing opportunity for apartment buyers? In West Vancouver, detached number of sales up marginally 1%. Average price up 10% and inventory up 10% over ’06. On the condo side – attached (t/hses) sold are down 20% from 2006; average price up 32% based on 62 sales YTD. Active listings now more than double last year. Apartments reflect 7% increase in sales from ’06; with average price up slightly (1%) from ‘06 and active listings down 6% from ‘06. North Shore demand is still healthy with inventory generally higher in condos. Next month I’ll try some prediction as to what we might expect for 2008! The crystal ball needs a workout. 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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