There is nothing typical about our real estate market since the start of the Covid 19 pandemic. 2023 first three months sales are down by quite a bit relative to 2021 and 2022 unusually strong market years. North Vancouver sales down 43% and 54% respectively from 2022 and 2021 Q1’s. West Vancouver down 37% and…
In West Vancouver, there were 8.2 months of inventory (MOI). This represents a buyer’s market based on MOI. The sales to new listings percentage was 39%, which represents a balanced market. In North Vancouver, there were 2.6 months of inventory. This represents a seller’s market based on MOI. The sales to new listings percentage was…
RBC Monthly Housing Market Update reports Canada’s housing market inches closer to a cyclical bottom. ‘Home resales are now gradually stabilizing in most parts of the country after plunging through the spring and summer amid soaring interest rates. Nationwide activity even picked up slightly on a month-to-month basis for the second time in three…
In real estate months of inventory, MOI, is defined as the amount of time (or months) it would take for all current MLS® listings to sell given that no new listings enter the market. MOI is calculated by dividing the total number of homes for sale by the total number of homes sold for a…
In November, West Vancouver remained a buyer’s market based on sales to new listings. North Vancouver remained a seller’s market, based on sales to new listings. Prepared by: John Jennings, Royal LePage Sussex-John Jennings
190 North Vancouver residential property sales were recorded by the Multiple Listing Service® (MLS®) in October 2022, a decrease of -25% from October 2021. The MLS® residential property House Price Index (HPI) was $1,330,800, +2% increase from $1,305,200 recorded in same month last year. October residential property new listing levels were up +18% compared to…
In October, West Vancouver remained a buyer’s market based on sales to new listings. North Vancouver has changed from a buyer’s market to a seller’s market, based on sales to new listings. North Shore Market: Detached Homes October 2022 Detached Homes 2022…..2021 West Vancouver – October Sales 27…..60 Sales YTD 395…..603 Avg. Price YTD…
West Vancouver and North Vancouver market activity for detached homes has shifted below our long term averages. Inflationary pressure and rising interest rates are likely key drivers of these trends. This shift in market conditions may cause prices to continually edge down as they have over the past while. At this time, many…
Our real estate boards new Director of Economics and Data Analytics when asked ‘In your opinion, what economic indicators are the most telling about what’s happening in the real estate market?’ Andrews Lis replied: “I think most people would focus on average (or median) prices and sales volumes. We certainly see lots of discussion about…
Much like in May, June was again a buyer’s market in West Vancouver based on sales to new listings. In North Vancouver, June was once again a balanced market, based on sales to new listings. For a full picture of the today’s housing market reach out to [email protected] 604-790-1900
