Current: North Vancouver is in a Stable Market with its average listings inventory and 12 %SOLD rate.
Meaning 12 homes out of 100 sold in the last month with an avg of $39,000 Discount on sale from the original list price.
Most Active Range: Homes below $1.3 mill. have 28.0 %SOLD rate.
Least Active Range: Homes above $3 mill. have 4.5 %SOLD rate.
History: The North Vancouver Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $38,777.
The North Vancouver Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $17,656.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Vancouver has an average listing supply; 241 homes are for sale and with the 12 %SOLD monthly rate gives us a ~8 months of inventory. 5% of the Active Listings have reduced their price by $76,692 on average or $83,000 on median in the last month. We project North Vancouver to be a continued Stable market.
April's Real Estate Statistics shows that 76% of Single-Family Homes in Metro Vancouver have been in a Seller's Market. The Average Monthly Price increase was $2,100 which is a small decline from last month's $4,090 gain. On the other hand, Fraser Valley’s Detached Markets increased values this month. Single Family Homes had a $2,239 monthly price increase. Yes, both sales and inventory have dropped in the last month and the sell-through rates are falling enough to become a Buyer's Market. With that being said, we are not going to forecast the Markets this coming month, due to the Stock Market volatility and the Pandemic on hand.
Currently, Condos are in a Seller Market with 77% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $1,476. At the same time, the Townhouse Market increased $1,366 on average. That is 79% increased (22 out of 28 Markets). We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighborhood.