Current: North Vancouver is in a Stable Market with its average listings inventory and 15 %SOLD rate.
Meaning 15 homes out of 100 sold in the last month with an avg of $34,000 Discount on sale from the original list price.
Most Active Range: Homes between $1.3 mill. - $1.5 mill. have 31.8 %SOLD rate.
Least Active Range: Homes above $3 mill. have 5.6 %SOLD rate.
History: The North Vancouver Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $47,119.
The North Vancouver Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $9,778.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Vancouver has an average listing supply; 261 homes are for sale and with the 15 %SOLD monthly rate gives us a ~7 months of inventory. 5% of the Active Listings have reduced their price by $92,750 on average or $75,000 on median in the last month. We project North Vancouver to be a continued Stable market.
May's Real Estate Statistics shows that 86% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $2,796 which is a slight increase over last month's increase. On the Other hand, May's Real Estate Statistics shows 61% of Fraser Valley's Detached Markets increased values this month. Fraser Valley's Single Family Homes had a $1,220 monthly price increase. We are all surprised at the Market resilience with our large drops in sales during the pandemic. It turns out that the few buyers we had competed for the very low listing inventories. Now we are seeing a trend of substantial new listings increases and are forecasting a stable Market this coming month.
Currently, Condos are in a Seller Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $894. At the same time, the Townhouse Markets increased $1,243. That is 71% increased (20 out of 28 Markets). We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every Saturday. 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.