Are the Lions Sleeping in North Vancouver

North Van All 30 Day Det 28-11-2009 2-37-56 PM

North Vancouver Detached 30 Days

North Vancouver Detached real estate market during the past 30 day period of October 29,2009 to November 28,2009, seems in step with with a number of neighbourhoods, on the east and west side of Vancouver (see back posts). Unlike the Lions prominently captured in this picture taken last summer from the PNE grounds, Vancouver’s North Shore real estate mareket is witnessing a modest change.

A peek at the North Shore detached average and median prices reveals a drop from the previous 30 day period, about 6% and almost 4% (rounded) respectively. Notable is that almost one half (92), of the 219 Active Listings posted price reductions.

Numbers

FOR SALE

FOR SALE

This Month

Last Month

Total Listings

308

340

Total Active Listings

308

340

Average Active Listing Price

$1,169,904

$1,169,904

Median Active Listing Price

$1,019,000

$1,019,000

EXPIRED

Expired Listings

10

12

Average Expired Price

$1,147,200

$1,081,225

Median Expired Price

$1,104,000

$1,239,400

SOLD

SOLD

63

102

Sold Average ASKING Price

$941,046

$999,105

Sold Average Sale Price

$922,843

$980,031

Median Sold ASK Price

$941,046

$892,000

Median Sold Sale Price

$855,000

$888,500

HIGH/LOW

Highest Active List Price

$6,500,000

Lowest Active List Price

$118,000

In the Village

North Vancouver’s numbers stir memories of lyrics from the Lion Sleeps Tonight.

Near the village,

the peaceful village

The Lion sleeps tonight.

Hush my darling,

Don’t fear my darling,

The Lion sleeps tonight.

Alert, we stand near the village of Edgemont. In the wind, are heard noises creating concern and a sense of change.

North Vancouver’s real estate during this past 60 days require reflection. Sales are down from 102 to 63 – average and median prices are down, canceled listings are up from 7 to 16.

Were it possible to change numbers to sound, such a result might lead you to ask – are these sounds heard a Lion’s snore as he sleeps or, are they his first breath, a beginning if you will, of his roar?

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed. Numbers provided may vary as they are dynamically posted by the REBGV.

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Not Garth Says:
November 28th, 2009 at 7:29 pm

Larry,

Great data, thank you.

Are you of the view that this market is going the way of Dubai?

November 28th, 2009 at 7:38 pm

Not Garth,

Welcome,
Dubai = North Vancouver – Wow!
Used to watch a TV show called the Outer Limits.
With due respect – responding to any question regarding the similarity between the two might garner high ratings on that show. 🙂

fish10 Says:
November 29th, 2009 at 12:29 am

Thanks Larry. Heading in the right direction.

$6.5 Million in North Vancouver! WTF.

Nicholas Cage bought a castle in Germany and a Private ISland in the Bahamas and still had change from $5 Million!

We are truly living in the twilight zone…

November 29th, 2009 at 1:02 am

Fish
Right Direction? It depends on which side of the coin your on.

As to WTF! Courtesy of Robin Cameron the listing agent, watch this and live large –

http://www.vopenhouse.ca/vid/4994_SeaShells/Gallery/

It might explain the $6.5. BTW it was $5.5mil originally.
Yes poor Nick. Suffer he will because he won’t have the Olympics in his back yard. Come to think, of it he won’t have to pay for it either.
Left he will be to contend with constant sunny warm sea breazes. How much fun can that be every day? 🙂

fish10 Says:
November 29th, 2009 at 12:15 pm

Well I wouldn’t want to own that house if the sea levels start rising. But no worries, it is a tad outside of my pay-scale.

November 29th, 2009 at 1:49 pm

Fish

LOL there yah go thinking negative again!
Re sea level – On the bright side you wouldn’t need a boat to go fishing. Just sit on your deck and watch them jump right on to the BBQ.
As to pay scale me thinks a lot of people in this town face similar hurdles. However, I have no doubt there is a mortgage broker out there who will take the first child as a down payment. 🙂

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