Day 5 – West Vancouver
This is the fifth of seven installments where we visit seven communities forming part of the Vancouver Real Estate market. The seven communities that are reviewed include Coquitlam, Burnaby, Vancouver East, Vancouver West, North Vancouver, West Vancouver and Richmond.
Today’s review is the West Vancouver detached real estate market.
During the two periods July 26, 2010 to August 25, 2010 and August 26, 2010 to September 25, 2010, detached properties in the West Vancouver community had these results.
Total Listings decreased from Jul/Aug’s 582 to Aug/Sept’s 581.
Sales were stagnant with Jul/Aug registering 40 to and Aug/Sept 39.
Expired, Reductions, Increases, Days on Market
- Listing mandates that expired were even in both periods at 41.
- Price reductions in Jul/Aug were 169. They had a marginal increase to 171 in Aug/Sept.
- There were 5 price increases in Jul/Aug and 4 in Aug/Sept.
- Like the sales the number of days it took to sell a home didn’t change much. It took 83 days to sell a home in Jul/Aug and 84 in Aug/Sept.
Average and Median Prices
- Jul/Aug’s Average Ask price was $2,187,260. The Average Asking price increased in Aug/Sept to $2,493,764.
- The Median Ask price in Jul/Aug was $1,689,000. This increased to $1,738,000 in Aug/Sept.
- The Average Sold price in the Jul/Aug’s was $2,063,362. In Aug/Sept this increased to $2,256,820.
- The Median Sold price in Jul/Aug’s was $1,605,000. In Aug/Sept the Median Sold increased to $1,650,000.
It is strange to see Total Listings, Sales, Price Reductions and Days on Market at a stand still while prices rise.
What is this telling you?