Vancouver Community Series – North Vancouver

North Vancouver

In this the fourth installment of the Vancouver BC community series we take a snapshot of the North Vancouver real estate market.

During the two periods Aug 25/10 to Sept 25/10 and Sept 25/10 to Oct 25/10, detached properties in the North Vancouver tallied these results.

Listings

Total Listings showed a slight decrease from Aug/Sept’s 457 to Sept/Oct’s 451.

Sales

Sales increased by one from Aug/Sept 56 to 57 in Sept/Oct.

Expired, Reductions, Increases, Days on Market

  • Aug/Sept recorded 37 expired listing mandates. This reduced to 30 in Sept/Oct.
  • Price reductions in Aug/Sept were 153 but recorded a slight drop to 144 in Sept/Oct.
  • Notably, there were no price increases in either period.
  • It took 49 days to sell a home in Sept/Oct down from Aug/Sept’s 52.

Average and Median Prices

  • Aug/Sept Average Ask price was $938,810. In Sept/Oct the Average Asking price increased in to $1,084,529.
  • The Median Ask price in Aug/Sept was $859,000 increasing to $8879,000 in Sept/Oct.
  • The Average Sold price in the Aug/Sept was $914,375. Sold prices shot up to $1,055,966 in Sept/Oct.
  • The Median Sold price in Aug/Sept was $845,000. Median prices also climbed in Sept/Oct to $877,500.

Thoughts

While the overall market appears to continue a tempered slowing the latter period has had some surprises. Acknowledging that the sample size is small, it remains interesting that for the first time in the past months sales climbed (if only by one) while at the same time, average prices increased, price reductions decreased, price increases were nil and the time it took to sell a North Vancouver home was reduced.

A betting man would probably say that based on this information this market has leveled – at least for now.

Lonsdale Subway: 1928-1929

With the train/car bridge at Second Narrows complete, it became a challenge to connect the railway that came over the bridge with the PGE tracks based in Lower Lonsdale. Constructing such a line along the waterfront posed major problems in the Lonsdale area. Trains would have to cross the streetcar lines near the ferry wharf and cut through Burrard Dry Dock’s property. To solve the problem, the Lonsdale Subway was constructed. This 23-foot-high tunnel has entrances at the foot of Chesterfield (now hidden from view under new office buildings) and St. Georges. The subway effectively connected the Terminal Railway with the PGE line while avoiding disruption to the Lonsdale area.

Courtesy City of North Vancouver

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.

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