Plowing Snow

Community Series – North Vancouver

Day four in November’s month end peek at detached real estate in various Vancouver communities.

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

During the two periods September 24/2010 to October 23/2010 and October 24/2010 to November 23/2010, detached properties in the North Vancouver tallied these results.

Listings

Total Listings showed a slight decrease from Sept/Oct’s 418 to Oct/Nov’s 377.

Sales

Sales decreased from Sept/Oct’s 88 to 51 in Oct/Nov.

Expired, Reductions, Increases, Days on Market

  • Sept/Oct recorded 32 expired listing mandates. This dropped to 28 in Oct/Nov.
  • Price reductions in Sept/Oct were 162 and dropped to 147 in Oct/Nov.
  • Notable, is that there were no price increases in either period.
  • It took 52 days to sell a home in Sept/Oct. The number of days dropped to 49 Oct/Nov.

Average and Median Prices

  • Sept/Oct Average Ask price was $1,033,535. In Oct/Nov the Average Asking price dropped to $922,083.
  • The Median Ask price in Sept/Oct was $883,500 dropping to $849,900 in Oct/Nov.
  • The Average Sold price in the Sept/Oct was $1,006,863. Average Sold prices dropped to $895,127 in Oct/Nov.
  • The Median Sold price in Sept/Oct was $872,500. In concert with the average price drop Median sold price dropped to $835,000 in Oct/Nov.

Thoughts

North Vancouver detached homes appear to be on a slow but slippery slope. With the historically low period of the market year approaching this market will probably need to plow more snow before an upward swing is to be seen.

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:

YatterFan Says:
November 27th, 2010 at 1:22 pm

Hi Larry,

Great information (thanks!).

In your views, are prices weakening? (ie. beyond sales mix).

Also, I miss the ‘coffee talk’ commentary, can you share some views of other folks in your field.

Thank you.

YatterFan Says:
November 28th, 2010 at 11:14 am

Hi Larry,

Also, great post on that seller that was trying to do…who knows what…on that overpriced listing…

I assume she was trying to find a realtor who could bring her a buyer at her price, and didn’t care who she screwed (ie. the value of YOUR time…), etc.

Anyways, I do hope she only gets ‘fair market value’ at the end of the day (whatever that might be).

Again, thanks for all the colour you provide on the market.

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