North Vancouver Homes Take Christmas Holiday Slide

Community Series – North Vancouver

This snapshot of North Vancouver’s detached home real estate market appears to match the topography of this vibrant north shore community.

During the two periods extending from October 26, 2010 to November 26, 2010 and November 26, 2010 to December 26, 2010 detached properties in the North Vancouver tallied these snapshot results.

Total Listings

Total Listings have reversed from the summer’s highs as they continue to drop from Oct/Nov’s 290 to Nov/Dec’s 260.

Sales

The volume of sold homes are in keeping with the Holiday season having dropped by more than half from Oct/Nov’s 71 to Nov/Dec’s 32.

Expired, Reductions, Increases, Days on Market

  • Oct/Nov recorded 27 expired listing mandates and increased to 36 in Nov/Dec.
  • In this snapshot there were 113 price reductions in Oct/Nov slowing to 96 in Nov/Dec.
  • Notable, is that there were no price increases in either period.
  • 55 days is how long it took to sell a North Vancouver home in Oct/Nov while in Nov/Dec this increased by one day to 56.

North Vancouver Detached Home Average and Median Prices

  • Oct/Nov Average Ask price was $1,001,447. Nov/Dec saw this Average Ask price drop to $862,168.
  • The Median Ask price in Oct/Nov $849,900 dropping to $799,400 Nov/Dec.
  • The Average Sold price in the Oct/Nov was $970,323. Average Sold prices dropped to $834,539 Nov/Dec.
  • The Median Sold price in Oct/Nov was $836,500 which also dropped to $799,500 in Nov/Dec.

Holiday Thoughts

At first blush North Vancouver’s detached homes appear to be on a slippery slope. Not known, is how slick the slope is as it is hidden within the traditional slow market accompanying the Christmas Holidays.

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.

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*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:

anon Says:
December 30th, 2010 at 10:19 am

I have been puzzled by NV’s under performance over the last few months compared with other areas, even taking holiday slowdowns into consideration. On the on hand, the off shore money/tastes theory seems plausible, while on the other hand NV has historically always followed the market up either way yet now seems to lag considerably. Any thoughts?

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