North Vancouver’s Hakuna Matata

Community CheckUp Series – North Vancouver

According to Wikipedia, ‘Hakuna Matata’ means “there are no worries.”

While it might be too early to worry about when the first snow will fall on North Vancouver’s famous ski hill – Mount Seymour, the visual of your neighbour standing in their living room, boots buckled tight and skies strapped on while performing all the moves that accompany the Olympic giant slalom might however, cause you to worry.

Seeking relief from the across the street visual, you instead might choose to hear North Vancouver’s real estate market patrons singing ‘hakuna matata.’

This North Vancouver detached home community checkup period extends from July 24, 2011 to September 23, 2011.

Total Listings

Total Listings held fairly steady from Jul/Aug’s 413 units to Aug/Sept’s total of 409.

Sales

The volume of sold homes was also relatively respectable compared to other community checkups with Jul/Aug recording 66 solds and Aug/Sept showing up at 52.

Expired, Days on Market

  • Jul/Aug’s total for expired listing mandates was 19. This saw an increase to 29 in Aug/Sept.
  • The average number of days it took to sell a home in North Vancouver was also reasonable as it only increased by 4 days from Jul/Aug’s 40 to Aug/Sept’s 44.

North Vancouver Detached Home Average and Median Prices

  • Jul/Aug Average Ask price was $1,036,233. Aug/Sept saw this increase to $1,129,451.
  • The Median Ask price in Jul/Aug $917,900. The Median Ask also increased as it recorded a total of $949,450 in Aug/Sept.
  • The Average Sold price in the Jul/Aug was $1,005,689. Average Sold prices increased to $1,094,928 in the Aug/Sept period.
  • The Median Sold price recorded in Jul/Aug was $900,000. Along with the Average Sold price this also increased to $952,000 in Aug/Sept.

Circle of Life

One day your house values are up and another day they are down. A constant in virtually any market you choose to consider, market cycles, much like Disney’s “Circle of Life’ can make you sing ‘hakuna matata’ or scream in pain as you watch a neighbour perform their interpretation of the giant slalom.

*Courtesy Disney

Image Credit

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:

zrh2yvr Says:
September 27th, 2011 at 12:35 pm

When we look around at the craziness we call Vancouver real estate. North Van has definitely been the most stable and based on trends over the past 3-4 months. Although its MOI has gone up – it is really the only one which is still a “Sellers” market although just. In addition, inventory is flat, which is not the case in almost all other locations.

Reggie Says:
September 27th, 2011 at 8:01 pm

Good point zrh

that said, I think a cold wind will blow through that markets soon enough, as it plays catch up with the rest of the lower mainland…..

gotta admit, I enjoy Larry’s snapshots…

ZRH2YVR Says:
September 28th, 2011 at 9:46 pm

I doagree – the Larry posts are great – – the one stat I have a hard time with is the sales stats. Thisis a tough one to really get accurately because if you pull the sales states by date – you won’t get accurate sales states on the recent period – this is because it really can take up to 2 weeks or even longer to post. Recent sales as posted can only be pulled for up to 15 days – – the older periods can not really be pulled on an accurate basis – –

However – I still like the stats.

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