North Vancouver Snapshot – A Celebration of Light

North Vancouver Smoke

Halloween is around the corner. Expect to see some fireworks displays lighting up the sky as North Vancouver home sellers attempt to frighten away the evil spirits of Vancouver’s real estate market.

This North Vancouver detached home community snapshot period extends from August 24, 2011 to September 23, 2011 and September 24, to October 24, 2011.

Total Listings

On the horizon Total Listings sparkled as Aug/Sept’s 442 faded slightly to Sept/Oct’s 417.

Sales

Compared to other communities seen so far, the small drop in sales from Aug/Sept’s 79 to Sept/Oct’s 67 might be considered a pyrotechnical feat.

Expired, Days on Market

  • Aug/Sept’s expired listing mandates glittered at 31. The number dissolved to 18 in Sept/Oct.
  • Selling a home in North Vancouver took less time than a star burst as the number of days dropped from Aug/Sept’s 43 to Sept/Oct’s 28.

North Vancouver Detached Home Average and Median Prices

  • Aug/Sept Average Ask price was $1,107,931. Sept/Oct’s display dampened by rain, didn’t fire as it dropped to Aug/Sept’s $1,012,307.
  • The Median Ask price in Aug/Sept was $949,000. The Median Ask failed to ignite as it too dropped to $919,900 in Sept/Oct.
  • The Average Sold price in the Aug/Sept was $1,077,913. Sept/Oct’s Average Sold price fizzled at $991,968.
  • The Median Sold price in the Aug/Sept period was $936,000. Like the Average, the Median Sold price was a dud which failed to produce a display as it dropped to $895,000 in Sept/Oct.

Symphony of Fire

Vancouver used to call the annual summertime fireworks display the Benson and Hedges Symphony of Fire. There was just too much smoke emanating from that corporate relationship so it was renamed the Celebration of Light.

Assuming North Vancouver’s dropping prices are smoke, this North Vancouver snapshot might extend to suggest that there is a real estate market fire smoldering. As such, if the smolder becomes a blaze it remains to be seen if North Vancouverites will be celebrating its light.

Image Credit: hupaishi

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:

vanpro Says:
October 28th, 2011 at 7:56 am

Yup: looks similar to data for the other communities: sales drop and listings stay high for large jump in MOI and major price declines….

Roger Says:
October 28th, 2011 at 3:25 pm

Compared to the exact same period last year, the North Van market is actually stronger in 2011 than in 2010.

Listings lower, sales higher, median sold price up.

Here is Larry’s Oct 10 data:
http://www.yattermatters.com/2010/10/vancouver-community-series-north-vancouver/

All in all, looks like a pretty normal Oct in N. Van.

BTW – thanks again Larry for this hugely valuable data.

vanpro Says:
October 28th, 2011 at 10:37 pm

Avg. sold price ($991,000) is DOWN compared to same time/data from 2010 ($1,055,000).

Roger Says:
October 29th, 2011 at 2:10 pm

With that few data points, average doesn’t mean anything. One sale can skew the data. Median is a far more reliable stat.

vanpro Says:
October 31st, 2011 at 11:04 am

Median price is only marginally (2%) higher ($895k vs. $877) in nominal terms (and actually down in real, after inflation, terms) since same period last year – meaning it has been on declining (nominal) path since the peak around June of this year. Recent plunge in sales in all of the REBGV areas whilst unsold listings remain high is the ominous sign….

Comment On This Post

will not be published
http://www.yourwebsite.com