North Vancouver Community Snapshot

Community SnapShots

Today’s snapshot deals with the North Vancouver real estate market.

This snapshot reflects the periods from September 28 to October 27, 2011 and October 27 to November 27, 2011.

North Vancouver Total Listings

North Vancouver’s total listing count dropped from Sept/Oct’s 383 to Oct/Nov’s 354.

North Vancouver’s Sold Homes

The big change in the periods is the substantial decrease in the number of sales in the two periods. Sept/Oct totalled 92 whereas Oct/Nov dropped by almost half again down to 55 for the period.

Expired, Days on Market

  • The Sept/Oct expired listing mandates recorded 17. This increased to 25 in the Oct/Nov period. An indicator that the market is not prepared to pay what some sellers are asking.
  • During these same periods the number of days it took to sell a home increased from 30 in Sept/Oct to 35 in Oct/Nov. suggesting that buyers are taking longer to decide.

North Vancouver Homes Average and Median Prices

  • In Sept/Oct North Vancouver home’s Average Ask price was $1,009,278. The Average Ask price jumped to Oct/Nov’s $1,166,945.
  • The Median Ask price in Sept/Oct was $924,450. The Median Ask increased to Oct/Nov’s $1,022,000.
  • The Average Sold price in the Sept/Oct was $990,026. In Oct/Nov there was an upward tick to $1,144,914.
  • The Median Sold price in Sept/Oct was $913,500. The Median Sold also recorded a jump to $978,000 in Oct/Nov.

Thoughts

Average and median numbers aren’t everything but, one look at North Vancouver’s detached market suggests that this market is unsettled.

An indicator of that change resides in the volume of sales. Sales dropping by almost half might give you reason to be nervous if you were of the mind that impending doom is on the horizon. It could be viewed that way or, from this Vancouver Realtor’s perspective, it’s more the remembering that we are approaching the end of the year and as such, historical recordings would, like the first snow on Grouse Mountain, indicate that this unsettling is perhaps nothing more than a reflection of the market’s seasonal change.

Photo Credit: Matt Collinge

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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