Wave of Reductions
Posted December 20th, 2009 in Neighbourhood SnapShot, North Vancouver | 
North Vancouver Detached 30 Days
North Vancouver Detached real estate market during the past 30 day period of November 20,2009 to December 20,2009, may be setting the tone for a number of Vancouver area statistics. December is historically a month of lower sales. As in the past the accepted reason has been the tradition of the holiday season. All eyes are focused on meeting and sharing cheer with friends and family which for many, over rides interest real estate. It’s also a time of year in which we reflect on our good fortune, the things we have accomplished and moments where as in the case of this picture – while heading to anchorage at Bedwell Bay, I photographed one of the magnificent homes that line the shore of Deep Cove.
Through the view finder, a peek at the North Shore detached average and median prices is of course, seems in keeping with the tradition. Sales have slowed while prices have held relatively steady from Oct/Nov to the same period in Nov/Dec.
Numbers
FOR SALE
| FOR SALE |
This Month |
Last Month |
| Total Listings |
237 |
271 |
| Total Active Listings |
167 |
167 |
| Average Active Listing Price |
$1,191,120 |
$1,191,120 |
| Median Active Listing Price |
$1,098,000 |
$1,098,000 |
EXPIRED
| Expired Listings |
20 |
12 |
| Average Expired Price |
$1,185,400 |
$1,212,908 |
| Median Expired Price |
$933,700 |
$1,300,000 |
SOLD
| SOLD |
50 |
92 |
| Sold Average ASKING Price |
$959,442 |
$967,983 |
| Sold Average Sale Price |
$942,026 |
$952,118 |
| Median Sold ASK Price |
$889,450 |
$874,450 |
| Median Sold Sale Price |
$867,000 |
$860,500 |
Lapping Waves
The numbers for North Vancouver much like the waves lapping the shoreline are greater and lesser. While averages have seen a shift downward it is a small percentile. Equally, the median prices for each section have increased to offset the average.
Notable is the high number of price reductions. Standing at 67, this number of reductions represents more than one third of the total Active Listings.
Telephoto
Mounting the telephoto lense in the hope of getting a clear picture of what lies ahead, one asks if the image these price reductions present is one of an adjusting market place. Is one then to suspect that this may be an indicator that the market is searching to find a new price point that is affordable?
1st Wave
In the days leading up to Holiday break YatterMatters will present the numbers for each major area of Vancouver to see if North Vancouver is the leading wave.
*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.
