North Shore Real Estate Stats for February 2014Posted by Kerri Demski on Monday, March 24th, 2014 at 7:01pm.
In North Vancouver prices are up across all property types this February compared to last. Detached by 2.6%, townhouses by 0.6% and condos by 1.3%. West Vancouver notably experienced a 7.2% increase in detached pricing.
Sales in North Vancouver are up considerably as well with the most significant being townhouses by 47%, condos by 36% and detached by 26%. In saying that, we've noticed a large number of sales being posted over the last few weeks for single family homes so I would expect this number to bump up for March.
Supply is generally down... buyers in the detached market don't have as much to choose from which is unfortunate. If this trend continues as more purchasers enter the real estate market this spring, we will see an upward pressure on single family home pricing. Nothing like what's going on in Calgary at the moment, but pressure nonetheless. Detached listings are down by about 22% compared to last February and townhouse listings are also down (by 17%). These are about the same numbers as last month. On the flip side, condo inventory is up again this month... by almost 7% over February 2012. There are some excellent options and deals for entry level buyers.
North Vancouver Pricing Index - Interactive Graph
North Vancouver Sales Index - Interactive Graph
West Vancouver Pricing Index - Interactive Graph
West Vancouver Sales Index - Interactive Graph
Remax Crest Realty
Kerri Demski - Personal Real Estate Corporation
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