In North Vancouver prices are up by approximately 4% across all property types this January compared to last. While detached sales remain relatively unchanged, North Vancouver attached sales have increased. Apartment sales are up 32% and townhouse sales are up 12% over January 2012. We've also noticed in these early weeks of February that sales on new listings are happening more quickly... and that even 60 - 120 day old listings are starting to move.
Now let's talk inventory. The total number of detached listings is down by 23.4% compared to last January and townhouse listings are also down (by 17%). This would be why those 'older' listings are starting to sell as more buyers enter the real estate market in these early stages of spring. On the flip side, if you think that there are a lot of condos listed for sale right now... there are. Inventory is up by 4.7% over January 2012 and but more significantly, new listings for this month are up by 39%. There are some good choices and deals for entry level buyers.
