Tagged : west vancouver real estate stats RSS Feed

Tighter mortgage insurance rules, global economic uncertainly and calls for a price correction in the Vancouver real estate market will cause some buyers to delay purchasing. The effect of weaker consumer confidence is expected to dissipate and give way to a more aggressive rebound heading into 2013. Sales are low but the number of new listings is also on a decline which is a key factor in local, stable prices. A positive sales trajectory is expected by the end of 2012 or early next year leading to annual sales gains of 7% in 2013 and 8% in 2014… lacklustre but steady.

The average number of days on market has also increased, giving buyers a bit of breathing room and very limited multiple offer situations to contend with. However, when properties are…

Although the real estate market is slowing down in terms of sales, that's also pretty typical for May and June. Many areas of The North Shore and Vancouver continue to see multiple offers although they are less common compared to last month. On average, the price differential has tightened up too. North Vancouver's detached sales are the strongest with 34 out of 123 homes being sold for list price or higher. The most popular communites are (still) Capilano Highlands, Lynn Valley and Upper Lonsdale. 

The strongest apartment condo market is in Vancouver West. There were 402 sales, up from last month's 361, and 47 of those units sold for list price or higher. University wins out for the hottest community in May, followed by Kits, Downtown, the West End…