Each week we post the latest stats for one of our specialty areas. This week, we're focusing on the West Vancouver detached housing market.
- Current inventory is 9% below last year, with 366 properties for sale compared to 401 during the same week in 2021. Current listings are 6% higher than last week.
- Sales remained steady this week with 7 transactions out of 366 listings, compared to 7 transactions out of 344 listings last week. Last year we saw 19 sales out of 401 properties during the same period.
- Of this week’s 7 sales, buyers averaged 96% of the asking price, with a median sale price of $2,650,000 and a median of 14 days-on-market. Of the properties sold, one sold over the asking price and six sold under asking.
- Our highest priced sale this week: a 7 bedroom, 11 bathroom, 8,011 sq.ft. house on Mathers Avenue. List price $14,288,000. Sold for $11,800,000.
- Our lowest priced sale this week: a 3 bedroom, 2 bathroom, 1,700 sq.ft. house on Glenross Road. List price $2,388,000. Sold for $2,200,000.
- Market absorption rate for West Vancouver detached listings: At the current sales rate, if there were no new listings added, it would take 7.8 months for inventory to be absorbed into the market.