Each week we post the latest stats for one of our specialty areas. This week, we're focusing on the West Vancouver attached property market.
- Current inventory is 31% below last year, with 79 properties for sale compared to 114 during the same week in 2021. Current listings are 7% higher than last week.
- Sales remained steady this week with 5 transactions out of 79 listings, compared to 5 transactions out of 74 listings last week. Last year we saw 6 sales out of 114 properties during the same period.
- Of this week’s 5 sales, buyers averaged 100% of the asking price, with a median sale price of $1,495,000 and a median of 7 days-on-market. Of the properties sold, two sold for the asking price, one sold over the asking price and two sold under asking.
- Our highest priced sale this week: a 3 bedroom, 3 bathroom, 1,472 sq.ft. condo on Bellevue Avenue. List price $2,150,000. Sold for $2,080,000.
- Our lowest priced sale this week: a 1 bedroom, 1 bathroom, 692 sq.ft. condo on Esquimalt Avenue. List price $445,000. Sold for $445,000.
- Market absorption rate for West Vancouver attached listings: At the current sales rate, if there were no new listings added, it would take 3.2 months for inventory to be absorbed into the market.