Each week we post the latest stats for one of our specialty areas. This week, we're focusing on the North Vancouver condo market.
- Current inventory is 46% below last year, with 66 properties for sale compared to 122 during the same week in 2021. Current listings are 20% higher than last week.
- Sales improved this week with 5 transactions out of 66 listings, compared to 1 transactions out of 55 listings last week. Last year we saw 3 sales out of 122 properties during the same period.
- Of this week’s 5 sales, buyers averaged 97% of the asking price, with a median sale price of $1,675,000 and a median of 10 days-on-market. Of the properties sold, one sold over the asking price and four sold under asking.
- Our highest priced sale this week: a 3 bedroom, 4 bathroom, 3,773 sq.ft. townhouse on Highview Place. List price $3,999,000. Sold for $3,868,000.
- Our lowest priced sale this week: a 3 bedroom, 3 bathroom, 1,574 sq.ft. townhouse on Keith Road. List price $1,180,000. Sold for $1,250,000.
- Market absorption rate for West Vancouver attached listings: At the current sales rate, if there were no new listings added, it would take 2.5 months for inventory to be absorbed into the market.