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 2% below last year, with 310 properties for sale compared to 315 during the same week in 2020. Current listings are 7% higher than last week.
- Sales improved this week with 15 transactions out of 310 listings, compared to 9 transactions out of 291 listings last week. Last year we saw 19 sales out of 315 properties during the same period.
- Of this week’s 15 sales, buyers averaged 96% of the asking price, with a median sale price of $2,775,000 and a median of 12 days-on-market. Of the properties sold, one sold for the asking price, three sold over the asking price and 11 sold under asking.
- Our highest priced sale this week: a 5 bedroom, 7 bathroom, 8,023 sq.ft. house on Eyremount Drive. List price $6,388,000. Sold for $5,650,000.
- Our lowest priced sale this week: a 3 bedroom, 2 bathroom, 2,720 sq.ft. house on Mathers Avenue. List price $1,998,000. Sold for $2,085,000.
- Market absorption rate for West Vancouver detached listings: At the current sales rate, if there were no new listings added, it would take 5.5 months for inventory to be absorbed into the market.