Each week we post the latest stats for one of our specialty areas. This week, we're focusing on the West Vancouver attached housing market.
- Current inventory is 59% below last year, with 52 properties for sale compared to 127 during the same week in 2020. Current listings are 2% lower than last week.
- Sales improved this week with 9 transactions out of 52 listings, compared to 7 transactions out of 53 listings last week. Last year we saw 2 sales out of 127 properties during the same period.
- Of this week’s 9 sales, buyers averaged 96% of the asking price, with a median sale price of $1,150,000 and a median of 10 days-on-market. Of the properties sold, one sold for the asking price, two sold over the asking price and six sold under asking.
- Our highest priced sale this week: a 4 bedroom, 4 bathroom, 2,903 sq.ft. 1/2 duplex on Burfield Place. List price $3,980,000. Sold for $3,820,000.
- Our lowest priced sale this week: a 1 bedroom, 1 bathroom, 557 sq.ft. condo on Bellevue Avenue. List price $569,000. Sold for $560,000.
- Market absorption rate for West Vancouver attached listings: At the current sales rate, if there were no new listings added, it would take 1.9 months for inventory to be absorbed into the market.