Weekly Stats - Jan 22 - NV Condos

Each week we post the latest stats for one of our specialty areas. This week, we're focusing on the North Vancouver condo market.

The details:

  • Current inventory is 47% below last year, with 132 properties for sale compared to 248 during the same week in 2020. Current listings are 21% higher than last week.
  • Sales weakened this week with 17 transactions out of 132 listings, compared to 22 transactions out of 109 listings last week. Last year we saw 30 sales out of 248 properties during the same period.
  • Of this week’s 17 sales, buyers averaged 100% of the asking price, with a median sale price of $745,000 and a median of 7 days-on-market. Of the properties sold, two sold for the asking price, seven sold over the asking price and eight sold under asking.
  • Our highest priced sale this week: a 2 bedroom, 2 bathroom, 1,315 sq.ft. condo on Hunter Street. List price $1,739,900. Sold for $1,739,900.
  • Our lowest priced sale this week: a 2 bedroom, 1 bathroom, 895 sq.ft. condo on West 20th Street. List price $465,000. Sold for $477,000.
  • Market absorption rate for North Vancouver condo listings: At the current sales rate, if there were no new listings added, it would take 0.9 months for inventory to be absorbed into the market.