Each week we post the latest stats for one of our specialty areas. This week, we're focusing on the North Vancouver townhouse market.
- Current inventory is 46% below last year, with 42 properties for sale compared to 78 during the same week in 2020. Current listings are 31% lower than last week.
- Sales weakened this week with 6 transactions out of 42 listings, compared to 8 transactions out of 32 listings last week. Last year we saw 10 sales out of 78 properties during the same period.
- Of this week’s 6 sales, buyers averaged 100% of the asking price, with a median sale price of $1,475,750 and a median of 7 days-on-market. Of the properties sold, two sold for the asking price, three sold over the asking price and one sold under asking.
- Our highest priced sale this week: a 3 bedroom, 4 bathroom, 3,177 sq.ft. townhouse on Edgemont Boulevard. List price $2,200,000. Sold for $2,200,000.
- Our lowest priced sale this week: a 2 bedroom, 3 bathroom, 1,114 sq.ft. townhouse on East Esplanade. List price $1,099,000. Sold for $1,110,000.
- Market absorption rate for North Vancouver townhouse listings: At the current sales rate, if there were no new listings added, it would take 0.8 months for inventory to be absorbed into the market.