Each week we post the latest stats for one of our specialty areas. This week, we're focusing on the North Vancouver detached housing market.
- Current inventory is 3% above last year, with 149 properties for sale compared to 145 during the same week in 2020. Current listings are 6% higher than last week.
- Sales improved this week with 29 transactions out of 149 listings, compared to 20 transactions out of 140 listings last week. Last year we saw 40 sales out of 145 properties during the same period.
- Of this week’s 29 sales, buyers averaged 107% of the asking price, with a median sale price of $2,242,500 and a median of 7 days-on-market. Of the properties sold, two sold for the asking price, 24 sold over the asking price and three sold under asking.
- Our highest priced sale this week: a 6 bedroom, 5 bathroom, 4,707 sq.ft. house on Newdale Court. List price $4,698,000. Sold for $4,500,000.
- Our lowest priced sale this week: a 3 bedroom, 3 bathroom, 1,621 sq.ft. house on East Keith Road. List price $1,775,000. Sold for $1,819,000.
- Market absorption rate for North Vancouver detached listings: At the current sales rate, if there were no new listings added, it would take 1.6 months for inventory to be absorbed into the market.