Each week we post the latest stats for one of our specialty areas. This week, we're focusing on the North Vancouver detached property market.
- Current inventory is 11% below last year, with 204 properties for sale compared to 229 during the same week in 2021. Listings numbers have not changed since last week when there were also 204 properties for sale.
- Sales weakened this week with 17 transactions out of 204 listings, compared to 26 transactions out of 203 listings last week. Last year we saw 36 sales out of 229 properties during the same period.
- Of this week’s 17 sales, buyers averaged 100% of the asking price, with a median sale price of $2,128,000 and a median of 8 days-on-market. Of the properties sold, one sold for the asking price, eight sold over the asking price and eight sold under asking.
- Our highest priced sale this week: a 3 bedroom, 2 bathroom, 2,710 sq.ft. house on Western Avenue. List price $2,650,000. Sold for $3,500,000.
- Our lowest priced sale this week: a 4 bedroom, 2 bathroom, 1,575 sq.ft. house on Dollarton Highway. List price $1,498,000. Sold for $1,498,000.
- Market absorption rate for North Vancouver detached listings: At the current sales rate, if there were no new listings added, it would take 2.4 months for inventory to be absorbed into the market.