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

>> CLICK HERE TO VIEW THE LATEST NORTH VANCOUVER TOWNHOUSE SALES <<

The details: 

• 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.

"Now that I am coming out of the vortex and swirl of both the purchase and the move, I realize how very fortunate I was to have you representing me in this purchase.  

The offer was done with great expertise and the purchase process was handled with such professionalism.   

The expeditious preparation and signing of electronic documents. The conditions on the offer, and the handling of those conditions protected me and gave me the breathing space to go through the purchase process step by step. With the condo/building inspection you managed to get roof access. Recently I received an email from the board, that I did not need to pay the special levy for condo paint/flooring as the previous owner had paid it. I thought, wow...David had that covered. When I was struggling to get condo insurance, David you made a few calls, and had that lined up for me. 

At the “11th hour” when I needed to make the final decision on the purchase, you calmly gave me the space and support to do that.  

Dan, thank-you for accepting me fully as a client on such short notice out of the blue.   Thank-you as well for your support of David and for accommodating my last visit to the condo so my brother-in-law could review the space and get ready for painting the condo.

My friend, who when I asked her if she had a real estate agent in North Vancouver she would recommend, she told me Pigott Properties. Likewise, I now would also recommend David and Dan to my contacts.  

My daughter, who had initially sent me the link to the listing, came to visit the new condo last weekend. Full circle."

H.V.