Here are the latest real estate market statistics from Macdonald Realty on the North Shore listings and sales in May 2017.
The West Vancouver market had 63 sales and 482 active listings for detached homes. The benchmark sale price was $3,080,600 with 38 average days on market. Ambleside and British Properties, with 9 sales each, were the neighbourhood with the most sales activities.
Condo sales were 28 and active listings were 46 at the end of the month. The benchmark sales price was $1,033,000 with an average days on market of 17. Ambleside had the most sales in May at 10.
In comparison, townhome market had 4 sales and 19 active listings; the average days on market were 22.
It’s a buyer’s market for single family homes.
In May, the North Vancouver market had 139 sales and 334 active listings for detached homes. The benchmark sale price was $1,656,500 with an average days on market of 22. Lynn Valley with 19 sales had the most sales activity.
There were 135 sales and 118 active listings for condos. The benchmark sale price was $502,200 with 16 average days on market. The neighbourhood of Lower Lonsdale with 50 sales was the hottest sales market.
Townhome sales were 42, active listings were 38, the benchmark sale price was $917,500, and the average days on market were 10. Central Lonsdale with 7 sales had the most sales activity.
It’s a seller’s market for all product types.
Looking for more information about the real estate market in specific neighbourhoods in West Vancouver?
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgvkv.org