Current: North Vancouver is in a Sellers Market with its average listings inventory and 38 %SOLD rate. Meaning 38 homes out of 100 sold in the last month with an avg of $10,000 Discount on sale from the original list price.
Most Active Range: Homes between $1.3 mill. - $1.5 mill. have 60.7 %SOLD rate.
Least Active Range: Homes above $2.5 mill. 22.8 %SOLD rate.
History: The North Vancouver Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $117,619.
The North Vancouver Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $37,492.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Vancouver has average listing supply; 193 homes are for sale and with the 38 %SOLD monthly rate gives us ~3 months of inventory. 3% of the Active Listings have reduced their price by $71,519 on average or $80,056 on median in the last month. We project North Vancouver to be a continued sellers market.
May's Real Estate Statistics show ALL 97 Markets are in a Strong Sellers Market and by most accounts, exceeding the 2016 Market Furious Activity Levels. This Consumer Confidence is largely due in part to an increased demand from a Large Local Investor Component and Lower Inventory Levels. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Increase of $40,337, which is a dramatic increase over the $23,408 increase that we saw in April and Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $25,106, which is a decrease from the $32,589 increase that we saw in April.
Currently 100% of the Attached Markets are increasing at a fast pace in Greater Vancouver's 58 Markets. Last year our Emotionally Charged Single Family Markets peaked in June/July and this year we are forecasting a prolonged Sellers Market across all Markets. We continue to analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighbourhood.