Current: North Vancouver is in a Stable Market with its average listings inventory and 12 %SOLD rate. Meaning 12 homes out of 100 sold in the last month with an avg of $89,000 Discount on sale from the original list price.
Most Active Range: Homes below $1.3 mill. have 32.7 %SOLD rate.
Least Active Range: Homes between $2.2 mill. - $3 mill. have 5.3 %SOLD rate.
History: The North Vancouver Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $206,953.
The North Vancouver Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $57,707.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Vancouver has an average listing supply; 429 homes are for sale and with the 7 %SOLD monthly rate gives us a ~8 months of inventory. 20% of the Active Listings have reduced their price by $102,114 on average or $100,000 on median in the last month. We project North Vancouver to be a continued stable market.
October's Real Estate Statistics show our Markets have started to Stablize with 48% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $7,184, which is less than the $9,914 decrease that we saw in the month prior. On Average, Out in the Fraser Valley, the Markets decreased $4,586 this month. Consumer confidence has been boosted with our new NAFTA-USMCA trade agreement but offset with the continued tougher mortgage lending rules and interest rate increases. We are still forecasting a Stable Market across most Detached Markets for the following month.
Currently, the Condo Market continues to present a Cool Market with 63% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 61% of the Townhouse Markets are decreasing (11 out of 28 Markets). We are still forecasting a Buyer’s Market in all Condo/Townhouse Markets for the foreseeable future. We 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 Neighborhood.