North Shore Real Estate Market Statistics – May 2017

Here are the latest real estate market statistics from Macdonald Realty on North Shore listings and sales in May 2017.

North Vancouver

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.

MarketHotSheet_May2017_NorthVan

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North Shore Real Estate Market Statistics – April 2017

Here are the latest real estate market statistics from Macdonald Realty on North Shore listings and sales in April 2017.

North Vancouver

In April, the North Vancouver market had 110 sales and 276 active listings for detached homes. The benchmark sale price was $1,599,300 with an average days on market of 30. Canyon Heights NV with 16 sales had the most sales activity.

There were 106 sales and 121 active listings for condos. The benchmark sale price was $489,700 with 14 average days on market. The neighbourhood of Lower Lonsdale with 34 sales was the hottest sales market.

Townhome sales were 32, active listings were 39, the benchmark sale price was $887,800, and the average days on market were 13. Central Lonsdale with 11 sales had the most sales activity.

It’s a seller’s market for all product types.

MarketHotSheet_April2017_NorthVan

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North Shore Real Estate Market Statistics – March 2017

Here are the latest real estate market statistics from Macdonald Realty on North Shore listings and sales in March 2017.

North Vancouver

In March, the North Vancouver market had 98 sales and 266 active listings for detached homes. The benchmark sale price was $1,575,500 with an average days on market of 21. Lynn Valley with 13 sales had the most sales activity.

There were 127 sales and 122 active listings for condos. The benchmark sale price was $474,000 with 18 average days on market. The neighbourhood of Lower Lonsdale with 37 sales was the hottest sales market.

Townhome sales were 28, active listings were 33, the benchmark sale price was $866,100, and the average days on market were 13. Central Lonsdale with 8 sales had the most sales activity.

It’s a seller’s market for all product types.

MarketHotSheet_March2017_NorthVan

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North Shore Real Estate Market Statistics – February 2017

Here are the latest real estate market statistics from Macdonald Realty on North Shore listings and sales in February 2017.

North Vancouver

In February, the North Vancouver market had 88 sales and 258 active listings for detached homes. The benchmark sale price was $1,556,600 with an average days on market of 27. Upper Lonsdale with 13 sales had the most sales activity.

There were 96 sales and 130 active listings for condos. The benchmark sale price was $463,200 with 14 average days on market. The neighbourhood of Lower Lonsdale with 40 sales was the hottest sales market.

Townhome sales were 28, active listings were 30, the benchmark sale price was $854,000, and the average days on market were 19. Central Lonsdale and Hamilton, 4 sales each, had the most sales activity.

It’s a seller’s market for all product types.

MarketHotSheet_February2017_NorthVan

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Macdonald Realty listings get extra exposure on international website LeadingRE.com

PrintMacdonald Realty offers consumers an easy way to search home listings and identify top real estate firms in markets worldwide through its participation in the new LeadingRE.com.

The site also brings global exposure for our BC real estate listings and provides consumer resources, such as cost of living comparisons, school information, recent home sales and other local resources and statistics. LeadingRE.com can be accessed via macrealty.com by clicking the Global Home Search logo on the homepage.

“LeadingRE.com now provides home buyers and sellers an easy way to identify the top-performing real estate companies in a given market by searching over 400,000 member listings or by using our comprehensive member directory,” notes Leading Real Estate Companies of the World Director of Strategic Development Rhett Damon. “Our network linking strategy connects many of our high-traffic member sites to LeadingRE.com’s national or global search, providing valuable listing exposure to home sellers.”

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For more information about Macdonald Realty and our LeadingRE partnership please email macrealty@macrealty.com or call 1-877-278-3888.  Looking to buy or sell, locally or globally?  Allow us to make a quality introduction to be matched with an independent brokerage and REALTOR® working in your area.

Quality | Connections | Independence

PrintMacdonald Realty is a member of Leading Real Estate Companies of the World™, a global community of real estate companies awarded membership based on rigorous standards for service and performance.

This LeadingRE distinction ensures that you can count on a quality real estate experience when working with us and will benefit from our global connections to buyers and high quality real estate professionals around the world.

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North Shore Real Estate Market Statistics – December 2016

Here are the latest real estate market statistics from Macdonald Realty on North Shore listings and sales in November 2016.

North Vancouver

In December, the North Vancouver market had 48 sales and 179 active listings for detached homes. The benchmark sale price was $1,578,000 with an average days on market of 41. Lynn Valley with 9 sales had the most sales activity.

There were 73 sales and 89 active listings for condos. The benchmark sale price was $452,600 with 25 average days on market. The neighbourhood of Lower Lonsdale with 34 sales was the hottest sales market.

Townhome sales were 15, active listings were 26, the benchmark sale price was $831,400, and the average days on market were 25. Lower Lonsdale and Hamilton, 3 sales each, had the most sales activity.

It’s a seller’s market for all product types in North Vancouver.

North Vancouver real estate market stats

West Vancouver

The West Vancouver market had 31 sales and 278 active listings for detached homes. The benchmark sale price was $2,948,200 with 48 average days on market. Ambleside with 7 sales was the neighbourhood with the most sales activity.

Condo sales were 11 and active listings were 48 at the end of the month. The benchmark sales price was $912,700 with an average days on market of 38. Ambleside had the most sales in November at 7.

In comparison, townhome market had 2 sales and 8 active listings; the average days on market were 48.

It’s a buyer’s market for single family homes.

West Vancouver real estate market stats

 

Looking for more information about the real estate market in specific neighbourhoods in North Shore

Macdonald Realty has offices in North Vancouver and West Vancouver.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

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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.rebgv.org

Would you buy a home now??

Greater Vancouver housing prices may prove resilient in spite of the provincial government intervention intended to cool the market and moderate price increases. Interfering in free market dynamics seldom has the desired effect, long-term. While the government’s significant foreign buyer tax will continue to deter some foreign investment in higher priced properties, and the fed’s recent changes to mortgage rules will certainly remove a number of buyers from the pool of mostly entry-level properties, we believe it is reasonable to believe most of the market will remain attractive and active.

We expect increased market activity in early Spring 2017. I say this without the advantage of a crystal ball, of course. However, we usually witness a rebound effect when buying activity slows because of seasonal effect or outside influence. The number of folks who ‘want’ to buy is not diminishing, therefore, at some point the pool of Buyers will swell through a period of seasonal or artificially interrupted demand.

Here is a brief synopsis of recent activity affecting the market for detached, single-family homes in four parts of Greater Vancouver during the months of October and November 2016.

October 2016
Detached Homes     Listings (1 mo. chg)    /    Sales (1 mo. chg)
Vancouver East:              233 (-21.3%)    /    65 (+4.8%)
Vancouver West:             163 (-34.8%)    /    78 (+30%)
Burnaby:                           160 (-12.6%)    /    44 (-24.1%)
North Vancouver:           156 (-27.4%)    /    61 (+15.1%)

November 2016
Detached Homes     Listings (1 mo. chg)   /    Sales (1 mo. chg)
Vancouver East:              212 (-9.0%)      /    77 (+18.5%)
Vancouver West:             122 (-25.2%)    /    68 (-12.8%)
Burnaby:                           96 (-40.0%)      /     48 (+9.1%)
North Vancouver:           84 (-46.2%)      /    61 (unchg)

Notice how buying activity (sales) is mostly stronger since September while listings inventory drops.

Here is some context, though. If we compare the number of sales for detached homes during the three-month period from September through November 2016 to the same period in 2015 we see significant drops in buyer activity in the areas described above. (between 48% and 54% lower over the same three months).

How have prices been affected? While the benchmark price index for detached homes in the subject areas showed a small seasonal drop over the past three months (-2.7% in Vancouver West to -4.8% in Burnaby North). The November 2016 Benchmark Price still increased over twelve months in the 22% to 27% range.

So, will the government intervention have a lasting effect on home prices in Greater Vancouver? Will supply of homes for sale grow in 2017? As long as Canada continues to attract population growth people will prioritize their efforts to own a home for the benefit of their families. Canada is a very big geography and continues to build its population by welcoming immigration from around the world, just as it has from its beginning. Greater Vancouver is a desirable area for nearly all demographics. I believe buying activity here will remain strong based on the principles of a free market and supply / demand dynamics.

When you are thinking of selling your home, let us help you find the best possible Buyer.


Blog post provided by Ron Friense, a REALTOR® with Macdonald Realty in North Vancouver.

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Visit Ron’s website at ronfriesen.ca for more information.

North Shore Real Estate Market Statistics – November 2016

Here are the latest real estate market statistics from Macdonald Realty on North Shore listings and sales in November 2016.

North Vancouver

In November, the North Vancouver market had 63 sales and 294 active listings for detached homes. The benchmark sale price was $1,625,800 with an average days on market of 36. Upper Lonsdale with 11 sales had the most sales activity.

There were 88 sales and 169 active listings for condos. The benchmark sale price was $452,100 with 24 average days on market. The neighbourhood of Lower Lonsdale with 34 sales was the hottest sales market.

Townhome sales were 24, active listings were 42, the benchmark sale price was $840,600, and the average days on market were 24. Lower Lonsdale and Lynn Valley, 4 sales each, had the most sales activity.

It’s a seller’s market for condos and townhomes in North Vancouver.

MarketHotSheet_November2016_NorthVan

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Macdonald Realty participates in REALTORS Care® Blanket Drive

Macdonald Realty is excited to participate in the 22nd REALTORS Care® Blanket Drive campaign. Agents and staffs from our North Vancouver and West Vancouver offices collected new and used coats, blankets and warm clothing at Capilano Mall and Park Royal Mall. The offices then sorted and delivered the donations to charities and organizations in the area.

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Since 1995, REALTORS Care® Blanket Drive has helped more than 290,000 people keeping warm and dry. The campaign for this year is over, but you can still donate the following items to the recipient charities:

  • gently used or new blankets or sleeping bags
  • warm clothing, coats
  • hats, gloves, scarves
  • new socks and underwear

Click here for a list of suggested charities.

Click here for more information about REALTORS Care® Blanket Drive.