thumbAlthough these market statistics are about last month, this information can give you some insight into overall market health.  Listing inventory, days on market, absorption rates and percentage of sale price to list price, etc., can help you predict future trends.  Ask me how!



MARKET STARTS COVID-19 RECOVERY


VANCOUVER, B.C. – July 3, 2020
 

It seems over the last while, home buyers and sellers have become more comfortable operating within the physical distancing and other safety protocols in place due to Covid 19.  Which may explain the increase in activity as sales in the region totalled 2,443 in June 2020, a 17.6 per cent increase from the 2,077 sales recorded in June 2019, and a 64.5 per cent increase from the 1,485 homes sold in May 2020. Now sales were still 21.9% below the 10 Year June sales average, however it looks to be the signs of an awakening market. If you are thinking of buying or selling in the next 6 months, we need to talk!  Call me anytime at 604-657-1480 and let's make a plan. Meanwhile, you can check out all the stats below:

REBGV Market Statistics - June 2020

Historical Interest Rates

Market Watch

Stats Centre Report - North Vancouver

Stats Centre Report - West Vancouver

The MLS® HPI is a more stable price indicator than average prices, because it tracks changes of "middle-of-the-range" or "typical" homes and excludes the extreme high-end and low-end properties.Typical homes are defined by the various quantitative property attributes. These features together become the "benchmark" house, townhouse or apartment in a given area. A benchmark property is designed to represent a typical residential property in a particular MLS® HPI housing market, such as Richmond or North Vancouver. The breakdown of each month’s real estate sales in a given area are estimates of current prices paid for bedrooms, bathrooms, fireplaces, etc. Prices for these qualitative and quantitative features are then applied to the typical house model and an index price is estimated for that month. This type of pricing model involves estimating the price of a property’s features rather than the property itself.

Note: The MLS® HPI offers only a benchmark in which to track price trends and consumers should be careful not to misinterpret index figures as actual prices. Benchmark properties are considered average properties in a given community and do not reflect any one particular property.

 HPI - North Vancouver Detached


















HPI - North Vancouver Townhomes

HPI - North Vancouver Apartments

% of Original Ask Price - North Vancouver Detached

% of Original Ask Price - North Vancouver Attached

% of Original Ask Price - North Van Apartments

Average Days On Market - North Van Detached

Average Days On Market - North Van Attached

Average Days On Market - North Van Apartments

Absorption Rate  - North Van Detached

Absorption Rate - North Vancouver Attached


Absorption Rate - North Vancouver Apartments


Total Inventory Detached - North Vancouver


Total Inventory Attached - North Vancouver
  


Total Inventory Apartments - North Vancouver