Rossetti Real Estate Review | July 2009

We are pleased to present our July 2009 Rossetti Real Estate Review, our examination of North Vancouver's residential real estate market. 

Buyer confidence from the spring market has continued into the summer, with residential sales up 53.9 % from July 2008. The median selling price for all categories appears to have stabilized, with detached houses seeing the most appreciation, up 17.8% from the low set last year.

Leading the market was strong demand for properties in the low to mid price range, as first time buyers have been taking advantage of affordable prices and utilizing pre-approved mortgage rate guarantees.

If you are thinking of selling, now is a great time to take advantage of the low inventory levels. If you are thinking of purchasing, there are still some good value opportunities available.

Highlights:

July 2009 vs. July 2008

● Detached Sales . . . . . up 53.3 %  (115 units sold from 75)

● Townhome Sales . . . .up 70.0 %  (51 units sold from 30)

● Apartment Sales . . . . up 47.9 %  ( 105 units sold from 71)

We hope you find this Review helpful and welcome any questions you may have regarding it. We look forward to hearing from you and being of assistance to you and your family or friends.

Sincerely,

Tony Rossetti

Click here to read the entire Rossetti Real Estate Review for July 2009