Spotlight: 5 New North Shore Apartment Listings
Houston, we have a problem. With apartment inventory at 10-year historical lows (123 in April 2017), and demand continuing to increase, prices continue to be pushed up in the condo market. North Vancouver and West Vancouver experienced YOY median sale price increases of 25.3% and 38% respectively, having jumped 3.3% in North Vancouver and 2.9% in West Vancouver month over month.
The absorption rate (sales-to-active listings ratio) was at 85.5% in North Vancouver and 45.8% in West Vancouver, down slightly from 99% and 67% respectively in March. This is justified by the mid-level and high-end condo market having raised expectations and taking a little longer to sell. The same can not be said for the entry-level and investor market, where listings are experiencing competitive multiple offer situations and selling well over asking price. This end of the market has seen the greatest increase, and upward pressure has continued through the first few days in May. If you're looking to buy, being on top of the market is key - reach out to us today for help in your search via the form below, or contact us at:
604.983.2518 | email@example.com
Check out our pick of 5 new North Shore apartments below.
The First Time Home Buyer
As a first time home buyer, budget is probably the primary factor in your search, but a close second should be piece of mind in the investment you're making. With Lower Lonsdale apartment prices skyrocketing, you don't have to look too far away for more reasonable options. Take this 1-bedroom, 1-bathroom unit in the 2011 built District Crossing centrally located at Marine Drive and Lloyd Avenue. With tired, mid-1980's wood frame and shared laundry apartments in LoLo selling for $450,000 and up, this building provides piece-of-mind with its rainscreen technology and some years left in its 2-5-10 year warranty. This unit offers a private north facing outlook, stainless steel appliances in a building that allows rentals and pets!
402-1679 Lloyd Avenue, Pemberton, North Vancouver
1 Bed / 1 Bath, 700 sq/ft / Listed at $478,800 // Learn more here >>
As above, so below. Across the street from the Lloyd listing above is the new development X61 Living, a mixed-use development that is nearing completion and hugging Marine Drive. This 1-bed, 1-bath unit is being assigned by the purchaser who originally bought from the developer - and there is good value given you'll be full covered by the 2-5-10 warranty. With expected completion late summer 2017, pick up these new digs without the hassle of current pre-sale development debacles.
409-1061 Marine Drive, Pemberton, North Vancouver
1 Bed / 1 Bath, 587 sq/ft / Listed at $460,000 // Learn more here >>
The Modern Family
Planning an addition to the family and need a second bedroom? One bedroom getting too tight and you need some additional space? This 2-bed, 2-bath home in the newly built Mill House development might be the perfect fit. Located in family friendly Lynn Valley and completed earlier this year, the bright and quiet home is a stones throw from Lynn Valley Elementary, a brisk walk to Argyle Secondary, and an easy stroll to shopping and dining at Lynn Valley Centre. A great location for the adventurer wanting close proximity to hiking and biking trails!
316-3205 Mountain Highway, Lynn Valley, North Vancouver
2 Bed / 2 Bath, 862 sq/ft / Listed at $699,900 // Learn more here >>
So you're downsizing but want to keep all of your furniture. We've got the spot for you. This massive 1,416 sq/ft apartment located in Northlands Parkgate Manor has 2-beds and 2-baths, and features an expansive ground floor patio and green space with Southeast exposure. This home is move-in ready, although it's also a great unit for your personal touch in updates. Rancher style living in an apartment, a short walk from Parkgate Village shopping centre and a short drive to beautiful Deep Cove! Bring your sofa, and dining room set too!
103-3670 Banff Court, Northlands, North Vancouver
2 Bed / 2 Bath, 1416 sq/ft / Listed at $749,000 // Learn more here >>
The cat most certainly got the cream on this penthouse gem in North Vancouver's highly desirable Wallace & McDowell. The views are stunning - the open layout is expansive - and the outdoor space is second to none in North Vancouver. This 3-bed, 3-bath home has over 2,200 square feet of livable space inside, with 1,000 square feet outside. It's luxury at its finest - and it's accompanied by a jaw dropping pricetag. This is, by all accounts, a record list price for a North Vancouver resale apartment. Please invite me over for your summer BBQ's.
512-105 West 2nd Street, Lower Lonsdale, North Vancouver
3 Bed / 3 Bath, 2,200 sq/ft / Listed at $3,988,000 // Learn more here >>
Listing Offices: 1. Sutton Group West Coast Realty / 2. VPG Realty / 3. Virani Real Estate / 4. Royal LePage Sussex / 5. Angell Hasman & Associates
Interested in any of the apartments above, or needing help in your home search in North or West Vancouver? Contact us via the form below and we'd love to help!