MARKET STATS Q2 [April - June] 2020

NORTH VANCOUVER
469 -22.6%

Total Sales vs Q2 2019

1081 -24.1%

New Listings vs Q2 2019

805 -24.9%

Total Listings vs June 2019

WEST VANCOUVER
135 -18.2%

Total Sales vs Q2 2019

443 -31.4%

New Listings vs Q2 2019

581 -24.8%

Total Listings vs June 2019

Q2 [April - June] 2020

July 3, 2020

North Shore real estate sales finished the First Half of the year in line with 2019 levels, led by a strong First Quarter and improving sales through June.

In North Vancouver, First Half (H1) [Jan-June] sales were down 1.0 per cent from 2019, with Second Quarter (Q2) [April - June] sales off 22.6 per cent (versus up 34.0 per cent in Q1 of this year).

New listings were down 24.2 per cent in Q2 and off 15.7 per cent in H1 compared to 2019.

In June, total reported sales were up 17.8 per cent from June 2019, although 6.7 per cent below the 10-year June average.

New listings were up 28.9 per cent from last June, while total listings were down 25.3 percent from the same time, ending the month at 805 homes for sale (11.1 per cent below the 10-year June average).

For all property types, the June sales-to-active listing ratio was 29.6 per cent.

By property type, the June 2020 ratios were: 25.5 per cent for detached houses, 36.8 per cent for townhomes, and 31.3 per cent for apartments.

By price range, the ratios were 52.2 per cent under $750,000, 26.3 per cent $750k to $1M, 29.5 percent $1M - $1. 5M, 27.9 percent $1. 5M - $2M, 19.7 percent $2M - $2.5M, 12.2 per cent $2.5M - $3M, and 7.6 per cent over $3M.

The MLS® Home Price Index (HPI) composite benchmark price of a house in North Vancouver was $1,563,500 (up 2.5 per cent from June 2019). The MLS® HPI price of a condo in North Vancouver was $575,000 (up 4.1 per cent from June 2019). The MLS® HPI price of a townhome in North Vancouver was $989,000 (up 4.5 per cent from June 2019).

In West Vancouver, First Half sales were up 6.2 per cent from 2019, with Q2 sales off 18.2 per cent (versus up 44.9 per cent in Q1 of this year).

New listings were down 31.4 per cent in Q2 and off 23.3 per cent in H1 compared to 2019.

In June, total reported sales were up 37.8 per cent from June 2019, although 33.6 per cent below the 10-year June average.

New listings were up 23.9 per cent from last June, while total listings were down 25.1 percent from the same time, ending the month at 581 homes for sale (17.9 per cent below the 10-year June average).

For all property types, the June sales-to-active listings ratio was 10.7 per cent.

By property type, the June 2020 sales-to-active listings ratios were: 10.3 per cent for detached houses, 6.9 per cent for townhomes, and 14.4 per cent for apartments.

By price range, the ratios were 10.0 per cent under $1M, 25.0 per cent $1M - $2M, 10.9 per cent $2M - $3M, 7.2 per cent $3M - $4M, 1.5 per cent $4M-$5M, and 6.6 per cent over $5M.

The MLS® Home Price Index (HPI) composite benchmark price of a house in West Vancouver was $2,594,200 (up 1.2 per cent from June 2019). The MLS® HPI price of a condo in West Vancouver was $981,900 (down 5.1 per cent from June 2019).

Sales. See what homes sold and when at the links below. Plus, set alerts for daily updates of sales in your neighbourhood or building! 

North Vancouver Sales >>    |    West Vancouver Sales >>

Our Sense of the Market. Sales in June rebounded from the beginning of the pandemic, likely fueled by pent up demand, historically low interest rates, and increasing confidence that BC is
managing the outbreak well. Homes priced in line with recent sales are often generating strong demand, with numerous properties of late selling with multiple offers, and in some cases, over the list price.

Moving forward, provided new & total listings remain low, and Covid-19 remains in check, we expect the overall real estate market to continue to improve. 

As alwasy. When the time is right for you to buy or sell, we're here to help with proven results since 1979. In the meantime, if you have questions or concerns about the market or the value of your home, we would be pleased to hear from you. We can be reached at the form on this page or at 604.983.2518.

- From our family to yours, please be safe.

 


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Past Listing & Sales STATS | June 2020

North Vancouver 

  June -  20        June - 19     % Chg
New Listings 526 408 + 28.9
Total Listings 805 1,072 - 24.9
Sales 238 202 + 17.8
Sales/Listings Ratio   29.6% 18.8% + 57.4
SP/Original LP 98.3% 95.2% + 3.3
Days on Market 9 24 - 62.5
Median Sale Price      
      Condo  $620,000 $618,500 + 0.2
      Townhome   $1,015,000 $975,000 + 4.1
      House   $1,706,750      $1,492,550   + 14.4

 


West Vancouver 

  June - 20        June - 19        % Chg
New Listings 218 176 + 23.9
Total Listings 581 773 - 24.8
Sales 62 45 + 37.8
Sales/Listings Ratio   10.7% 5.8% + 84.5
SP/Original LP 92.4% 84.9% + 8.8
Days on Market 33 56 - 41.4
Median Sale Price      
      Condo  -- ** -- --
      Townhome   -- ** -- --
      House   $2,371,428     $2,703,500    - 12.3

 

**Note: Median sale prices not reported when there are less than 20 sales [West Van condo sales: June 2020: 17 - June 2019: 8] -- [West Van Townhome sales: June 2020: 2 - June 2019: 3]

 

Active Listing Stats

As of July 14, 2020 a 03:40 AM

NORTH VANCOUVER
848

Homes for Sale

55

Average Days on Market

$2,087,450

Median List Price of a House

WEST VANCOUVER
596

Homes for Sale

89

Average Days on Market

$3,988,444

Median List Price of a House

Disclaimer: Historical sales, listings, and price data is from the Real Estate Board of Greater Vancouver as of the date published. Days on Market and Average Sale Prices are calculated as Medians. Note: Active Listing Statistics are based on data generated by the Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.