North Vancouver Condo/Townhouse

341
+5%

Inventory Count

129
+3%

Sold Listings

$755,000

Sale Prices

North Vancouver House Detached Stats

248
+5%

Inventory Count

68
-4%

Sale Activity

$1,640,000

Sale Prices

North Vancouver Real Estate Market Update for March 2020 – An economic shock, the housing market and COVID 19. 

We are living in an interesting time to say the least. What will happen to the Real Estate market in the next 3-6-12 Months, we do not know, however here are a few possible outcomes worth considering.
Sale prices in the last year, 2019 the detached market seemed to hit the bottom. We have grown quite well since that valley. This will be interesting to watch in the next 3-6 months.
North Vancouver Sales in 1 year Detached Housing.
The COVID-19 outbreak and social distancing definitely slowed down the market activity in the last 2 weeks of March.  Sales are still trickling in and prices seem to be holding relatively constant.We are looking at this North Vancouver data VERY closely to see what happens week after week.  Keep in mind, the data in 2 weeks will be crucial to paint the large picture of the Real Estate market. 

Every housing market is influenced by a host of local factors, yet no market can avoid the iron law of supply and demand.Household savings rates are near 60 year lows, and some households are not well positioned for this economic shock.  This could indeed increase supply in the next 3 months.

North Vancouver Real Estate Market Stats + Trends 

Sep-19Sep-18% Change
New Listings439535-17.9
Total Inventory859976-12.0
Sales166119+39.5
Sales/Listing Ratio19.312.0+58.2
SP/Original LP96.4%96.7%-0.3
Median Sale Price [SF] ($)1,598,0001,690,000-5.4
Days on Market2425-4.0

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