We’re gonna learn the prices and trends for North Vancouver real estate for November 2018. I’m Davis Kosowan realtor this is the same information I use when I’m putting together real estate deals for my clients and today we’re gonna find out where the real estate opportunities exist in the North Vancouver real estate market in November 2018.
The market has corrected in North Vancouver.
Detached supply-and-demand we have 433 for sale40 houses sold in November.
The graph shows that there’s still a wide gap between listings and solds our months of inventory is 11 months which puts us in a buyers market we have 40 sold now the previous month there were 69 and 2 properties over the $3.0M dollar mark sold in November homes sold over the $3.0M price range – and previous month was 5.
The average sold price is $1,743,537 homes are selling for approximately 93% of their list price last month was 95%. Average days on market is 46 compared to the previous month of 39 so we’re seeing bigger discounts and longer days on market.
And in big-ticket items and builders corner 76 new houses on the market one sold in the month of November. Also months in 2018 where there was one sold was July and September. There are 68 homes over the $3.0M mark currently listed for sale in North Vancouver and the hot three neighbourhoods starting with number 3 is:
- Lynn Valley
- Canyon Heights
- and number one Boulevard
This is 2 months in a row where Canyon Heights has been in the top 3.
And for the North Vancouver attached market, that’s condos and townhomes:
Supply and demand we’ve got 411 properties for sale that’s down from the previous month and 98 properties sold. Our months of inventory for attached ins for 4 months which puts us back into a balanced market for condos.
And the attached snapshot we have for North Vancouver we’ve got 98 properties sold 16 of those properties are priced at $1,000,000 or higher now that’s lower than November 2017 one year ago but it’s consistent with the September trend we’ve have here in 2018 September, October, November all around the same number 16.
The average sold price for condos is about $1.0 million less than houses at $ 796,150 condos are selling for approximately 96 % of their list price with an average days on market of 34 days.
Big-ticket items in the attached market we’ve got 121 properties listed over the $1.0 million mark and 16 sold. Our hot 3 neighbourhoods for the attached market starting with number 3 is:
- Lynn Valley
- Lower Lonsdale
- number 1 going to Central Lonsdale.
This is the first time in a long time or Lower Lonsdale has not had the number one position.
So where are the opportunities in this market?
Buyers clearly have an advantage in the detached market and all knows those who are moving up the property ladder in this market will do particularly well. Selection is good and the gap between different property segments is narrower than it’s been in a very long time. Selection is good and prices are good.
I’ve created my buyers and sellers guides to help educate my clients and help them avoid costly mistakes in the buying and selling of real estate it’s helped to them and it can help you too so click the links below in the description they’ll take you to a page where you can download my free buyer’s guide and seller’s guide .