More inventory with less sales was the tone for the North Vancouver real estate market in January 2021. This doesn’t mean the market is “slow” by any means – both detached and attached homes enjoyed a sellers’ market with 39% and 63% sales ratios respectively (down from 72% and 119% in December 2021).
Single Family Homes in North Vancouver Sold Quickly in January 2022
With 37 sales and 94 new listings added, North Vancouver houses sold quickly in an average of 8 days on the market. Edgemont, Dollarton, Lynn Valley & Upper Lonsdale houses had the highest activity levels posting 17 sales for a net 113% sales ratio. Blueridge, Princess Park & Pemberton also had very high sales ratios, but with only 1 sale from each of the 3 hoods amidst a total of 4 listings for a net 75% sales ratio.
North Vancouver Houses priced $2M to $2.5M moved at the fastest pace with a net sales ratio of 82%. With 14 sales, this price band accounted for over 37% of total sales of detached properties in January. Higher price bands had declining sales ratios, but North Vancouver Houses priced $4M to $5M had a sudden jump to a 80% sales ratio with 4 sales.
Condos & Townhomes In North Vancouver Sold Even Faster in January 2022
102 attached units traded hands while 163 appeared on the market in North Vancouver last month, selling off quickly at an average of only 7 days on the market. Lynn Valley & Lynnmour condos & townhomes sold at 97% ratio, with 29 sales and 30 new listings added. Central Lonsdale & Lower Lonsdale condos & townhomes trailed right behind with 92% sales ratio, selling 46 units while adding 50.
North Vancouver Condos & Townhomes Priced $800k to $1M was the busiest with a sales ratio of 138% from the 22 sales in its range. North Vancouver townhomes & condos priced $400k to $600k trailed closely with a sales ratio of 136% from 15 units selling. These two price bands represented more than a third of all attached unit sales in North Vancouver in January 2022.
Need a More Detailed Sales Report of North Vancouver Listings?
To obtain a more detailed report of North Vancouver’s real estate sales by specific neighbourhoods or unit types, contact the Filer & Welch team.
Brought to you by your friendly REALTORS® through the MLS® System, courtesy of Baxter Welch for your convenience.
