The selling ratio across North Vancouver properties was a staggering 64.5% in October. Houses moved at 71%, while condos/townhomes moved at 61%, showing extremely strong movements across all property types.
Some price bands were far above the average. North Vancouver detached houses priced from $1.25M to up to $2.75M were quickly snapped up with 77 homes selling with only 76 new inventory added, resulting in a 101% sales ratio! Detached (condos & townhomes) in the $500k~$600k range had an 130% absorption rate, while $600k~$700k North Vancouver properties trailed at 82%.
Top 4 Areas Where Houses Flew in North Vancouver
While the whole detached market was moving fast due to low inventory and high demand, these four regions had the most notable activities:
- Lynn Valley & Area – Lynn Valley, Braemar & Tempe (North Vancouver) – 15/13 sold = 115.3% sales ratio!
- Central North Vancouver – Upper & Central Lonsdale, Boulevard & Queensbury (North Vancouver) – 28/27 sold = 103.7% sales ratio!
- The Peaceful East – Deep Cove & Indian Arm (North Vancouver) – 5/6 sold = 83.3% sales ratio!
- Near Grouse Mountain – Forest Hills, Edgemont & Canyon Heights & Pemberton Heights (North Vancouver) – 24/37 sold = 64.8% sales ratio!
Top 3 Areas Where Condos/Townhomes Flew in North Vancouver
There were some outlier areas with low condo inventory that resulted in astronomical sales ratios. All 3 Lonsdales were popular as expected in hot real estate markets in popular hoods:
- Mosquito Creek (North Vancouver) condos & townhomes – 10/7 sold = 143% sales ratio!
- Harbourside (North Vancouver) condos – 2/1 sold = 200% sales ratio (but low volume)
- Upper, Lower & Central Lonsdale condos & townhomes – 78/109 sold = 71.6% sales ratio (higher volume)
To get a detailed list of sold properties in any North Vancouver region, please contact the Baxter & Welch team now!
Brought to you by your friendly REALTORS® through the MLS® System, courtesy of Baxter Welch for your convenience.
