2006 Starts Off Strong!

MLS Stats For January 2006

West Vancouver

Detached unit sales up 56.5% to 36 units. New Listing Inventory up 13% to 88 units
Attached units sales up 400% to 5 units. New Listing Inventory up 129% to 16 units
Apartment unit sales down 32% to 5 units. New Listing Inventory down 37% to 15 units
Median selling price for detached homes up 32% to $1,160,000
Median selling prices for detached and attached homes not reported when there are less than 20 sales.

 
North Vancouver

Detached unit sales up 25% to 60 units. New Listing Inventory is flat to 94 units
Attached unit sales up 29% to 27 units. New Listing Inventory is 7% down to 35 units.
Apartment unit sales are down 24% to 54 units. New Listing Inventory is 10% down to 88 units.
Median selling price for detached homes is up 17% to $713,527
Median selling price for attached homes is up 17% to $447,000
Median selling price for apartments is down 1% to $267,000

Lower Mainland

 
Housing Sales and Listing activity in January showed a continuation of the steady market that Greater Vancouver experienced through most of 2005. The REBGV reports that overall sales increased by 13.2% when compared to January 2005.
 
For the Greater Vancouver area there are fewer listings than there were in 2005.  In West Vancouver a steady stream of new inventory is like a breath of fresh air. Only apartment inventory is down and this is most likely the cause for a decrease in sales in this category of units.  North Vancouver's detached & attached  inventory is flat but their sales are up which will continue to put pressure on prices. Their apartment segment is starved for inventory.
 

Outlook is Positive

Every indication is that 2006 will be another strong real estate market. For those thinking of selling, this is a great time to go to market as the inventory is much needed. For those thinking about buying, the real estate gurus are predicting rising prices through 2006 and 2007.

Buying or Selling?  Please give me a call.  I am pleased to sit down with you to answer your real estate questions and help you with your personal real estate decisions.

Anita Schmitt, Sales Representative - Royal LePage Northshore

This communication is not intended to cause or induce breach of an existing agency agreement.