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North Vancouver Real Estate Stats Overview - June 2024



Full disclosure, except for this brief introduction Chat GPTo wrote this article. I'm all about transparency but also, I don't want to did through a million pages of stats if I can get the tech to do it for me. (smrt hey?)


Anyway, if you enjoy stats (because they can't lie) then you'll love this! Let me know what you think.



General Market Trends

  • Active Listings: The number of homes currently available for sale.

  • Median List Prices: The middle value of all home prices listed.

  • Days on Market: The average number of days a home stays on the market before being sold.

  • Sales-to-Active Listing Ratios: A measure of how quickly homes are selling relative to the number of listings.

Current Market Data

Metric

Value

Active Listings

938

Median List Price

$1.6M

Days on Market

39

Sales-to-Active Listing Ratio

31.6%

Comparison with Previous Months/Years

Comparing current stats with previous months and years helps identify trends and make future market predictions.

Time Period

Median List Price

Days on Market

Sales-to-Active Listing Ratio

May 2024

$1.6M

39

31.6%

April 2024

$1.57M

27

29.4%

May 2023

$1.55M

28

33.2%

Section 2: Neighbourhood-Specific Real Estate Stats

Introduction to North Vancouver Neighbourhoods

North Vancouver is home to several distinct neighbourhoods, each with its own unique charm and market dynamics. Major neighbourhoods include Lonsdale, Lynn Valley, and Edgemont.

Lonsdale Real Estate Stats

  • Active Listings: 200

  • Median List Prices: $1.5M

  • Average Price per Square Foot: $950

  • Days on Market: 35

  • Sales Trends: Increasing demand, stable prices

Lynn Valley Real Estate Stats

  • Active Listings: 150

  • Median List Prices: $1.2M

  • Average Price per Square Foot: $900

  • Days on Market: 30

  • Sales Trends: High demand, slight price increase

Edgemont Real Estate Stats

  • Active Listings: 100

  • Median List Prices: $2M

  • Average Price per Square Foot: $1,100

  • Days on Market: 40

  • Sales Trends: High-end market, steady prices

Other Notable Neighbourhoods

  • Deep Cove: Known for waterfront properties, high demand.

  • Pemberton Heights: Family-friendly, increasing prices.


Section 3: Property Type Analysis

Single Family Homes

  • Market Summary: Consistent demand, moderate price growth.

  • Median List Prices: $1.8M

  • Comparison: Higher than condos and townhomes.

Condos

  • Market Summary: Popular among young professionals.

  • Median List Prices: $950K

  • Comparison: Lower than single-family homes and townhomes.

Townhomes

  • Market Summary: Preferred by families.

  • Median List Prices: $1.3M

  • Comparison: Mid-range prices between single-family homes and condos.


Section 4: Factors Influencing the Real Estate Market

Economic Factors

  • Interest Rates: Impact of current and expected interest rates on buying power.

  • Local Economy: Economic developments in North Vancouver and their influence.

Demographic Trends

  • Population Growth: How increasing population affects housing demand.

  • Demographic Shifts: Changes in age distribution and household types.

Government Policies

  • Policy Changes: Recent government policies affecting real estate.

  • Market Impact: Short-term and long-term effects on the market.


Section 5: Future Market Predictions

Short-term Outlook

  • Predictions for Coming Months: Based on current trends and economic indicators.

  • Key Factors: Interest rates, economic growth, policy changes.

Long-term Forecast

  • Expectations for Next Year: Projected trends and market evolution.

  • Potential Developments: Upcoming projects and their impact.


Section 6: Tips for Buyers and Sellers

For Buyers

  • Best Times to Buy: Optimal periods for purchasing property.

  • Choosing a Neighbourhood: Factors to consider when selecting a neighbourhood.

For Sellers

  • Selling Strategies: Tips for selling quickly and at a good price.

  • Market Timing: Importance of timing the market and presentation tips.


Conclusion

Summary of Key Points

Understanding the detailed real estate statistics for various neighbourhoods in North Vancouver is crucial for making informed decisions. By staying informed about market trends, buyers, sellers, and investors can navigate the market with confidence.


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