The housing market in the Metro Vancouver region has been in a good, balanced shape in recent months. Sales have been weaker , however , according to the Estate Board of Larger Vancouver, as the amount of transactions has been below the ten-year average the whole summer. On the contrary, lists activity has been quite high, with a nearly 25 percent increase year-over-year in Aug 2011. This led to a market with a wider supply and better conditions for consumers. It's important to note the market conditions are dissimilar in each of the Metro Vancouver municipalities, so everyone thinking of buying or selling must exert due diligence. To help buyers and sellers in the gorgeous waterfront neighbourhood of West Vancouver, we've prepared a short research into the West Vancouver real estate market.
Research ofWest Vancouver Real Estate
The waterfront community of West Vancouver is one of the most wanted Metro Vancouver neighbourhoods. The district municipality is located at the corner of English Bay and Howe Sound, just West of North Vancouver. The gorgeous area with beaches, mountains, and many recreational facilities has about 44,000 inhabitants and was one of the areas where the 2010 Winter Olympics happened.
The district's housing market has been extraordinarily vibrant recently, with an especially active spring and high season. There were about 150 new lists of detached homes on the MLS in Aug 2011, and about 80 detached houses were sold in the same period. There are just a few attached homes in the area (only six listed and 2 sold in Aug 2011), so there are no practicable statistical data for this housing type. Condo residences make up for lots of West Vancouver's property market. There were about 600 new lists added to the West Vancouver MLS in August 2011. The total number of active condo listings was about 1900 in July 2011, of which approximately 300 residences were sold during Aug 2011.
The average price of a detached home in the captivating West Vancouver community was $1,760,710, which is about 2.8 times higher than the Greater Vancouver average of $625,578. Detached house prices have been going up considerably in recent years. The price rose by 26.7 % in a year-over-year comparison. Apartment prices have seen a corresponding hike, jumping by 21.2 % in a year-over-year comparison. The average price of a standard flat in this municipality is $739,225.
Research ofWest Vancouver Real Estate
The waterfront community of West Vancouver is one of the most wanted Metro Vancouver neighbourhoods. The district municipality is located at the corner of English Bay and Howe Sound, just West of North Vancouver. The gorgeous area with beaches, mountains, and many recreational facilities has about 44,000 inhabitants and was one of the areas where the 2010 Winter Olympics happened.
The district's housing market has been extraordinarily vibrant recently, with an especially active spring and high season. There were about 150 new lists of detached homes on the MLS in Aug 2011, and about 80 detached houses were sold in the same period. There are just a few attached homes in the area (only six listed and 2 sold in Aug 2011), so there are no practicable statistical data for this housing type. Condo residences make up for lots of West Vancouver's property market. There were about 600 new lists added to the West Vancouver MLS in August 2011. The total number of active condo listings was about 1900 in July 2011, of which approximately 300 residences were sold during Aug 2011.
The average price of a detached home in the captivating West Vancouver community was $1,760,710, which is about 2.8 times higher than the Greater Vancouver average of $625,578. Detached house prices have been going up considerably in recent years. The price rose by 26.7 % in a year-over-year comparison. Apartment prices have seen a corresponding hike, jumping by 21.2 % in a year-over-year comparison. The average price of a standard flat in this municipality is $739,225.
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