North Vancouver Condo Update

There are currently 377 condominium apartment homes for sale in North Vancouver ranging in price from $217,500 for a 855 square foot 2-bedroom home in a Central Lonsdale age-restricted building, to $2,600,000 for a 3 bedroom, 1,700 square foot view home in Lower Lonsdale.

There have been 148 sales in the last 90 days, with the average sale price for a 1-bedroom during that time coming in at $308,588 and the median sale price coming in at $297,750. For 2-bedroom homes, the average sale price was $451,111 and the median sale price was $425,900. The least expensive sale price so far this year for a 1-bedroom was for a 727 square foot home in Lynnmour for $151,000 in January and the most expensive so far this year was for a 781 square foot home (still under construction) in the Hamilton area for $469,000 in January. The least expensive sale price so far this year for a 2-bedroom was for a 871 square foot home in Central Lonsdale for $275,000 in February and the most expensive so far this year was for a 1,851 square foot home in the Capilano area, also in February, for $937,000.

With 151 North Vancouver 1-bedroom condos currently for sale and taking into account 22 sales last month, there is currently a 7 month supply of homes, meaning the Absorption Rate is 5. With 215 North Vancouver 2-bedroom condos for sale and taking into account 48 sales last month, there is currently a 4 & ½ month supply of those homes as well, an Absorption Rate of 4.5. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an Absorption Rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of condos in North Vancouver overall and one would want to drill down deeper in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current North Vancouver Condominium Homes For Sale:
There are 15 studio homes
There are 187 one (1) bedroom homes
There are 215 two (2) bedroom homes
There are 16 three (3) bedroom homes
There are 0 four (4) bedroom homes

There are currently 76 two-bedroom homes priced under $400,000 in North Vancouver and 85 one-bedroom homes priced under $300,000.

North Vancouver Condominium Homes For Sale By Community:
Blueridge – 3 homes for sale
Boulevard – 0
Braemar – 0
Calverhall – 0
Canyon Heights – 0
Capilano Highlands – 3
Capilano – 1
Central Lonsdale – 92
Deep Cove – 3
Delbrook – 1
Dollarton – 0
Forest Hills – 0
Grouse Woods – 0
Hamilton – 17
Hamilton Heights – 0
Indian Arm – 0
Indian River – 2
Lower Lonsdale – 167
Lynn Valley – 14
Lynnmour – 11
Norgate – 21
Northlands – 2
Pemberton Heights – 11
Pemberton – 31
Princess Park – 0
Queensbury – 0
Roche Point – 40
Seymour – 0
Tempe – 0
Upper Delbrook – 0
Upper Lonsdale – 10
Westlynn – 2
Westlynn Terrace – 0
Windsor Park – 2
Woodlands – Sunshine – Cascade – 0

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: