Welcome back to our breakdown of the market statistics in West Vancouver! April was an interesting month with once again and there are lots of things to cover. Including the highest condo sale in West Vancouver ever recorded on MLS! (There has been higher sales privately).Detached Homes:
- New Listings: April saw a substantial surge in new listings for detached homes, totaling 213 compared to 132 listed during the same period last year.
- Inventory: With the current inventory reaching 448 properties, the market continues to offer a wide array of options for discerning buyers seeking their ideal West Vancouver residence
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- Sales: Despite a decrease in the number of homes sold to 27, compared to 48 last year, it's essential to contextualize this against March's performance. The month-over-month comparison reveals nuances in sales activity, providing valuable insights into shifting market dynamics.
- Price Movements: The average sale price for detached homes settled at $3,362,000, reflecting relative stability compared to last year's $3,379,937. Similarly, the median sale price experienced a slight increase to $3,000,000 from $2,812,500. Notably, the highest-priced property sold reached $6,250,000, with the MLS Home Price Index (HPI) showing a notable 7.8% increase from last year, reaffirming the enduring appeal and value of West Vancouver real estate.
- New Listings: In the realm of attached properties, April welcomed 75 new listings, representing a notable increase from the 50 listed last year.
- Inventory: The current inventory remains stable at 143 properties, reflecting a balanced market landscape and ample choices for prospective buyers.
- Sales: April witnessed 24 attached properties sold, a significant increase from the 20 sold last year. This surge in sales activity highlights the resilience and attractiveness of attached properties in the West Vancouver market.
- Price Trends: The average sale price for attached properties rose to $2,026,416, demonstrating robust growth compared to last year's $1,530,250. Conversely, the median sale price experienced a slight decrease to $1,401,000 from $1,475,000. The highest-priced attached property sold for $9,000,000, with the MLS HPI recording a commendable 3.2% increase from last year.
- Inventory: Both detached and attached property inventories experienced continued growth, reflecting sustained market activity and a healthy supply of homes.
- Sales: While detached home sales witnessed a decrease month-over-month, attached property sales surged, indicating shifting buyer preferences or seasonal factors.
- Sales Prices: Average and median sale prices for detached homes remained relatively stable, whereas attached property prices displayed significant growth, underscoring the segment's attractiveness in the West Vancouver market.
If you are looking for specific insights for your specific neighbourhood, please feel free to reach out! We are experts at navigating all markets and can help advise you in your journey buying and or Selling Real Estate in West Vancouver.
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