June 2024 West Vancouver Statistics

Welcome to our latest Analysis of the last month in the West Vancouver Housing Analysis. June was another fascinating month! We will take a deep dive and break it down here.


Detached Homes

New Listings: June saw 142 new listings for detached homes, a slight decrease from the 147 listed during the same period last year.

Inventory Analysis: The current inventory for detached homes stands at 514 properties, showing a slight decrease from May's 520 properties, indicating steady market activity.

Sales Dynamics: The number of detached homes sold was 29, compared to 32 sold last year. This is a decrease from the 35 homes sold in May, highlighting a slight drop in sales activity.

Price Insights: The average sale price for detached homes in June was $3,655,689, down from last year's $4,465,752. The median sale price also decreased to $2,941,000 from last year's $3,349,950. Notably, the highest-priced property sold reached $14,750,000, with the MLS Home Price Index (HPI) showing a 3.6% increase from last year, reflecting the sustained value of West Vancouver real estate.


Attached Properties

New Listings: The attached property segment saw 72 new listings in June, up from 63 last year, indicating a healthy influx of options for buyers.

Inventory Assessment: The current inventory stands at 168 properties, showing an increase from May's 129 properties, suggesting a growing supply in the market.

Sales Performance: June recorded 21 attached properties sold, a decrease from 33 sold last year, and down from 32 sold in May, highlighting a decline in sales activity.

Price Trends: The average sale price for attached properties was $1,584,519, up from last year's $1,475,598. However, the median sale price decreased to $969,900 from $1,100,000 last year. The highest-priced attached property sold for $8,850,000, with the MLS HPI recording a modest 0.1% increase from last year.


Month-over-Month Analysis
Comparing June's performance to May, some trends emerge;

Inventory: Both detached and attached property inventories experienced changes, with detached homes seeing a slight decrease and attached properties seeing an increase.

Sales: Detached home sales as well as attached sales both decreased month-over-month!

Sales Prices: Average sale prices for both detached and attached homes increased, while median prices decreased. The MLS HPI for both categories saw a moderate decrease. 

Conclusion:
West Vancouver's real estate market continues to evolve, with varying trends in inventory, sales, and pricing. The market remains resilient, with significant value in both detached and attached properties. West Vancouver continues to offer attractive opportunities for buyers and the values continue to remain stable despite turbulence in pricing of other markets.

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