February was an interesting month in West Vancouver. With lots more inventory coming out onto the market, buyers were there to match. With the bank of Canada announcing no rate change on March 6th, citing heating up the housing market too much, and bond market softening leading to more discounts on fixed rates we are curious to see where March takes us.
- New Listings: The month saw 98 new listings for detached homes, contributing to the robust inventory, which now stands at 378 properties.
- Sales Performance: Noteworthy is the sale of 29 detached homes, representing a marginal increase from the 28 sold during the same period last year. The average sale price settled at $3,211,103, displaying a slight decrease from last year's $3,445,464.
- Median Sale Price: Maintaining stability, the median sale price for detached homes this February stands at $2,890,000, compared to last year's $2,867,000.
- Highest Price: The highest-priced property sold this month reached $6,550,000, indicating a modest decline from last year's peak of $7,800,000.
In the first week of March we have already seen a notable increase in both New listings, and sales so tune in Next month! Overall we are still feeling a positive sentiment for the West Vancouver Market, as well as the market for the North Shore in General!Curious about your neighbourhood, or looking to plan out your next move?orand we are happy to give tailored advice as well as a detailed market analysis!