Across Greater Vancouver, new listings and sales pick up as asking prices remain high, finds weekly #REWCAP analysis
An iconic oceanfront home in West Vancouver is back on the market for $22.68 million, after having been listed for slightly above that price just over a year ago.
The stunning, retro-style modern mansion on a gated estate atop a rocky bluff in Whytecliff has seven bedrooms, eight bathrooms, 9,294 square feet of living space and an incredible pool (see this awesome photo gallery from its August 2016 listing). The house was re-listed on September 21 at a slightly lower price than the $23.5 million it asked last year – but still by far the highest-priced new Greater Vancouver listing to come on the market last week.
The vendors are clearly hoping to capitalize on the rising fall market activity, which picked up somewhat in the week September 17-25, compared with the mediocre performance of the previous week, according to an analysis of Multiple Listing Service® data.
Total home inventory (as of September 28) stayed level with the previous week, but homes newly listed between September 17 and 25 increased by nearly 400 units to 1,606 homes, suggesting the additional inventory was absorbed in higher sales.
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Having breached the $2 million mark the previous week, the median listing price of a Greater Vancouver detached home rose slightly again, to $2,088,000. The townhome median listing price dropped by $8,000 from the previous week, and condo prices remained exactly the same at $688K.
Another headline new listing to come onto the market last week was one of the condos in the Private Residences at the Hotel Georgia. The priciest new condo listing of the week, this 16th-floor, four-bedroom, 2,664-square-foot luxury unit was put up for sale on September 20, for $5,888,000. This makes it the largest and most expensive of the five units currently available on the MLS® in that building.