As seen in...
Westcoast Condominium
Summer traditionally shows a slowdown in real estate sales and that was certainly apparent in West Vancouver. This municipality showed a 34 per cent decrease in sales last month over May. North Vancouver defied that trend, with sales up 0.7 per cent for the same time period.
Sellers have no reason to worry. Our reports show condos in both markets still moving quickly and most selling at or over asking price (80 per cent in West Vancouver and 76 per cent in North Vancouver).
Hamilton
Conveniently located within walking distance of transit and many sought-after amenities, there are currently 10 active condo listings in the Hamilton neighbourhood. These start at $309,900 for a one-bedroom in Panorama Court and go no higher than $1,388,000 for a three-bedroom in Remix that was brand new to the market on June 30.
A two-bedroom in Remix takes the area award for highest over-asking sale in June. The sellers only had to wait 11 days before accepting an offer of $553,500 – 12 per cent more than their $489,000 list price. The owners of a two-bedroom in Gateway had to lower their expectations. They sold for three per cent under their $565,000 preferred price after 17 days.
Ambleside
With its beachside location, it’s no wonder this is one of the North Shore’s favourite neighbourhoods. There are 15 condos on the market beginning with a one-bedroom in Oceanbrook that joined the market in late June for $348,500. There are plenty of homes with million dollar views and prices to match. The most expensive current condo listing is a three-bedroom in Ambleside Citizen whose sellers are hoping for $2,998,000.
Just a handful of condos changed hands in June and none went for less than asking. The greatest difference was the 21 per cent over asking that the buyers of a two-bedroom in Parkview Tower paid. Listed at $799,000, it sold for a touch over a million.
For a full summary of the North Shore condo market in June 2016, check out our infographic below.
North Shore Condo Market Snapshot June 2016
