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March was good to North Van condo owners… and even better to West Van ones. Sales were up over the previous month by 21 per cent in North Vancouver and a gigantic 47 per cent in its westerly neighbour. And those buyers weren’t cash poor. The median selling price of a condo in West Van where 25 properties changed hands last month was $945,800. That makes North Van seem positively affordable with a median selling price of $465,000. Condo owners there have also watched their investments climb steadily. The median selling price of a condo in North Van a year ago was $405,000. Even in February, the median selling price was $435,000.
How intense is the heat on the North Shore? It all depends where you look. Properties in March sold from anywhere from 10 per cent under asking to 24 per cent over.
Panorama Village
Known for its spectacular views, Panorama Village has four active listings in four different buildings along Folkstone Way. These start at $699,900 for a one-bedroom in Panorama Gardens and go as high as $1,268,000 for a two-bedroom in Panorama Village. Pick any of these homes if amazing views are what’s most important to you.
Several sales were reported in the neighbourhood last month. A two-bedroom in Panorama Gardens finally found a new owner after 125 days on the market. The seller settled for two per cent under their $1,298,000 asking price. It was a happier story for the owner of a two-bedroom in Panorama Village. That unit spent only eight days on the market and sold for $1,610,000 – 15 per cent higher than asking.
Deep Cove
This waterfront community with its quaint village is a destination for many day trippers. Condos are few and far between and there is currently only one listing. It came on the market April 1 and is a two-bedroom in The Coveside. Asking price? $588,000.
When it comes to sales, properties move fast. A one-bedroom in Mariner’s Cove sold in mid-March after 11 days. Asking $430,000, the sellers walked away with 17 per cent on top of that: $501,000.
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