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Of the 17 condo sales on the North Shore reported between September 5 and 18, close to a quarter sold for at or over list price. That’s bucking the trend in Metro Vancouver which is seeing most condo properties go for less than asking. Two of those properties, both in the Northlands neighbourhood, went for well over list price (eight and 12 per cent more). It seems fair to assume they were priced to sell, with both taking in offers the owners couldn’t refuse in under a week.
The owners of the only Ambleside condo reported as sold during this time may the happiest of all. Their two-bedroom, 11-year-old home sold for $1,480,000. That was $15,000 less than they were asking but the deal was sealed quickly… the home sold as soon as it was listed.
At the other end of the waiting game spectrum, a one-bedroom condo in Roche Point sat on the market for 240 days before it found its new owners. They sealed a deal $20,000 below the $279,000 asking price.
In terms of what’s still available on the market, there’s a wide difference between the average list price in North and West Vancouver: $505,809 versus $1,278,531. Let’s take a look at the highs and lows in both areas.
North Vancouver has 323 of the North Shore’s 405 active listings. At the low end, a one-bedroom in Central Lonsdale hit the market four days before press time at $185,000. It’s a 45-year-old, 705-square-foot home. A short walk away in Lower Lonsdale, you will find North Vancouver’s most expensive current listing: a four-bedroom asking $2,688,000. It is 2,483 square feet and the building is eight years old. At the time of writing, it had been on the market for 122 days.
There are fewer choices in pricier West Vancouver; here there were 83 active listings. You can find yourself a cozy 632-square-foot, one-bedroom home in a 50-year-old building for $229,000. At the other extreme, $9,650,000 will buy you a three-bedroom, 3,324-square-foot luxury pad in Dundarave.
West Vancouver’s Park Royal is experiencing a condo-building renaissance. All of the district’s current brand-new and presale listings are there and all come with steep price tags, ranging from $975,900 to $3,380,000. Some of these homes are ready for occupancy now. Others don’t expect to be finished until 2017.
North Shore Condo Market Snapshot
