April 2013 Numbers

We turn now to the ‘Year to Date’ figures for 2013. We now have the first quarter’s figures 2013 vs. 2012 (1/4 of a year is better than the 1/6 we had last month!)  .  North Van detached homes sold, down 14% from last year, attached (t/hses) down 17% and apartments down by 31% from 2012. Detached average prices are unchanged and inventory now up by 38%. Average prices down 4% (t/hses) and down 2% for (apts). Inventory (t/hses) 34% higher than Mar 31st 2012 and (apt) down from the same date by 4%. Remember that numbers here reflect only the activity in 3 months and these minimal figures should not be used to define a serious trend.

In West Van, detached number of sales for 2013 has dropped by 31% from 2012.  Average price of what has sold is unchanged and inventory up 21% over Mar 31st 2012. On the condo side – attached (t/hses) sold 2013 are down 54% from 2012 at 10 vs. 22 units. Active listings are up year over year from Mar 31st 2012 by 33% (56 vs. 42).  Apartments reflect 33 sold in 2013 vs. 44 by Mar 31st 2012; with average price up 25% from Mar 31st 2012 and active listings up 9% from Mar 31st 2012. Again the sample size is too small for meaningful analysis.

Overall North Shore demand is up a little over the last quarter of 2012 with overall inventory generally climbing since Jan 1st 2013. With this few actual sales to compare we are far more prone to anomalies e.g. possibly fewer “luxury units” selling in these lower demand times.  I continue using average YTD prices which will become more meaningful as we get more months’ stats to compare.

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