experts: real estate column Tuesday, June 06, 2000

NORTH SHORE CATALOGUE GETTING FATTER

More active properties for sale of every type (except one) in North and West Van.

By Alan  Skinner

More active properties for sale of every type (except one) in North and West Van. That exception is condo apartments in North Van where we are down over 11% below the same time last year. This, despite the fact that 14% fewer have sold this year to date vs. last year. I surmise that many of the current owners of condos have deferred their plans to move up based on a) a need to sell for more than the market presently would allow and b) a wait and see regarding the direction of the economy (uncertainty?). The ?chain reaction? is not reacting!

All other segments of North Van have slowed down with townhomes hardest hit at 2/3rds of last year?s level. The anomaly is that all segments? average prices are up.

West Van houses have fared best with over 30% more selling this year than to date last year. Average prices are up 23% assisted by a larger number of ?upper end? sales than last year. West Van townhomes are the only area of lower average prices and, with more than twice the inventory of last year at this time, the next few months does not appear to look favourably on sellers (Buyer opportunity ??)

Today may be a little quiet in our neighbourhoods but future indicators remain good. Desirability of our varied locations (Deep Cove to Lions Bay) ­ relatively short commute to downtown (when the L/G Bridge work is complete!) ­ quality of life (water/mountains etc) ­ health care rating (see Jun 5 Macleans? front page story ­top in Canada!) ­ a new government ?! - low crime ­ very little new development underway ?. to name a few.

When the demand comes with a vengeance, the limited supply can only cause our values to rise. Remember ... you heard it here !

Please don?t hesitate to call/e-mail with any questions on local real estate, whether buying, selling or just looking at future options.

Alan is the host of ?The Real Estate Show? (a Media Mentors? production) heard every Sunday between 2 and 3 pm on CFUN ­ AM 1410 (?Talk with Attitude?) - Listen in ­ Phone in with your questions!




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Recent Articles by this columnist:

Keeping Realtors Honest
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Resistance to change and compliance delay
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Yes, it's official - demand is rising
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All articles by Alan  Skinner

Related Links:

http://www.alanskinner.com/

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