what happened?
NORTH SHORE NEWS BANNER
DON EILERS DON EILERS T. 604.889.9449 [email protected] T. 604.889.9449 [email protected]
LAUREN KENT LAUREN KENT T. 604.671.6115
JILL WIERSMA JILL WIERSMA T. 604.341.1411
[email protected]
[email protected]
[email protected] T. 604.341.1411
[email protected] T. 604.671.6115
THE SNAPSHOT FOR JANUARY 2017
WHAT HAPPENED? JUST THE FACTS PLEASE! It was one of the most interesting years in my 25-year career in Real Estate. This year saw prices spiking in the beginning of 2016, unprecedented government intervention in the middle of the year, to ending with the third highest selling year on record (behind only 2015 and 2005). Simply put, the supply of homes couldn’t keep up with the huge demand in the first half of the year and with the lack of inventory for the last half we ended up only seeing a very modest softening of prices. In West Vancouver prices ended up 12.7% higher than the previous year and in North Vancouver average price was up over 19%. Sales volumes fell in both areas with West Vancouver at 834 sales for the year as compared to 1,075 in 2015. North Vancouver had 1,242 sales in 2016 which was down from the 1,481 in 2015. From a statistical point of view these numbers look great especially if you look at the 10-year average. It’s when you look at how dramatic the shift was in sales volume that it can look a bit scary.
Units UnitsListed Sold
Units Listed 350
Units ActiveSold Listings
Active Listings
NORTH VANCOUVER - DETACHED
70
250
60
Units Sold
50 40
150
30
100
Jul-2016
Aug-2016
Jun-2016
Apr-2016
May-2016
Mar-2016
Jan-2016
Dec-2016
Oct-2016
Nov-2016
Sep-2016
Dec-2016 Aug-2016
Oct-2016 Jun-2016
Nov-2016 Jul-2016
Sep-2016 May-2016
Jul-2016 Mar-2016
Jun-2016 Feb-2016
Aug-2016 Apr-2016
0 Apr-2016 Dec-2015
10
0
Feb-2016
20
50 May-2016 Jan-2016
Jan-2016
Units Listed
80
300
200
Dec-2015
NORTH VANCOUVER - A
Dec-2015
20 18 16 14 12 10 8 6 4 2 0
Dec-2016
Oct-2016
Nov-2016
Sep-2016
Jul-2016
Aug-2016
Jun-2016
Apr-2016
May-2016
Mar-2016
Jan-2016
Feb-2016
Dec-2015
Units Listed Units Sold Active Listings WEST VANCOUVER - DETACHED
NV-ATT
NORTHVANCOUVER VANCOUVER --DETACHED NORTH DETACHED WEST VANCOUVER - ATTACHED
Mar-2016
WEST DETACHED WESTVANCOUVER VANCOUVER --DETACHED 500 450 400 350 300 250 200 150 100 50 0
NV-DET
WV-ATT
Feb-2016
WV-DET
NORTH VANCOUVER - DETACHED NORTH VANCOUVER - A VANCOUVER - DETACHED WEST - ATTACHED Our team hadWEST a tremendous last 6 months for 2016 despite theVANCOUVER more challenging market conditions. We continued Dollar Volume Dollar Volume Dollar Volume Dollar Volume to search for value with our purchasers and when listing a home, we were very careful to price it correctly as over In Millions In Millions In Millions Millions 350 70 35 In reason priced listings600were abundant and that factor was the main that many didn’t sell following the implementation 300 60 30 500 of the foreign buyer tax. 250 50 25 400 As always Lauren, Jill and I would welcome the opportunity to assist tax 200 you. From questions about your current 40 20 300 150to be your real estate advisors so don’t hesitate 30 assessment to what’s going on in your neighbourhood, 15we are here 100 20 10 to contact us200 at any time.
1.0 0.5
Apr-2016
Feb-2016
Dec-2015
Oct-2015
Jun-2015
Aug-2015
Apr-2015
0.2
6
6
5
5
5
5
6
6
6
6
66
66
65
65
65
0.0 65
5
Feb-2015
0.6
1453 Bellevue Ave., West Vancouver, BC V7T 1C3 0.4 1453 Bellevue Ave., West Vancouver, BC V7T 1C3
0.0 5
Dec-2014
Dec-2016
Oct-2016
Aug-2016
Jun-2016
Apr-2016 Dec-2016
Feb-2016 Oct-2016
Oct-2015 Jun-2016
Dec-2015 Aug-2016
Aug-2015 Apr-2016
Feb-2016 Jun-2015
Dec-2015 Apr-2015
0.8
1.5
4
6
6
6
6
6
5
6
5
5
Media
In Millions
1.0
All Months Below 20 Sales
0.0
5
1.2
5
0.0
Ave. Price
In Millions
5
2.0
NORTH VANCOUVER - A
Median
4
0.0
0.0
5
Oct-2015 Feb-2015
Jun-2015
2.5
0.0 4
Aug-2015 Dec-2014
Apr-2015
Feb-2015
0.0
0.0 5
Ave. Price Median
Ave. Price
55
“TALK TO DON” “TALK TO DON”
NORTH VANCOUVER - DETACHED WEST VANCOUVER - ATTACHED
55
3.0 2.5 2.0 1.5 1.0 0.5 0.0
10
54
WEST VANCOUVER - DETACHED Ave. Price Median Don Eilers 4.5 In Millions 604.889.94494.0 3.5 [email protected]
Dec-2014
Dec-2016
Oct-2016
Jun-2016
Aug-2016
Apr-2016
Feb-2016
Dec-2015
Oct-2015
Jun-2015
Aug-2015
Apr-2015
Feb-2015
Dec-2014
Cheers,
50
5
5
100
All the best for 2017!
DON EILERS DON EILERS T. 604.889.9449 [email protected] T. 604.889.9449 [email protected]
LAUREN KENT LAUREN KENT T. 604.671.6115
JILL WIERSMA JILL WIERSMA T. 604.341.1411
[email protected]
[email protected]
[email protected] T. 604.341.1411
[email protected] T. 604.671.6115
THE SNAPSHOT FOR JANUARY 2017
WHAT HAPPENED? JUST THE FACTS PLEASE! It was one of the most interesting years in my 25-year career in Real Estate. This year saw prices spiking in the beginning of 2016, unprecedented government intervention in the middle of the year, to ending with the third highest selling year on record (behind only 2015 and 2005). Simply put, the supply of homes couldn’t keep up with the huge demand in the first half of the year and with the lack of inventory for the last half we ended up only seeing a very modest softening of prices. In West Vancouver prices ended up 12.7% higher than the previous year and in North Vancouver average price was up over 19%. Sales volumes fell in both areas with West Vancouver at 834 sales for the year as compared to 1,075 in 2015. North Vancouver had 1,242 sales in 2016 which was down from the 1,481 in 2015. From a statistical point of view these numbers look great especially if you look at the 10-year average. It’s when you look at how dramatic the shift was in sales volume that it can look a bit scary.
Units UnitsListed Sold
Units Listed 350
Units ActiveSold Listings
Active Listings
NORTH VANCOUVER - DETACHED
70
250
60
Units Sold
50 40
150
30
100
Jul-2016
Aug-2016
Jun-2016
Apr-2016
May-2016
Mar-2016
Jan-2016
Dec-2016
Oct-2016
Nov-2016
Sep-2016
Dec-2016 Aug-2016
Oct-2016 Jun-2016
Nov-2016 Jul-2016
Sep-2016 May-2016
Jul-2016 Mar-2016
Jun-2016 Feb-2016
Aug-2016 Apr-2016
0 Apr-2016 Dec-2015
10
0
Feb-2016
20
50 May-2016 Jan-2016
Jan-2016
Units Listed
80
300
200
Dec-2015
NORTH VANCOUVER - A
Dec-2015
20 18 16 14 12 10 8 6 4 2 0
Dec-2016
Oct-2016
Nov-2016
Sep-2016
Jul-2016
Aug-2016
Jun-2016
Apr-2016
May-2016
Mar-2016
Jan-2016
Feb-2016
Dec-2015
Units Listed Units Sold Active Listings WEST VANCOUVER - DETACHED
NV-ATT
NORTHVANCOUVER VANCOUVER --DETACHED NORTH DETACHED WEST VANCOUVER - ATTACHED
Mar-2016
WEST DETACHED WESTVANCOUVER VANCOUVER --DETACHED 500 450 400 350 300 250 200 150 100 50 0
NV-DET
WV-ATT
Feb-2016
WV-DET
NORTH VANCOUVER - DETACHED NORTH VANCOUVER - A VANCOUVER - DETACHED WEST - ATTACHED Our team hadWEST a tremendous last 6 months for 2016 despite theVANCOUVER more challenging market conditions. We continued Dollar Volume Dollar Volume Dollar Volume Dollar Volume to search for value with our purchasers and when listing a home, we were very careful to price it correctly as over In Millions In Millions In Millions Millions 350 70 35 In reason priced listings600were abundant and that factor was the main that many didn’t sell following the implementation 300 60 30 500 of the foreign buyer tax. 250 50 25 400 As always Lauren, Jill and I would welcome the opportunity to assist tax 200 you. From questions about your current 40 20 300 150to be your real estate advisors so don’t hesitate 30 assessment to what’s going on in your neighbourhood, 15we are here 100 20 10 to contact us200 at any time.
1.0 0.5
Apr-2016
Feb-2016
Dec-2015
Oct-2015
Jun-2015
Aug-2015
Apr-2015
0.2
6
6
5
5
5
5
6
6
6
6
66
66
65
65
65
0.0 65
5
Feb-2015
0.6
1453 Bellevue Ave., West Vancouver, BC V7T 1C3 0.4 1453 Bellevue Ave., West Vancouver, BC V7T 1C3
0.0 5
Dec-2014
Dec-2016
Oct-2016
Aug-2016
Jun-2016
Apr-2016 Dec-2016
Feb-2016 Oct-2016
Oct-2015 Jun-2016
Dec-2015 Aug-2016
Aug-2015 Apr-2016
Feb-2016 Jun-2015
Dec-2015 Apr-2015
0.8
1.5
4
6
6
6
6
6
5
6
5
5
Media
In Millions
1.0
All Months Below 20 Sales
0.0
5
1.2
5
0.0
Ave. Price
In Millions
5
2.0
NORTH VANCOUVER - A
Median
4
0.0
0.0
5
Oct-2015 Feb-2015
Jun-2015
2.5
0.0 4
Aug-2015 Dec-2014
Apr-2015
Feb-2015
0.0
0.0 5
Ave. Price Median
Ave. Price
55
“TALK TO DON” “TALK TO DON”
NORTH VANCOUVER - DETACHED WEST VANCOUVER - ATTACHED
55
3.0 2.5 2.0 1.5 1.0 0.5 0.0
10
54
WEST VANCOUVER - DETACHED Ave. Price Median Don Eilers 4.5 In Millions 604.889.94494.0 3.5 [email protected]
Dec-2014
Dec-2016
Oct-2016
Jun-2016
Aug-2016
Apr-2016
Feb-2016
Dec-2015
Oct-2015
Jun-2015
Aug-2015
Apr-2015
Feb-2015
Dec-2014
Cheers,
50
5
5
100
All the best for 2017!
