Competition among home buyers continues to put pressure on home prices in North Vancouver housing market.
The Real Estate Board of Greater Vancouver reported that the residential homes sales in North Vancouver totaled 465 in March 2021, a 129.1% increase vs 203 same time last year.
For all property types, the sales-to-active listings ratio for March 2021 in North Vancouver was 82%. Broken down into each property type, the ratio is 79.9% for detached homes, 83.5% for condos, and 79.8% for townhomes.
According to Taylor Biggar, REBGV Chair,
“In March, residents bought and listed homes across our region at levels not seen before. This surge in activity is increasing upward pressure on prices. We’re beginning to see double-digit price gains for single-family homes and townhomes over the last 12 months."
In North Vancouver, there were 691 detached, attached and apartment properties newly listed for sale in March 2021. This represents a 98.6% increase compared to the 348 homes listed for sale in March 2020.
“Today’s activity can be attributed, in part, to an economy that’s showing signs of recovery, historically low interest rates, high demand for space, and increased household savings,” Biggar said.
