Q2 2018 VS. Q2 2017 DETACHED NORTH VAN · • Remember that you only need to qualify at the higher...

Q2

NO

RTH

VA

N

Apr, May, June & Q2 2018NORTH VAN

UNIT SALES

224 38%TOTAL ACTIVE LISTINGS

449 41%

HPI (combined total)

$1,683,600 0.42%

AVE. DAYS ON MARKET

25 4%

UNIT SALES

96 19%

UNIT SALES

278 24%

TOTAL ACTIVE LISTINGS

115 71%

TOTAL ACTIVE LISTINGS

213 108%


$602,800 14%


$1,049,900 7.59%

AVE. DAYS ON MARKET

14 27%

AVE. DAYS ON MARKET

15 8%

Q2 2018 VS. Q2 2017

DETACHED

TOWNHOME

CONDOCONDO

PAGE 2Faith’s Exclusive North Vancouver Analysis

Right now, mid-year of the third year of the most dramatic expansion of the Metro Vancouver housing market in history, is a challenging time for both buyers and sellers.

In the past three years the benchmark home price

has increased 63%. If this wasn’t enough of a barrier to buyers, since the first of the year the federal government has introduced stringent mortgage regulations, including the infamous stress test, and mortgage rates have increased. Foreign homebuyers are now subject to a 20% tax on their purchase, the highest rate in the world outside of Asia.

Home sellers, as a result, have seen sales fall nearly 30% below the 10-year average.

The media and most pundits are referring to a “housing crisis” with some calling for even more extreme measures to curb housing demand.

So, let’s inject some reality into the discussion.

In the past six months, approximately 23,300 homes have sold through the Multiple Listing Service in Greater Vancouver and the Fraser Valley at an overall benchmark price approaching $800,000. In June alone, on average, 129 homes sold every day.

Hundreds of people continue to buy homes and will continue to do so. The majority are not speculators or foreign investors: they are local families, first-time buyers and downsizers who simply need a home and recognize the inherent advantages of homeownership.

But there is no arguing that both buyers and sellers need, more than ever, to be working with a real estate agency with long experience, deep market knowledge and a proven record of performance and service.

Faith Wilson Group has been awarded the Real Estate Board of Greater Vancouver

Lifetime Achievement Award, an honour that recognizes outstanding sales performance but also a consistent commitment to fair dealing and client service during more than two decades in the industry. We have always provided our exclusive Peace of Mind Guarantee for both Buyers and Sellers through the many real estate cycles this market has experienced. We stand behind this guarantee because we believe that is the only way to treat each and every client, whether they are buying their first condo or a legacy estate for their family. And despite market conditions.

Challenging times beget opportunity, often life-changing opportunities. Today is no

exception. There is a now a tremendous inventory of homes available in every price range and neighbourhood. There are also a huge number of people aspiring to own a home, including the estimated 40,000 people moving into Metro Vancouver each year.

Stick with your plan, have faith in your dream and work with the people who will help you achieve it.

Warmest Reguards,

Now is when working with a true professional pays off

The information included in this report is based on residential sales data and statistcal information sourced and compiled from the Real Estate Board of Greater Vancouver’s MLXchange database and the REALTOR Link® website. The information is current as of March 1st, 2018 and is subject to change by the REBGV. Faith Wilson Realty Group Inc., makes no guarantees as to the accuracy of the information provided and is not responsible for changes, errors or omissions to this information.

Discover YOUR neighbourhood's real estate market activity,

trends & benchmark pricing.

Finding the right home in the right neighbourhood can be a challenge. That is why we have our exclusive Neighbourhood Profiles available for you on our web site. Each profile features: • Information on the neighbourhood's

schools, housing, recreation, shopping, restaurants, transportation and more.

• A summary of CURRENT active listings, arranged by property type and showing the number of units available and the median asking price.

• Up-to-date MLS® HPI Benchmark prices AND price changes from one month to five years - a rich resource to instantly see the price trend of the type of home you are interested in, within your specific neighbourhood.

To do so, visit FaithWilsonGroup.com and find out about Vancouver Westside, Eastside, Downtown, North Vancouver, South Surrey and Richmond neighbourhoods. With more coming soon.


Resurging confidence in the Canadian economy and employment are boosting home buying intentions to the highest levels since 2010, despite the Federal Government’s new mortgage “stress test.” According to the Annual RBC Home Ownership Poll, 32% of Canadians are very or somewhat likely to buy a home in the next two years, up seven percentage points from last year. In BC, the numbers are higher, with 36% intending to purchase. That’s an 11% increase from 2017. The new guidelines are however impacting purchase decisions, including making higher down payments, delaying home purchases or buying a less expensive, smaller home or moving to a less expensive location. As intentions to buy continues to climb in Canada, just over one one-third of Canadians indicated they had received or would be receiving financial assistance from their family for a down payment, while almost an equal number plan to do it on their own with a dedicated savings account.

Biggest challenge: Finding the right property The top two home buying challenges buyers face are choosing the right property and deciding how much they can afford. For most, this journey begins online, and home owners

revealed they spent an average of five weeks searching online for their current home. In fact, nearly one-in-10 millennials said they would purchase a home without ever physically seeing it. Overall, Canadians value being able to “visit” a home virtually, with almost half saying they looked at photos/videos of prospective homes online. Finally, to help determine costs and affordability, 39% of home owners took valuations of neighboring homes into account, and 36% used affordability calculators.

Millennials are feeling more confident about jobs, economy – and home purchase intentions Millennials (ages 18-34) express the strongest of those with home buying intentions (50%), according to the annual RBC Home Ownership Poll. Compared to 2017, more millennials now believe that a home purchase is a good investment. In fact, 84% responded it’s a “very good or good investment” vs. 79% in 2017. Millennials are also feeling less anxiety about employment (36% vs. 47% in 2017)

Interest rates driving home buying intentions Sixty one percent of Canadians are very or somewhat concerned about interest rate

increases – a jump of almost 10% from last year. Over one-third are thinking about buying a home sooner because of current low interest rates, while another one-third are also thinking of doing so because of a potential increase in interest rates.

Future proof your financial life. Do your own stress test. While optimism about the job market and the economy has increased, it can also lead us to feel overly optimistic about what we can afford. Your home is more than just a place to live. It is a big investment that can impact your plans to retire, your ability to afford an education for your child or it can make things tight on a monthly basis. Whether you’re buying your first home or helping your children buy their first home, it’s important to meet with an expert to get a better idea of what impact that will have on your long term savings plan.

Canadians Reveal Highest Home Purchase Intent in Eight Years

Kathy Wu Nikki Voutsilakos

Mortgage SpecialistRBC Royal Bank

[email protected]

Mortgage SpecialistRBC Royal [email protected]

Stress Test Need Not Stall Move-Up PlansBob and Jean have owned their Burnaby bungalow for seven years and planned to move up to a larger house as the children became older. With a good credit rating, a stable household income and 40% worth of equity in a house assessed at $1.5 million, the couple were surprised when they went to their bank for a pre-approved mortgage for their move-up purchase.

Since the new mortgage stress test was introduced on January 1, the couple found that they could not qualify for the quality of home they really wanted.

The Office of the Superintendent of Financial Institutions mortgage stress test requires that buyers with more than a 20 per cent down payment must qualify at Bank of Canada’s 5 year benchmark rate, which is currently set at 5.34%, or at the current contracted rate plus 2% whichever is higher.

For Bob and Jean this meant that, despite never being late with a mortgage payment and willing to put down a substantial down payment, their purchasing power was

reduced by about 20%. Planning to move up to a larger house worth $1.8 million to $1.9 million, they were told they could qualify at $1.5 million or less. In other words, the same house they already own.

The stress test is meant to ensure buyers can afford a mortgage if lending rates should increase. However, a mere 0.16% of B.C. mortgage holders are currently in arrears, meaning they have missed three or more mortgage payments. This means just 1,008 out of 644,984 mortgage holders in B.C. are behind in mortgage payments. This is the second-lowest mortgage arrears rate in Canada and the lowest default rate among all other forms of consumer debt.

Over the past 15 years, through fluctuating mortgage rates, Canada’s overall mortgage arrears rate has never risen above 0.35%.

So, logic aside, what can a move-up buyer do to achieve the home they want?

Here is some advice from the Faith Wilson Group mortgage specialist:

• Remember that you only need to qualify at the higher rate, not actually pay it. The best five-year rate today is 3.59%, so even if the new stress test requires you to qualify at 5.34%, you would be paying the contracted rate of 3.59% on your mortgage once you qualify for the loan.

• Use the existing equity in the home to eliminate smaller debts, such as credit cards and car loans, to make your mortgage application more acceptable. (Note, however, that refinancing a home is also subject to the stress test at federally regulated lenders.)

• Consider taking the maximum-allowed 30-year amortization on a non-insured mortgage, which will reduce your monthly payments compared to the convention 25-year amortization.

The bottom line advice: talk to mortgage professional and you may find that, despite the stress-test, you can buy the move-up home you want and can afford nearly stress free.

Welcome our newMortgage Specialists

- Kevin Lutz, Regional Manager, Residential Mortgages Follow Kevin on Twitter @RBCKevinLutz


OCTOBER - SINGLE FAMILY DETACHED HOMESOCTOBER - SINGLE FAMILY DETACHED HOMESAPRIL - SINGLE FAMILY DETACHED HOMES

SALES AND BENCHMARK PRICES BY NEIGHBOURHOOD

BENCHMARK PRICE CHANGE (%)

MLS® Neighbourhood Unit Sales HPI Benchmark Price 1 Month 3 Months

Blueridge NV 3 $1,729,200 -2.15 0.93

Boulevard 3 $1,851,600 1.25 0.07

Braemar 0 $2,406,200 0 3.28

Calverhall 1 $1,536,800 0.75 -0.08

Canyon Heights NV 5 $1,939,400 -1.24 2.61

Capilano NV 1 $1,756,900 -1.82 2.22

Central Lonsdale 3 $1,509,000 -0.35 0.08

Deep Cove 2 $1,667,600 -2.77 0.36

Delbrook 0 $1,815,200 -1.82 2.16

Dollarton 0 $1,810,300 -2.84 0.44

Edgemont 3 $2,107,400 -2.34 1.79

Forest Hills NV 1 $2,028,900 -1.11 1.97

Grouse Woods 1 $1,879,000 -0.47 3.65

Hamilton 2 $1,439,000 1.04 2.64

Indian River 0 $1,525,800 -0.04 -0.24

Lower Lonsdale 1 $1,560,900 -0.35 1.42

Lynn Valley 9 $1,543,300 -2.1 3.48

Lynnmour 0 $1,228,600 -0.36 0.7

Norgate 2 $1,335,700 0.84 1.61

Northlands 0 $2,193,800 -0.93 -1.22

Pemberton Heights 3 $1,934,300 -0.17 1.01

Pemberton NV 0 $1,266,300 0 0.27

Princess Park 0 $1,687,700 -0.34 3.29

Queensbury 3 $1,488,700 0.58 -1.18

Roche Point 0 $1,484,300 -0.64 -0.88

Seymour 0 $1,513,200 -3.02 1.92

Tempe 0 $1,874,400 -0.9 4.61

Upper Delbrook 3 $1,949,600 -1.72 2.66

Upper Lonsdale 1 $1,747,700 -0.99 4.41

Westlynn 2 $1,419,000 -1.68 1.89

Westlynn Terrace 1 $1,544,600 -2.46 1.7

Windsor Park NV 4 $1,466,400 -0.31 3.27

Combined Total 55 $1,703,400 -1.15 1.99

Price Segment ($) New Listings Added Unit Sales

0 – 1,000,000 3 0 0%

1,000,000 – 1,100,000 0 1 0

1,100,001 – 1,200,000 1 0 0%

1,200,001 – 1,300,000 5 1 20%

1,300,001 – 1,400,000 19 6 32%

1,400,001 – 1,500,000 15 6 40%

1,500,001 – 1,600,000 24 4 17%

1,600,001 – 1,700,000 25 7 28%

1,700,001 – 1,800,000 13 5 38%

1,800,001 – 1,900,000 11 4 36%

1,900,001 – 2,000,000 13 3 23%

2,000,001 – 2,250,000 21 8 38%

2,250,001 – 2,500,000 28 3 11%

2,500,001 – 2,750,000 15 3 20%

2,750,001 – 3,000,000 22 0 0%

3,000,001 + 31 4 13%

Totals 246 55 22%

LISTING AND SALES ACTIVITY BY PRICE SEGMENT

SALES PRICE MONTHLY TREND

FAITH’S KEY INSIGHTS:n North Vancouver detached house sales fell 50% in April when compared with

April of last year to just 55 houses. Yet 1,442 new homes have started this year in North Vancouver compared to just 98 at the same time last year. Residential development cues off fundamentals: Canada’s lowest unemployment rate, surging immigration that will flow 40,000 more people into Metro Vancouver this year; and a robust economy. But homebuyers often act on perception and, after the mortgage stress test, the speculation tax, the increase in the foreign-homebuyer tax and the school tax increase on higher-priced homes, the perception has understandably shifted to caution. It will take awhile to realize that only the perception, not the market fundamentals, has changed.

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Sales

Price

$2,000,000 $1,900,000 $1,800,000 $1,700,000 $1,600,000 $1,500,000 $1,400,000

OCT NOV DEC JAN FEB MAR

60

50

40

30

20

10

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DAYS ON MARKET MONTHLY TREND

Days

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Sales-to-New-Listings Ratio

NOV. 17 DEC. 17 JAN. 18 FEB. 17 MAR. 17 APR. 18

$1,844,504

$1,745,000

$1,786,897

$1,696,800

$1,775,629

$1,680,000

$1,756,688

$1,727,000

$1,928,101

$1,765,000

$1,959,675

$1,790,000

28

17

29

20

38

19

37

14

38

20

22

13

Janaury 55 51 -7.3%February 83 58 -30.1%March 97 73 -24.7%April 110 55 -50.0%May June Total 345 237 -31.3%

2017 2018 CHANGEUNIT SALES (BY MONTH)

THE REAL NEIGHBOURHOOD RESULTS: APR 2018THE REAL NORTH VAN RESULTS: APR 2018


OCTOBER - SINGLE FAMILY DETACHED HOMESOCTOBER - SINGLE FAMILY DETACHED HOMES

January 55 51 -7.3%February 83 60 -27.7%March 97 74 -23.7%April 110 73 -33.6%May 142 67 -52.8%June Total 487 325 -33.3%





Blueridge NV 5 $1,754,700 1.48 2.79

Boulevard 6 $1,845,500 -0.33 0.44

Braemar 0 $2,352,200 -2.25 0.48

Calverhall 1 $1,558,500 1.41 1.37

Canyon Heights NV 7 $1,919,300 -1.03 -0.56

Capilano NV 0 $1,765,100 0.46 -0.7

Central Lonsdale 3 $1,532,500 1.56 -0.08

Deep Cove 3 $1,675,500 0.48 1.6

Delbrook 0 $1,806,600 -0.47 -1.16

Dollarton 1 $1,841,000 1.7 2.5

Edgemont 5 $2,107,400 0 -0.78

Forest Hills NV 2 $2,005,300 -1.16 -1.98

Grouse Woods 1 $1,850,000 -1.54 0.97

Hamilton 2 $1,437,900 -0.07 0.3

Indian River 1 $1,515,200 -0.69 0.12

Lower Lonsdale 0 $1,551,000 0.5 3.14

Lynnmour 0 $1,186,800 -3.4 -2.58

Norgate 0 $1,321,000 -1.09 1.16

Northlands 0 $2,177,000 -0.77 -0.51

Pemberton Heights 1 $1,946,300 0.62 -0.1

Pemberton NV 1 $1,275,100 0.7 -0.15

Princess Park 2 $1,694,700 0.42 3.32

Queensbury 0 $1,504,200 1.04 0.15

Roche Point 0 $1,501,100 1.13 0.16

Seymour 2 $1,517,300 0.27 4.07

Tempe 0 $1,860,200 -0.76 1.89

Upper Delbrook 1 $1,947,400 -0.11 -0.79

Upper Lonsdale 7 $1,757,700 0.57 4.31

Westlynn 2 $1,425,000 0.43 2.53

Westlynn Terrace 0 $1,563,200 1.2 3.08

Windsor Park NV 0 $1,479,900 0.93 3.89

Combined Total 67 $1,708,500 0.3 1.29


0 – 1,000,000 1 1 100%

1,000,000 – 1,100,000 2 0 0%

1,100,001 – 1,200,000 2 0 0%

1,200,001 – 1,300,000 3 4 133%

1,300,001 – 1,400,000 17 7 41%

1,400,001 – 1,500,000 19 6 32%

1,500,001 – 1,600,000 13 4 31%

1,600,001 – 1,700,000 23 11 48%

1,700,001 – 1,800,000 18 6 33%

1,800,001 – 1,900,000 16 2 13%

1,900,001 – 2,000,000 10 3 30%

2,000,001 – 2,250,000 21 4 19%

2,250,001 – 2,500,000 36 4 11%

2,500,001 – 2,750,000 18 6 33%

2,750,001 – 3,000,000 25 4 16%

3,000,001 + 22 5 23%

Totals 246 67 27%



FAITH’S KEY INSIGHTS:n It’s nothing personal, house sellers. Sales of North Vancouver detached houses

were down 52% in May compared to May of last year, but it is not just in North Vancouver: detached sales have declined by similar levels across Metro Vancouver since January after mortgage financing became more difficult and the provincial government began adding new taxes and regulations onto the market. In May, just 67 North Vancouver houses sold. This will pass, I believe. Buyers will recognize that the North Vancouver benchmark detached house price, at $1.6 million, has barely budged (up 1.2%) in three months and that there is a huge selection with more than 246 new listings in May and at least 200 other active listings in a dynamic buyer’s market.

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Sales

Price

$2,000,000 $1,900,000 $1,800,000 $1,700,000 $1,600,000 $1,500,000 $1,400,000

DEC. 17 JAN. 18 FEB.18 MAR. 18 APR.18 MAY 18

60

50

40

30

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$1,930,798

$1,599,000

$1,756,688

$1,727,000

$1,928,101

$1,765,000

$1,959,675

$1,790,000

$1,882,132

$1,700,000

$2,006,789

$1,705,000

29

20

38

19

37

14

38

20

22

13

27

15

MAY - SINGLE FAMILY DETACHED HOMES

THE REAL NEIGHBOURHOOD RESULTS: MAY 2018THE REAL NEIGHBOURHOOD RESULTS: MAY 2018


THE REAL NEIGHBOURHOOD RESULTS: JUNE 2018




Blueridge NV 2 $1,760,900 0.35 -0.35

Boulevard 4 $1,868,400 1.24 2.17

Braemar 0 $2,314,500 -1.6 -3.81

Calverhall 1 $1,580,100 1.39 3.58


Capilano NV 0 $1,690,600 -4.22 -5.52


Deep Cove 1 $1,686,000 0.63 -1.69

Delbrook 1 $1,722,000 -4.68 -6.86

Dollarton 2 $1,821,700 -1.05 -2.22

Edgemont 4 $2,008,500 -4.69 -6.93

Forest Hills NV 2 $1,914,500 -4.53 -6.69

Grouse Woods 1 $1,815,000 -1.89 -3.86

Hamilton 1 $1,413,100 -1.73 -0.78

Indian River 1 $1,535,700 1.35 0.61

Lower Lonsdale 0 $1,571,800 -1.17 0.35

Lynn Valley 7 $1,534,500 -1.07 -2.66

Lynnmour 0 $1,246,500 5.04 1.09

Norgate 0 $1,328,100 0.53 0.27

Northlands 0 $2,226,400 2.27 0.55

Pemberton Heights 3 $1,923,600 -1.16 -0.72

Pemberton NV 0 $1,286,900 0.92 1.63

Princess Park 1 $1,679,300 -0.91 -0.83

Queensbury 2 $1,526,000 1.45 3.1

Roche Point 2 $1,520,200 1.27 1.76

Seymour 0 $1,512,700 -0.31 -3.06

Tempe 0 $1,812,100 -2.59 -4.19

Upper Delbrook 1 $1,858,300 -4.57 -6.32

Upper Lonsdale 9 $1,712,000 -2.6 -3.01

Westlynn 1 $1,426,100 0.08 -1.18

Westlynn Terrace 1 $1,565,000 0.12 -1.17

Windsor Park NV 0 $1,466,900 -0.88 -0.27

Combined Total 59 $1,683,600 -1.46 -2.3


0 – 1,000,000 3 1 33%

1,000,000 – 1,100,000 0 0 0%

1,100,001 – 1,200,000 2 1 50%

1,200,001 – 1,300,000 7 2 29%

1,300,001 – 1,400,000 11 8 73%

1,400,001 – 1,500,000 15 5 33%

1,500,001 – 1,600,000 14 8 57%

1,600,001 – 1,700,000 14 8 57%

1,700,001 – 1,800,000 10 0 0%

1,800,001 – 1,900,000 8 6 75%

1,900,001 – 2,000,000 8 4 50%

2,000,001 – 2,250,000 21 5 24%

2,250,001 – 2,500,000 21 4 19%

2,500,001 – 2,750,000 14 4 29%

2,750,001 – 3,000,000 7 2 29%

3,000,001 + 28 1 4%

Totals 183 59 32%


THE REAL NORTH VAN RESULTS: JUNE 2018


FAITH’S KEY INSIGHTS:n Detached house sales in North Vancouver fell to 59 units in June, down 46.4%

from June 2017. In half of the 32 neighbourhoods we monitor there was 1 or no house sales in the month. This is strange for June, traditionally one of the strongest sales months of the year. Of course, buyers are facing an unprecedented series of new mortgage regulations, housing taxes, and the threat of another hike in mortgage rates. We understand the current buyer angst, but we also believe the market will correct sooner than most expect. Many aspire to own a North Vancouver house, and will recognize there is a healthy selection today and that benchmark prices, at $1.68 million, have been declining since March.

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Sales

Price

$2,100,000 $2,000,000 $1,900,000 $1,800,000 $1,700,000 $1,600,000 $1,500,000

JAN FEB MAR APR MAY JUNE

60

50

40

30

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$1,756,688

$1,727,000

$1,928,101

$1,765,000

$1,959,675

$1,790,000

$1,882,132

$1,700,000

$1,964,853

$1,962,500

$1,853,685

$1,638,000

38

19

37

14

38

20

22

13

27

15

26

18

Janaury 55 50 -9.1%February 83 60 -27.7%March 97 73 -24.7%April 110 73 -33.6%May 142 92 -35.2%June 110 59 -46.4%Total 597 407 -31.8%


JUNE - SINGLE FAMILY DETACHED HOMES


FAITH’S KEY INSIGHTS:n North Vancouver’s detached house market has changed from the second

quarter (Q2) of 2017 to this year’s second quarter. At this time last year there were 4 detached houses in North Vancouver listed at $1.1 million or less. This year there were 9, including 7 listed at less than $1 million. There are also more listings. In Q2, 675 new listings for detached houses were added and, with 224 sales, the sales-to-new-listing ratio was 33%, compared to 56% one year earlier. With the lower sales, which were down 38% in Q2 compared to Q2 2017, the benchmark detached house price was down 2.3% from Q1, at $1.63 million. A bigger selection with lower prices: buyers are enjoying a major advantage.

Q2 - SINGLE FAMILY DETACHED HOMES

THE REAL NEIGHBOURHOOD RESULTS: Q2 2018



THE REAL NORTH VAN RESULTS: Q2 2018

SALES PRICE QUARTERLY TREND

Unit Sales (by Quarter)

Q1

Q2

Q3

Q4Year-to-Date Totals

2017234

362

596

2018178

224

402

Change (%)

-23.9%

-38.1

-32.6%

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Sales

Price

$2,000,000$1,900,000 $1,800,000 $1,700,000 $1,600,000$1,500,000$1,400,000

$1,940,093

$1,738,000

$1,912,377

$1,757,500

$1,834,493

$1,689,000

$1,874,922

$1,745,000

$1,908,614

$1,681,500

Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018

40

35

30

25

20

15

10

24

11

28

15

27

17

34

16

25

15

DAYS ON MARKET QUARTERLY TREND

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Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018

MLS® Neighbourhood Unit Sales HPI Benchmark Price 3 Months 1 Year

Blueridge NV 14 $1,760,900 -0.35 -0.23

Boulevard 16 $1,868,400 2.17 2.02

Braemar 0 $2,314,500 -3.81 -0.35

Calverhall 4 $1,580,100 3.58 4.08


Capilano NV 1 $1,690,600 -5.52 -1.1

Central Lonsdale 14 $1,523,100 0.58 2.2

Deep Cove 8 $1,686,000 -1.69 -0.51

Delbrook 1 $1,722,000 -6.86 -6.5

Dollarton 3 $1,821,700 -2.22 -1.77

Edgemont 14 $2,008,500 -6.93 -5.64

Forest Hills NV 5 $1,914,500 -6.69 -5.5

Grouse Woods 4 $1,815,000 -3.86 0.41

Hamilton 6 $1,413,100 -0.78 1.4

Indian River 3 $1,535,700 0.61 -0.56

Lower Lonsdale 3 $1,571,800 0.35 1.87

Lynn Valley 35 $1,534,500 -2.66 1.05

Lynnmour 0 $1,246,500 1.09 2.14

Norgate 2 $1,328,100 0.27 1.19

Northlands 0 $2,226,400 0.55 0.21

Pemberton Heights 8 $1,923,600 -0.72 2.3

Pemberton NV 1 $1,286,900 1.63 3.93

Princess Park 3 $1,679,300 -0.83 0.31

Queensbury 6 $1,526,000 3.1 4.36

Roche Point 2 $1,520,200 1.76 1.07

Seymour 2 $1,512,700 -3.06 -1.92

Tempe 0 $1,812,100 -4.19 1.52

Upper Delbrook 5 $1,858,300 -6.32 -4.17

Upper Lonsdale 20 $1,712,000 -3.01 0.48

Westlynn 12 $1,426,100 -1.18 -0.57

Westlynn Terrace 3 $1,565,000 -1.17 0.42

Windsor Park NV 4 $1,466,900 -0.27 1.17

Combined Total 224 $1,683,600 -2.3 -0.42


0 – 1,000,000 7 4 57%

1,000,000 – 1,100,000 2 2 100%

1,100,001 – 1,200,000 5 1 20%

1,200,001 – 1,300,000 18 9 50%

1,300,001 – 1,400,000 48 25 52%

1,400,001 – 1,500,000 52 23 44%

1,500,001 – 1,600,000 48 23 48%

1,600,001 – 1,700,000 64 30 47%

1,700,001 – 1,800,000 42 12 29%

1,800,001 – 1,900,000 34 15 44%

1,900,001 – 2,000,000 37 11 30%

2,000,001 – 2,250,000 57 20 35%

2,250,001 – 2,500,000 83 12 14%

2,500,001 – 2,750,000 49 17 35%

2,750,001 – 3,000,000 51 7 14%

3,000,001 + 78 13 17%

Totals 675 224 33%

LISTING AND SALES ACTIVITY BY PRICE SEGMENTSales-to-New-Listings Ratio


OCTOBER - TOWNHOUSESOCTOBER - TOWNHOUSESAPRIL - TOWNHOUSES





Edgemont 1 $2,016,700 1.12 4.24

Hamilton 3 $1,011,600 1.67 3.32

Indian River 1 $1,099,200 0.51 4.03

Lower Lonsdale 1 $1,205,200 2.78 3.2

Lynn Valley 0 $917,300 3.85 3.56

Lynnmour 6 $805,400 2.89 3.68

Norgate 0 $969,500 1.66 3.05

Northlands 1 $1,197,300 1.62 2.7

Roche Point 4 $983,600 0.79 3.39

Seymour 1 $1,043,500 3.57 4.68

Upper Lonsdale 5 $709,100 2.34 6.96

Westlynn 1 $850,900 2.1 5.21

Combined Total 28 $1,030,900 2.54 3.94


0 – 500,000 0 0 0

500,001 – 550,000 0 0 0

550,001– 600,000 1 2 200%

600,001 – 650,000 1 0 0%

650,001 – 700,000 1 1 100%

700,001 – 750,000 1 1 100%

750,001 – 800,000 0 0 0

800,001 – 850,000 2 1 50%

850,001 – 900,000 6 3 50%

900,001 – 950,000 2 2 100%

950,001 – 1,000,000 7 2 29%

1,000,001 – 1,050,000 3 1 33%

1,050,001 – 1,100,000 2 3 150%

1,100,001 – 1,200,000 14 5 36%

1,200,000 – 1,500,000 12 7 58%

1,500,001+ 3 0 0%

Totals 55 28 51%


FAITH’S KEY INSIGHTS:n The townhouse market in April was remarkably balanced between new

listing and sales, and geographically. With 55 new listings - highest in North Vancouver since last June – and 28 sales the market was leaning towards a seller’s advantage but still offered buyers an opportunity. The typical new listing sold within a median of 11 days. Townhouse sales were also fairly even across North Vancouver. There were sales in 11 of the 13 neighbourhoods we monitor, led by Lynnmour with 6 sales at a benchmark price of $805,400; and Upper Lonsdale with 5 sales at a benchmark of $709,100, the lowest in North Vancouver in April. The most expensive townhouse sale was in lovely Edgemont, where the benchmark price was $2.01 million, up 4.2% from three months earlier. In all, a steady townhouse market as North Vancouver came into the spring season.

n Where the balance slipped was in price. Within range of from $550,000 to more than $1.5 million, more than half of the 55 new listings were grouped at $1.1 million or more, 55% of which sold in April. The sales-to-new-listing ratio was 70% for the 12 townhouses listed at $1 million or less. Across North Vancouver, the median townhouse price is $1.03 million, up 2.5% from March and nearly 4% higher than in January. Owners planning to list their property should be certain their asking price reflects the current market values.

n Sellers will be facing more competition from new product this year because of a dramatic increase in multi-family construction in North Vancouver. Since January, there have been 530 strata starts in the City and 865 in the District, compared to a total of 61 in all of North Vancouver at the same last year. More are coming. Most of these are condo apartments but 14 new townhouse projects pre-selling right now. I suspect the marketing will become intense. If you own a townhouse and are considering a listing, it may be wise to come to the market early this spring

Areas

$1,100,000$1,050,000$1,000,000

$950,000

$900,000

$850,000

$800,000

Days

60

50

40

30

20

10

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Sales

Price



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$1,000,400

$1,049,000

$915,424

$865,000

$1,062,646

$1,005,000

$968,435

$911,000

$1,057,480

$1,031,000

$1,006,290

$1,010,000

17

8

29

13

41

12

21

12

17

10

16

9

January 12 24 100%February 36 20 -44.4%March 23 34 47.8%April 33 28 -15.2%May June Total 104 106 1.9%


THE REAL NORTH VAN RESULTS: APR 2018 THE REAL NEIGHBOURHOOD RESULTS: APR 2018


OCTOBER - TOWNHOUSESOCTOBER - TOWNHOUSES





Edgemont 1 $2,020,700 0.2 3.55

Hamilton 6 $1,020,700 0.9 2.66

Indian River 1 $1,107,600 0.77 3.09

Lower Lonsdale 2 $1,203,000 -0.18 2.24

Lynn Valley 3 $931,000 1.49 5.25

Lynnmour 3 $811,100 0.7 5.12

Norgate 0 $980,200 1.1 2.85

Northlands 1 $1,200,900 0.3 3.29

Roche Point 1 $1,015,100 3.19 6.94

Seymour 3 $1,042,600 -0.09 3.91

Upper Lonsdale 2 $695,600 -1.91 2.62

Westlynn 1 $854,500 0.42 5.65

Combined Total 31 $1,035,500 0.44 3.71


0 – 500,000 1 0 0%

500,001 – 550,000 1 2 200%

550,001– 600,000 1 1 100%

600,001 – 650,000 4 1 25%

650,001 – 700,000 1 0 0%

700,001 – 750,000 0 0 #DIV/0!

750,001 – 800,000 2 0 0%

800,001 – 850,000 7 5 71%

850,001 – 900,000 5 5 100%

900,001 – 950,000 4 2 50%

950,001 – 1,000,000 5 3 60%

1,000,001 – 1,050,000 4 3 75%

1,050,001 – 1,100,000 7 2 29%

1,100,001 – 1,200,000 10 2 20%

1,200,000 – 1,500,000 22 4 18%

1,500,001+ 1 1 100%

Totals 75 31 41%


FAITH’S KEY INSIGHTS:n We are finally seeing higher listings for townhouses in North Vancouver, with 75 added in May, the highest monthly level in more than a year. While sales are lower, down 24% in May from a year earlier to 31 units, the typical new listing sold within an average of 12 days in May and townhouse prices continued to increase. At $1.03 million, the townhouse benchmark in May was 3.7% higher than three months ago and 0.4% higher than in April. The sales-to-new-listing ratio was 41%, clearly leaning towards a buyer’s advantage.

n There was a disconnect between buyers and sellers in May, however.Many of the listings – 33 – were priced at $1.1 million or more, but sellers were most active at a price range of less than $900,000, which accounted for nearly half of the townhouse sales. At this price level, more than 60% of the listings sold. When listed at from $1.1 million to $1.5 million, the sales success ratio dropped below 20%. If you are townhouse seller, talk to an experienced real estate agency to make sure your price reflects true value in this changing market. Multiple bids and month-over-month price increases are rare, at least for a while. It may be time to rethink your listing strategy if you need to sell quickly.

n In the first five months of this year, 1,453 multi-family housing starts were registered in North Vancouver, up from just 203 at the same time last year. Many of the new projects are townhomes: in all 17 townhouse projects are now being marketed in the city and district. That is good news, but buyers are cautioned that new townhouses are carrying some extra development fees this year in the City of North Vancouver. Since January developers are paying an extra $190 per square foot for each new unit they build. Also, land prices are higher. That is part of the reason why most new townhouse asking prices are now more than $1,000 per square foot.

$1,100,000$1,050,000$1,000,000

$950,000

$900,000

$850,000

$800,000

Days

60

50

40

30

20

10

0


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Sales

Price



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Avera

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$915,424

$865,000

$1,062,646

$1,005,000

$968,435

$911,000

$1,006,290

$1,010,000

$984,206

$959,500

29

13

41

12

21

12

17

10

16

9

12

6

January 12 24 100%February 36 20 -44.4%March 23 34 47.8%April 33 31 -6.1%May 41 31 -24.4%June Total 145 140 -3.4%


MAY - TOWNHOUSES

THE REAL NEIGHBOURHOOD RESULTS: MAY 2018 THE REAL NEIGHBOURHOOD RESULTS: MAY 2018

$1,057,480

$1,031,000






Edgemont 0 $1,998,400 -1.1 0.2

Hamilton 5 $1,048,300 2.7 5.36

Indian River 0 $1,102,500 -0.46 0.81

Lower Lonsdale 3 $1,246,100 3.59 6.27

Lynn Valley 2 $912,700 -1.96 3.33

Lynnmour 6 $819,200 1 4.64

Norgate 0 $1,004,800 2.51 5.36

Northlands 2 $1,197,800 -0.26 1.67

Roche Point 3 $1,009,000 -0.59 3.4

Seymour 1 $1,034,800 -0.75 2.7

Upper Lonsdale 0 $696,400 0.11 0.5

Westlynn 0 $840,900 -1.59 0.9

Combined Total 31 $1,049,900 1.39 4.42


0 – 500,000 0 0 0%

500,001 – 550,000 1 0 0%

550,001– 600,000 0 3 0%

600,001 – 650,000 2 2 100%

650,001 – 700,000 2 0 0%

700,001 – 750,000 0 1 0%

750,001 – 800,000 4 1 25%

800,001 – 850,000 4 1 25%

850,001 – 900,000 4 2 50%

900,001 – 950,000 1 0 0%

950,001 – 1,000,000 11 7 64%

1,000,001 – 1,050,000 2 0 0%

1,050,001 – 1,100,000 2 2 100%

1,100,001 – 1,200,000 15 8 53%

1,200,000 – 1,500,000 19 4 21%

1,500,001+ 2 0 0%

Totals 69 31 45%


THE REAL NORTH VAN RESULTS: JUNE 2018 THE REAL NEIGHBOURHOOD RESULTS: JUNE 2018

FAITH’S KEY INSIGHTS:n Statistically North Vancouver’s townhouse market was not doing that

well in June, but when you get on the street and at open houses, the perception changes. In June, townhouse sales were down 31% from June of last year, but a closer look reveals plenty of reason to believe buyers are gaining traction as we head into the summer.For starters, the selection is finally increasing, with 61 townhouses listed in June. That is the second-highest number of new listings in a year, which should attract more buyers. Also, the benchmark price of a townhouse increased 1.3% in June from a month earlier, to just over $1 million; the typical new listing sold within a median of 11 days; and the sales-to-new-listing ratio was a nearly balanced 45%.

n Nine of the 13 North Vancouver neighbourhoods with townhouse projects posted sales in June. Central Lonsdale, with 6 of the 31 sales in the month, was among the market leaders and also had one of the highest price increases, with benchmark values ascending 3.3% from May to $1.19 million. Lynnmour also reported 6 townhouse sales, at a benchmark of $819,200, a price up 1% from May and 4.6% higher than three months earlier. This was the lowest price of any neighbourhood with townhouse sales in June. If you are a townhouse owner considering a sale, do not hesitate to list, especially if you own in Upper Lonsdale, Edgemont or Westlynn, all areas with a lack of listings.

n There is certainly a lot of confidence among North Vancouver developers. In the past six months, starts of multi-family units have increased five-fold from the same period last year, to 1,466 units. About 20% of these – or nearly 300 – are townhouses, with the majority in North Vancouver District. Clearly, the inventory is increasing which bodes well for future buyers. A caution here, however. Prices for new townhouses are significantly higher than resales due to the rising cost of land, fees and construction over the past year.

$1,150,000 $1,100,000$1,050,000$1,000,000

$950,000

$900,000

$850,000

Days

60

50

40

30

20

10

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Sales

Price



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$1,062,646

$1,005,000

$968,435

$911,000

$1,057,480

$1,031,000

$1,006,290

$1,010,000

$984,206

$959,500

$994,432

$992,000

41

12

21

12

17

10

16

9

12

6

15

11

Janaury 12 24 100%February 36 20 -44.4%March 23 35 52.2%April 33 31 -6.1%May 41 34 -17.1%June 45 31 -31.1%Total 190 178 -6.3%


JUNE - TOWNHOUSES


FAITH’S KEY INSIGHTS:n The typical new listing for a North Vancouver townhouse lasted a

median of only 7 days on the market before it sold in June, the fastest pace since Q2 of last year. There are other signals that, despite a 19% drop in sales year-over-year, the North Vancouver townhouse market remains very strong. There were multiple offers on some prime listings and the benchmark price for a townhouse increased 4.4% from Q1 and was 11.8% higher than in Q2 of 2017, at $1.04 million. Also, the sales-to-new-listing ratio was 49%, about as balanced as a market can get.

n Buyers were active right across North Vancouver. We had sales reported in all 13 neighbourhoods we monitor for townhouse sales and right through a wide price spectrum. In June, buyers were purchasing North Vancouver townhouses from $550,000 and less (2 sales) to $1.5 million or more (1 sale). Most of the action was concentrated in the $1.1 million to $1.5 million range, with 88 listings and 32 sales. Virtually all of the 14 North Vancouver townhouses listed at less than $750,000 sold in Q2, which is understandable.

n We fully expect North Vancouver townhouse sales to remain robust, even accelerate, as we head into the summer. For investors looking for the quickest return, the neighbourhoods seeing the strongest price increases now are Central Lonsdale, with benchmark prices up 6.1% from Q1 at $1.19 million; Lower Lonsdale, with townhouse prices up 6.2% from three months ago at $1.24 million; and Hamilton, where 14 buyers purchased a townhouse in Q2 at $1.04 million, a price 5.3% higher than in Q1 2018 and 16% higher than a year earlier, the biggest annual price increase in North Vancouver and second highest in all of Metro Vancouver. Hamilton, of course, is becoming popular with buyers because of the increased amenities and development along Marine Drive. An area for investors to watch is bustling and lush Lynnmour, where the benchmark townhouse price is $819,400 and prices are up 4.6% from Q1.

Q2 - TOWNHOUSES




Q1

Q2

Q3


201770

119

189

201875

96

171

Change (%)

7.1%

-19.3%

-9.5%

THE REAL NORTH VAN RESULTS: Q2 2018 THE REAL NEIGHBOURHOOD RESULTS: Q2 2018



0 – 500,000 1 0 0%

500,001 – 550,000 2 2 100%

550,001– 600,000 3 6 200%

600,001 – 650,000 6 3 50%

650,001 – 700,000 4 2 50%

700,001 – 750,000 1 2 200%

750,001 – 800,000 6 1 17%

800,001 – 850,000 13 8 62%

850,001 – 900,000 15 11 73%

900,001 – 950,000 7 4 57%

950,001 – 1,000,000 25 13 52%

1,000,001 – 1,050,000 7 4 57%

1,050,001 – 1,100,000 11 7 64%

1,100,001 – 1,200,000 38 16 42%

1,200,000 – 1,500,000 50 16 32%

1,500,001+ 5 1 20%

Totals 194 96 49%

SALES PRICE QUARTERLY TREND

Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018

$1,050,000

$1,000,000

$950,000 $900,000 $850,000$800,000$750,000

$1,004,802

$966,000

$1,017,148

$999,500

$976,504

$975,000

$1,028,629

$945,000

$994,640

$991,000

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Sales

Price

DAYS ON MARKET QUARTERLY TREND

Days

60

50

40

30

20

10

0



Edgemont 2 $1,998,400 0.2 9.95

Hamilton 14 $1,048,300 5.36 16.12

Indian River 3 $1,102,500 0.81 8.12

Lower Lonsdale 6 $1,246,100 6.27 15.6

Lynn Valley 5 $912,700 3.33 5.71

Lynnmour 16 $819,200 4.64 10.05

Norgate 1 $1,004,800 5.36 16.09

Northlands 4 $1,197,800 1.67 6.72

Roche Point 9 $1,009,000 3.4 9.94

Seymour 6 $1,034,800 2.7 7.17

Upper Lonsdale 7 $696,400 0.5 5.38

Westlynn 2 $840,900 0.9 4.9

Combined Total 96 $1,049,900 4.42 11.8911

7

18

9

20

8

26

10

14

7

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Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018



APRIL - APARTMENTS /CONDOS




Capilano NV 0 $1,274,300 0.96 12.73

Central Lonsdale 18 $632,300 2.93 9.67

Edgemont 0 $1,145,300 1.11 8.11

Hamilton 3 $654,900 0.95 9.75

Indian River 0 $757,100 1.73 6.91

Lower Lonsdale 31 $580,000 0.61 6.18

Lynn Valley 10 $670,000 3.02 6.69

Lynnmour 7 $647,100 2.79 7.39

Norgate 3 $700,500 1.1 9.4

Northlands 3 $860,100 1.16 6.88

Pemberton NV 9 $472,200 0.85 10.79

Roche Point 5 $609,300 3.46 6.29

Upper Lonsdale 4 $665,200 3.75 8.23

Combined Total 93 $611,900 1.76 7.88


0 – 250,000 0 0 0

200,001 – 250,000 0 0 0

275,001 – 300,000 0 0 0

300,001 – 325,000 0 0 0

325,001 – 350,000 1 0 0%

350,001 – 375,000 0 0 0

375,001 – 400,000 1 2 200%

400,001 – 425,000 2 1 50%

425,001 – 450,000 4 1 25%

450,001 – 500,000 13 9 69%

500,001 – 600,000 30 23 77%

600,001 – 700,000 33 24 73%

700,000 – 800,000 23 9 39%

800,001 – 900,000 23 13 57%

900,001 – 1,000,000 17 2 12%

1,000,001 + 26 9 35%

Totals 173 93 54%


FAITH’S KEY INSIGHTS:n New listings for North Vancouver condominium apartments increased in

April, reaching 173 homes, the highest monthly level in six months. Sales, though, were down 21.2% from April of last year to 93. The sales-to-new-listing ratio was fairly balanced at 54% and prices continued to ascend. The benchmark condominium price in April was $611,900, up 7.8% from the first of the year and 1.7% higher than in March. As well the typical North Vancouver new listing for a condo apartment sold within a median of just 8 days, indicating a very active spring market.

n North Vancouver will become quite busy this year with new condominium projects. Right now there are 26 condominium developments in pre-sale mode in North Vancouver, but a total of 1,395 new multi-family units have started construction since the first of the year, compared to just 61 in the same period last year. Most of the current condo projects are clustered in the central and Lower Lonsdale area and in the Maplewood and Lynn Valley neighbourhoods. If you are planning on buying a pre-sale condo, bring your trusted real estate agent with you. The agent can translate the pre-sales contracts, which are always carefully worded to favour the developer in regard to the completion date, the actual square footage and the degree of finishing. The agent can also compare pre-sale prices with existing condo apartments in the same neighbourhood to help buyers understand local market values.

n A word now to investors: the benchmark price of a North Vancouver condo has increased 23% over the past year and is currently rising at the same pace so far in 2018. The median, not benchmark, price was $51,000 higher in April than on January 1, as an example. As well, the rental vacancy rate remains in a very tight 1% range and condo rents are increasing. But I urge condo investors to shop carefully this spring. Look closely at older wood-frame resale units in close proximity to new condo developments. These can offer a lower price point, but also have the long-term potential for redevelopment due to zoning and strata windups.

$800,000$750,000$700,000$650,000$600,000$550,000$500,000

Sales-to-New- Listings Ratio

60

50

40

30

20

10

0


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19

10

23

15

26

10

20

9

14

8

12

8


– Me

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rice

– Av

erage

Sales

Price

$682,936

$649,900

$743,762

$630,000

$736,376

$670,000

$795,847

$710,000

$703,532

$645,000

$690,743

$638,000


January 76 79 3.9%February 103 98 -4.9%March 110 103 -6.4%April 118 93 -21.2%May June Total 407 373 -8.4%


THE REAL NORTH VAN RESULTS: APR 2018 THE REAL NEIGHBOURHOOD RESULTS: APR 2018


January 76 79 3.9%February 103 98 -4.9%March 110 103 -6.4%April 118 105 -11.0%May 136 86 -36.8%June Total 543 471 -13.3%





Capilano NV 0 $1,251,000 -1.82 3.09

Central Lonsdale 21 $603,400 -4.57 4.39

Edgemont 1 $1,162,600 1.51 7.03

Hamilton 6 $644,500 -1.59 1.68

Indian River 0 $724,700 -4.28 4.03

Lower Lonsdale 27 $579,000 -0.16 3.48

Lynn Valley 8 $676,800 1.02 4.27

Lynnmour 1 $658,200 1.72 5.35

Norgate 2 $699,400 -0.15 3.26

Northlands 3 $840,300 -2.3 4.89

Pemberton NV 5 $469,000 -0.68 3.81

Roche Point 6 $590,200 -3.13 4.09

Upper Lonsdale 4 $671,300 0.92 5.97

Combined Total 86 $603,600 -1.36 3.93


0 – 250,000 0 0 0

200,001 – 250,000 0 0 0

275,001 – 300,000 0 0 0

300,001 – 325,000 0 0 0

325,001 – 350,000 0 0 0

350,001 – 375,000 0 0 0

375,001 – 400,000 3 0 0%

400,001 – 425,000 0 1 0

425,001 – 450,000 6 3 50%

450,001 – 500,000 16 8 50%

500,001 – 600,000 38 13 34%

600,001 – 700,000 38 24 63%

700,000 – 800,000 32 9 28%

800,001 – 900,000 15 12 80%

900,001 – 1,000,000 12 8 67%

1,000,001 + 27 8 30%

Totals 187 86 46%


FAITH’S KEY INSIGHTS:n North Vancouver’s condominium apartment market shrunk in May, both

in sales performance and geographically. There were 86 condo sales in the month, down from 136 sales in the same month last year, and more than half the sales took place in just two neighbourhoods: Central Lonsdale and Lower Lonsdale. In Central Lonsdale, 21 condo apartments sold at a benchmark price of $603,000, while 27 buyers paid a benchmark price of $579,000 in Lower Lonsdale. Across North Vancouver, the benchmark condo price in the month was $603,500, down 1.3% from a month earlier and nearly 4% lower than three months earlier.

n Sales have been tracking lower this year, with North Vancouver condo sales down 13% in the first five months, compared to the same period last year. It is easy to understand why: the mortgage stress test in January, the provincial budget in February and modest mortgage rate increases in March and April. There are also new regulations on rentals, which may have discouraged some condo investors. Government intrusions have been so fast and furious this year that, I believe, some investors have voluntarily sidelined themselves as they wait to see what else is going to happen.

n For those who are not investors and simply seeking an affordable North Vancouver condo, this could be a good time to be looking. For the first time in a long time there is less buyer competition and huge variety of condos to choose from. In May, for instance, a dozen buyers purchased a North Vancouver condo for less than $500,000 and there were 9 condos listed at $450,000 or less. Still, higher-priced condos proved more popular, with 80% of the 15 listed from $800,000 to $900,000 selling. In May, the sales-to-new-listing ratio was 46%, which is fairly balanced and the typical new listing for a condo sold within a median of just 9 days. Also, starts of new condominiums this year are six times higher than they were at this time in 2017. In all, there are solid signs that pent-up demand will lift North Vancouver condo sales and probably quicker than most believe.

$850,000$800,000$750,000$700,000$650,000$600,000$550,000


60

50

40

30

20

10

0


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23

15

26

10

20

9

14

8

12

8

14

9


– Me

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rice

– Av

erage

Sales

Price

$743,762

$630,000

$736,367

$670,000

$796,723

$702,500

$703,532

$645,000

$690,743

$638,000

$729,581

$676,500


MAY - APARTMENTS /CONDOS

THE REAL NEIGHBOURHOOD RESULTS: MAY 2018 THE REAL NEIGHBOURHOOD RESULTS: MAY 2018


THE REAL NEIGHBOURHOOD RESULTS: JUNE 2018




Capilano NV 1 $1,251,900 0.07 -0.81

Central Lonsdale 13 $611,500 1.34 -0.45

Edgemont 0 $1,088,800 -6.35 -3.89

Hamilton 3 $646,900 0.37 -0.29

Indian River 0 $725,000 0.05 -2.58

Lower Lonsdale 24 $573,900 -0.89 -0.45

Lynn Valley 6 $682,500 0.84 4.95

Lynnmour 1 $662,300 0.62 5.21

Norgate 4 $692,600 -0.98 -0.04

Northlands 4 $824,500 -1.89 -3.03

Pemberton NV 1 $462,200 -1.45 -1.29

Roche Point 3 $591,300 0.17 0.39

Upper Lonsdale 1 $675,900 0.68 5.42

Combined Total 61 $602,800 -0.12 0.25


0 – 250,000 0 0 0%

200,001 – 250,000 0 0 0%

275,001 – 300,000 0 0 0%

300,001 – 325,000 0 0 0%

325,001 – 350,000 2 0 0%

350,001 – 375,000 0 0 0%

375,001 – 400,000 1 1 100%

400,001 – 425,000 1 1 100%

425,001 – 450,000 0 1 0%

450,001 – 500,000 5 4 80%

500,001 – 600,000 28 14 50%

600,001 – 700,000 29 12 41%

700,000 – 800,000 30 11 37%

800,001 – 900,000 14 4 29%

900,001 – 1,000,000 13 4 31%

1,000,001 + 20 9 45%

Totals 143 61 43%


THE REAL NORTH VAN RESULTS: JUNE 2018

FAITH’S KEY INSIGHTS:n The robust North Vancouver condo apartment market cooled down in June,

but there were at least two sales on average every day and the benchmark price remained constant at $602,800, a price that has barely budged (up 0.25%) since March. With 243 new listings added in the month, the sales-to-new-listing ratio was 43%, which is leaning slightly towards a buyer’s advantage. There are rumblings of higher mortgage rates – we expect a 0.25 per cent increase in the Bank of Canada lending rate in July – which may deter some buyers. Faith Wilson Group has a full-time mortgage professional as part of our team who can explain how mortgage rates, the stress test and the size of the down payment can affect your condo buying decision.

n Twenty-one of the 61 condos sold in June across North Vancouver were bought for $600,000 or less and 7 buyers paid $500,000 or less. Still, 9 buyers paid $1 million or more for a condo in June and 13 paid more than $900,000. I see this as evidence of continued broad-based demand and a signal that sales will likely improve should the selection increase.

n The inventory of new condos is certainly increasing. There are now at least 12 new condominium projects pre-selling in North Vancouver and total multi-family starts topped 1,400 units in the first six months of this year, up from 219 in the first half of 2017. This means a lot of pre-sales will be hitting the market over the summer and I advise potential buyers to bring a trusted real estate agent with them to the new condo showrooms. Such an agent can decipher the pre-sale contracts, especially as it relates to the actual size of the unit, the level of finishing and amenities, the timing of completion, and the potential for rental income if you are an investor. An agent can also compare the new condo prices with neighbouring resale condos. It can often be a good strategy to buy a resale condo in close proximity to new developments to benefit from the public amenities that are often required on new projects.

$800,000$750,000$700,000$650,000$600,000$550,000$500,000


60

50

40

30

20

10

0


– Me

dian D

ays o

n Mark

et –

Avera

ge Da

ys on

Mark

et


26

10

20

9

14

8

12

8

14

9

19

9


– Me

dian S

ales P

rice

– Av

erage

Sales

Price

$736,376

$670,000

$795,847

$710,000

$703,532

$645,000

$690,743

$638,000

$729,581

$676,500

$751,567

$662,500


Janaury 76 79 3.9%February 103 99 -4.9%March 110 103 -6.4%April 118 105 -11.0%May 136 112 -17.6%June 111 61 -45.0%Total 654 559 -14.5%


JUNE - APARTMENTS /CONDOS


FAITH’S KEY INSIGHTS:n On an average day over the past three months, three condominium

apartments sold in North Vancouver at a benchmark price of $602,800 and the average new listing sold within a median of 8 days. Many of the buyers were seen in Lower Lonsdale, naturally, where 96 condos sold. Lower Lonsdale, with its selection of condos, ocean views, the Q public market, the SeaBus terminal and new art amenities, is becoming a magnet for buyers from across Metro Vancouver. With benchmark prices at $573,900, Lower Lonsdale also offered the second lowest condo price in North Vancouver in Q2, a price that is also $280,000 less than the condo benchmark across Greater Vancouver.

n The lowest priced condo apartments in Q2 in North Vancouver were in Pemberton, where 17 buyers paid a benchmark of $462,200. The most expensive condos were found in the Capilano neighbourhood, at $1.25 million. But buyers also discovered that North Vancouver condo prices are leveling nearly across the board. The overall condo benchmark price was up just 0.25% from Q1 and only two neighbourhoods posted increases from three months earlier. These were Lynnmour, with a 5.2% price rise to $662,300; and Lynn Valley, where the benchmark condo price is now $682,500, up 4.9% from Q1. That equates to an equity gain of around $34,000 in three months, which should get any investor interested.

n Condo buyers in Q2 purchased in 12 of the 13 North Vancouver neighbourhoods we monitor, an indication of broad and balanced demand. Another clue to this inclusive demand is that condos were selling in a wide price range, from less than $400,000 (4 sales) to more than $1 million, with 31 sales. The sweet price spot for both sellers and buyers was from $600,000 to $700,000, with 98 listings and 64 sales, a sales success ratio of 65%. There were also 62 sales at from $500,000 to $600,000, a sales ratio of 63%. The overall sales-to-listing ratio for the 504 listings in Q2 was 55%, an indication of a balanced market and a signal the condominium market is gaining strength as we head into the summer.

Q2 - APARTMENTS /CONDOS

THE REAL NEIGHBOURHOOD RESULTS: Q2 2018




Capilano NV 2 $1,251,900 -0.81 12.08

Central Lonsdale 56 $611,500 -0.45 19.47

Edgemont 1 $1,088,800 -3.89 10.23

Hamilton 13 $646,900 -0.29 13.37

Indian River 0 $725,000 -2.58 14.51

Lower Lonsdale 96 $573,900 -0.45 11.58

Lynn Valley 28 $682,500 4.95 15.13

Lynnmour 12 $662,300 5.21 17.79

Norgate 9 $692,600 -0.04 10.81

Northlands 12 $824,500 -3.03 14.22

Pemberton NV 17 $462,200 -1.29 11.05

Roche Point 18 $591,300 0.39 13.51

Upper Lonsdale 10 $675,900 5.42 16.87

Combined Totals 278 $602,800 0.25 14.14


0 – 250,000 0 0 0%

200,001 – 250,000 0 0 0%

275,001 – 300,000 0 0 0%

300,001 – 325,000 0 0 0%

325,001 – 350,000 3 0 0%

350,001 – 375,000 0 0 0%

375,001 – 400,000 5 4 80%

400,001 – 425,000 5 4 80%

425,001 – 450,000 9 6 67%

450,001 – 500,000 34 25 74%

500,001 – 600,000 99 62 63%

600,001 – 700,000 98 64 65%

700,000 – 800,000 85 33 39%

800,001 – 900,000 53 34 64%

900,001 – 1,000,000 41 15 37%

1,000,001 + 72 31 43%

Totals 504 278 55%


THE REAL NORTH VAN RESULTS: Q2 2018

SALES PRICE QUARTERLY TREND$800,000 $750,000 $700,000 $650,000 $600,000$550,000$500,000

$694,728

$615,100

$686,447

$649,000

$714,951

$650,000

$745,326

$668,500

$719,736

$660,000

Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 – Me

dian S

ales P

rice

– Av

erage

Sales

Price

DAYS ON MARKET QUARTERLY TREND60

50

40

30

20

10

0

13

8

15

8

19

9

19

8

15

8

Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 – Me

dian D

ays o

n Mark

et –

Avera

ge Da

ys on

Mark

et

Days



Q1

Q2

Q3


2017286

365

651

2018280

278

558

Change (%)

-2.1%

-23.8%

-14.3%

TO GET STARTEDFirst, visit FaithWilsonGroup.com for extensive details about: Vancouver area neighbourhoods from dog parks to home pricing by property type; our 360 degree Performance Promise; our exclusive monthly Market Update research publications; our awards & achievements and much, much more.Then, call me at 604-224-5277 or 1-855-760-6886, or email me at [email protected]

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IS COMMITTEDto you being totally informed such that you will make your buying decision with complete peace of mind! Witness our unique neighbourhood profiles at FaithWilsonGroup.com.

DELIVERSa proven track record of negotiation expertise and successful transactions, in a wide spectrum of property types across the Lower Mainland, along with a benchmark level of overall client satisfaction.

To find the best home for your needs at the price you deserve what you need is a Realtor® who:

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