home
economics

FIGURES for the
month of November
from the Greater
Vancouver Real Estate
Board confirm some
interesting new trends
that appear to be devel-
oping in the North
Shore real estate mar-
kets.

In November the total
dollar sales of West
Vancouver detached resale

level, continuing the
improved volume of sales that
started in March of this year.
The more interesting de
opment was on the supply
side, where the number of

stings dropped to 383
units in November. As you
can see from the accompany-
ing graph, this represents the
fourth month in a row that
the number of listings has
dropped. If this trend is sus-
tained into the new year then
it should be a goud tinte for
selling a home in West
Vancouver.

The other inter
November statistic for West
Van detached homes was
average selling price which
came in at over $700,000 for
the second month in a row,
as compared te the historical
average of about $670,000. I
don’t think this necessarily
means that prices are rising,
although they are probably
firming up as a result of the
somewhat tighter supply situ-

Rather itis likeh an
indication that the sales of
higher priced houses are
finally beginning to pick up.

In North Vancouver, sales
of detached resale homes
have been relatively quiet tor
the last three months, after 4
strony spurt earlier this year.
Bat like West Van, the inter:
esting story is on the supply
side where the number af
active listings dropped again

in November to below the
300,000 mark.

As vou can see trom the
accompanying graph, active
listings have bees more or
fess falling since the spring
and area fir ery front the
S00. plus figures we saw in
the spring of 1998

Sometimes ht sap

will spur a market an as buy:

ers compete tora limited
number of homes. browe

@ece

Sook atthe North Van fwures
tor the Last three vears sug
gests that when the number
of listings fally below the 300
mark, sales alsey drop. ‘This
would be a resul: of buvers
just giving up beeatse of the
shortage of homes.
ertheless, as vou can

trom the graph, the sup-
ply situation can turn around
preity fase so perhaps we will

@eeaeoceaesce

Friday. December 10, 1999 - North Shore News — 71

inthe New Yeor, However, as
things stand now, itis a
tough market tor buyers but
a pretty goed one tor sellers.
Sales of North Van
attached resale Rhames reco
ered in Novembes, returning
to Septentber levels alter 4
very weak month of October.
On the supply side there were
104 units on the marker at
the end of November, down
cain the vear and

eeeeteoaeees eee

ing in West Van

down 6% trom last November

however with improved sales
and tewer units on the mar-
ket, it is naw a more bal-

ed situation. The average
selling pric vorth Van
attached homes has been

See November page 83

Sea of lights

aN

NEWS photo Cindy Gooumen

THE North Shorea has the best vantage pints as the annual parade of carol ships goes sailing by. Tonigitt, Des. 12, 13, 14, 15, 19, 20, 21 and
22 see them from Ambleside and Dundarave Parks in West Vancouver. Dec. 18, watch from Cates and Panorama Parks in North Van.

photos Paul MeGrath

cf

Feature Listing

AT A GLANCE ...

Ma weeenerereneessdenevareesoerecereses

ADDRESS: 5120 Mariner Close

POPC e Peer RE ee eee eee se Hee e Ee eee draeeeeee

LOT SIZE: 80' x 120°

eoons

INTERIOR SIZE: 3996 SQ. FT.

CON Dare rweecreseerrsenesslerenressoeseeees

NUMBER OF BEDROOMS: 3

NUMBER OF FLOORS: 2 + p:

ASKING PRICE: $1,250,000
OPEN HOUSE: By Appointment

LISTING AGENT: Elena M. Hall, 657-1701

wevereccesere

SPECIAL FEATURES: Tuscan villa with
ocean view!

5120 Mariner Close

one * : aa an oo haat
Villa Felicita!

iia Felicita!
Unique Tuscan styie residence with southwesterly exposure and
Ocean View! Its design and construction combines Olde Masters
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stained glass antique doors, marble mosaic acanthus feaf floor
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landing! The upstairs is an open
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Master suite w/fireplace and luxuricus
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for recreation, home business or Artist
Studio! Hand crafted wrought iron
balconies and faux painted walls add to
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discerning Buyer!

Eanes
Elena M. Hall
Westreal Realty tnc.-Butter
Homes & Gardens