+ Friday, August 13, 1999 - North Shore News _ NV home supply drops From page 4 resumes growing we will see Price increases in this market. Turning to North Vancouver, the accompanying graph shows toral monthiy sales of resale detached homes for the past three vears As you n + Sales dropped in July but this is most likely just normal month- ty variation. P think demand in this market is still strong and the only thing that might dampen sales would be a. shortage of homes En tact, on the upply a es the number of active cropped for the third consecu- y to a level of 351 units. This is really a tight level of supply for this market and, combined with the stronger aS & @ o TOTAL SALES ($M) demand, is going to result in Sc : sc year price increases. Indeed there : af about 100. Despite are indications that this is hap. this high level of supply, there pening as average selling price are some indications that prices has risen for the last four are recovering in this market as months. a result of the strang demand. As opposed to the situation Finally we carn to the mar- in West Van. this tight market ket for North Vancouver apart- scents to be spread pretty even- ments where July sales were up ly ever all tac areas of North 5% over June and 7% over last Van. However our previous July. This was a very depressed analysis suggests that there isa market last i ivision by price in North be recovering quite ncouver ia that the market Supply is still very high sol for homes over $500,000 don’t think we will see an appears to be much softer than in prices but ar least k y have been stabilized by stronger demand. — Tr ppelbe is an ccan- resale attached homes alsu tell omesst aud a veal escate agent in July bur are still 63% above with RE/MAX Crest’ Realty. the level of fast July. Phere are He cau be reached at 988-474 126 active listings of resale ar by e-mail via his Web site at attached homes on the market