66 - Friday, December 4, 1987 - North Shore News

Real Estate

x PE REE aN -
NEWS photo Cindy Sellamy

A FREIGHTER silently glides through Vancouver harbor during a calm autumn afternoon. The Vancouver skyline is silhouetted in the background,

Flat trend expected in condo market absorption

THE CONDOMINIUM
market completions
trendline 's up slightly ac-
cording to the Canada Mor-
tgage and Housing Corpora-
tion, but its trend has been
down since reaching 2 peak
in January. :

A flat trend is expected in
the next three months and a
strong upturn in the first
quarter of 1988. Comple-

tions are likely to average
400 units per month in the
next quarter and rise to 560
units per month in the fol-
lowing quarter.
Completioas during
September total 489 units,
up from August's 356 units
but down from July’s 582
units. The breakdown for
September is 312 units in
Vancouver, 84 units in Vic-
toria, 66 units in Matsqui, 21

units in Chilliwack and 6
units in Kelownia.

Demand is lower at 412
units compared to 449 units
in August. The absorption
trendline is down since May.

This is not expected to in-
crease for another couple of
months or so until the level
of completions picks up.

Inventory is higher in
September to 1,112 units
from 1,035 units.

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Providing the extra. effort.

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HANDY UPPER LONSDALE

Most of this increase is in
Victoria (70 to 143 units).
Vancouver’s inventory is
lower, to #63 units from 778
units in August.

Average condominium
prices at construction com-
pletion in Vancouver appear
to have held up in the second
quarter (latest available).
Apartment prices for one-
bedroom units were
$100,200, compared to

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$95,800 in the first quarter
of last year.

Two bedroom average
prices are up to $174,990
versus $136,700 in the first
quarter. This is largely due
to a larger proportion of
units in Vancouver City in
the second quarter (51 per
cent) than in the first quarter
(27 per cent).

Row condominium
average prices show a large

drop in three-bedroom units
but a change in the sample is
responsible. The first quarter
average of $172,100 drop-
ped to $108,200 in the se-
cond. .

A much larger ‘proportion
of units were in the subur-
ban muncipalities (82 per
cent) in the second quarter
than in the first quarter.
Also, the sample size was
smaller in the first quarter.

This immaculate 3 bedrom basement home will
impress you. Large sunny lot, lane access. Recent
roof, guters, entrance, windows, carpets. All this
on a quiet street. Steps to shops, bus, school. Calf

ve now 26,900

WORKS BEEN DONE
WESTLYNN TERRACE -
We love to sell real estate in Westlynn Terrace
— we think you'll enjoy this spotless 4 bedroom
home in this private location, Recent remodell-
‘ing, huge sundeck, ravine lot and easy walk to

French immersion. 144,900

Give us a call.

EASY WALK TO
SEABUS, QUAY

From this lower Lonsdale 1 bedroom
suite. Pleasant southerly exposure. Well
maintained building. Late possession if

desired.
$54,500 |

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beryoe

yu” 9 SEEINEC > mw Ee
ONE OF NORTH VAN’S FINEST
_ ASHBY HOUSE
For those wishing to maintain their quality of
lifestyle without the chores and responsibilities of
a large home —- Ashby House fs the answer.
Modern concrete building, secure, central location.
This 2 bedroom, 2 bathroom, corner suite has view
of oark. Easy access to lobby — immaculate
throughout. Time for a change? Call us for an

inspection. *129,500

VIET & PRIVATE — WESTLYNN TERRACE
2547 KILMARNOCK CRESCENT
This bright 4 bedroom home sits on a private ravine tot on a quiet cul-de-sac.
Offering a beautiful new kitchen, 3 baths, rec room, games rm., lots of storage
— recent carpets, roof, decks. Short safe walk to French immersion school,
Westlynn Centre, trans. Original owner hates to leave —
you'll see why on Sunday or give us a call. $154,500