68 - Friday. September 10. 1989 - North

Shore News

WV ae prices drop

From pase 58

suteest that this is the case.

It's true that bee ,
improved demand, the signiti-
cant price declines drat we saw
in 1998 hive been semmed
and peices seen) to have staly-

» However, fthe high
f supply persists then it
is unlikely that we will sce
i! teases in this market.

As mentioned above, there
has been continued right sup-
ply in the West Vancouver
partment marker for the past
year. Int © number of

¢ listings has been stuck
below 80 units for that entire
period whereas back in 1997
there were as 7 as F110
units on the marker.

Tight supply can have one
of wo effects. It can drive
prices up as buyers compete
for the scarce resource, Ot it
can depress sales as people
refuse to pay the higher prices.

r there were
stor West

cantly over the
Jane period. However, in July
and August we have scen a

+ drop in both sales
and average selling price.
Whether this is just che sum:
mer doldrums of a change in
trend should become dear
over the next couple of
months.

The situation for North
Van apartments is very much
the opposite spice the number
of active listitigs is extremely
high. In fact, tor the last three
months, the number of active
listings has been hovering near
the 334 level as compared to
the thiee year average of 261
units,

One would think chat this
night cause prices to go into a
tree fall but the data suggest

that this isnot the qatse as
average selling price has been

over the last diree
months. Perhaps what is hap
pening is that nuh stronger

nd is offetting the
increased supply or mavbe tt is
just a case of people buying,
more higher priced units over
that period.

Finally we Jook ar North
Van attached hones where the
number of active listings has

Vriining ata tir high
level tor the last vear, This,
however, does not scem to
have adversely impacted prices.
Demand has been strong and,
as aresult, there has been a
slight upward trend in average
selling price over the last vear
or so.

vent Appeibe is ant cean-
omist and real estate agent
mith R
Ee can be
or by e-mail via bis Web i
cme omes-vancourencomt>.

Active Listings
West Vancouver Detached

JOSEF

; FT ALL APARTMENTS ARE SMALL!
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ANNOUNCEMENT

SHIRLEY JOY

Macdonald Realty is proud ito announce the addition of
another experienced realtor to their growing sales staff.

» Returning to the industry, SHIRLEY JOY, a long-time

resident of the North Shore, has established over 20 years
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ae 5269-000 ‘oo
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THINKING OF SELLING? PLEASE GIVE ME A CALL...
306-7230