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Blog by Matt Cavelti | September 19th, 2016

West Vancouver detached homes new listings and sales

West Vancouver took a step back in pricing month to month from July to august in the single family detached home market. There were a number of factors that should not be overlooked that have been key contributors in the current market conditions on the North Shore. Not only did the average price of detached homes take a drop so to did the number of new listings and total number of sales. When taking a look at historical numbers August is traditionally a slow month, however the 15% foreign homebuyer tax certainly has injected some uncertainty into the market.  The West Vancouver luxury market has largely absorbed this uncertainty, which is a major contributor in the 19% decrease in Average sale price of Detached Homes seen from July to August. New listings dropped 24% from month to month to match the 25% drop in total number of sales. All of these statistics help paint a picture of the current West Vancouver market, early signs of the market strengthening have come thus far in September as to this day 96 new listings have come out, the same number as all of August.