It has been a busy market so far this year in West Vancouver. Year to date gross sales $435,968,400),are up a whopping 64% from last year ($265,203,538)! Average price per unit is up 6% over last year and units sold this year is 165, up from last ytd of 107 units.
It would seem that West Vancouver is being noticed even more so than in past years. Remember, these figures are for the whole of West Van with some areas being affected more than others. Typically the Vancouver West market is the domino that gets everything going and then it makes its way over the water to West Van. However, this year the Vancouver West gross sales are actually down 8% ytd over last year. Average prices are also down, although only by 1%.
This could be a good indication of the market we may see next year. If West Van is being noticed as undervalued right now and a lot of Buyers are putting their money into it, we could see a peak this year and then perhaps a tapering off period next year.