North & West Vancouver Real Estate Market for July 2012
July is normally a slow month and the third quarter stats are normally pretty average predominantly because so many people are away for July and August. It will be interesting to see what September brings
In July in North Vancouver there were 41 sales. In 2011 for the month of July there were 93
In July in West Vancouver there were 37 sales. In 2011 for the month of July there were 97
Based on the above stats, slow does not even begin to describe the summer market of 2012. These figures are for single family homes only. Let’s take a look at the apartments, townhomes and duplex market
In July in North Vancouver there were 55 sales. In 2011 for the month of July there were 90
In July in West Vancouver there were 15 sales. In 2011 for the month of July there were 23
It is safe to say that the apartment market in West Vancouver has been slow for a long time. It’s not to say that apartments are not selling, but the strata’s in West Vancouver have really shot themselves in the foot with all their regulations against rentals and pets. Also the complete lack of interest in updating the common areas does little to encourage those empty nesters to relocate. Many of the lobbies date back to the 70’s and 80’s. In fact there are some buildings that have had major repair work done to their building envelope and then still have left the old carpeting and old furniture back in the lobby.
Seriously people, you want millions more than you paid, spend a dollar to improve the Aesthetics. In single family homes we talk about the curb appeal. We talk about your front door being the first impression. Your lobby and hallways are your curb appeal.
To mention just one more time the pet restrictions. Not all pet owners and bad people, not all pets are a nuisance. I totally understand putting restrictions with regards to the breed of dog or even the size of the dog, but many people only have their pet. It has been proven that people live longer with a companion.