We just set another price record and this was a big one: highest sale price ever in North Vancouver* at $10 million dollars! This is significantly higher than the next highest sale price. It took a while but we were able to get a buyer who recognized the value of the home and location AND was willing to pay for it. We have set a number of other price records in the past but this one sets an important new benchmark for the area.
It's great to see North Van, and especially the Cove (well technically it was Dollarton) reaching these levels given that East of Seymour luxury properties offer far more than some available in Vancouver and West Van (in my humble opinion).
The market continues to be crazy but we are still lagging a bit East of Seymour: while almost all homes are selling in Vancouver (over 80% of listings sold in the Main Street area last month for example), in our area, less than half of the listings are selling on a monthly basis (last month in the Cove, the listing to sale ratio was only 31%). Despite what these numbers suggest, the market is very busy and anything priced well is selling right away, often with multiple offers and over the asking price.
If you would like to discuss this market and how it may impact you, please stop by our office at #101-2221 Panorama (if no one is there, we are out with clients!) or call or email me.
*Based on Multiple Listing Service records for detached homes in North Vancouver