I have drilled down on our REBGV stats for January to get a better feel for what is happening specifically in North Vancouver. To summarize, in January 2013 we had -
172 new detached (house) listings with 52 sales
53 new attached (townhouse/half duplex) listings with 16 sales, and
141 new apartment listings with 38 sales.
So while the inventory jumped up, the sales remained pretty flat compared to December. Interestingly prices held and in some cases, were actually up marginally. The bottom line however is that with a North Vancouver sales to total listings ratio of about 17% we are still a long way from the activity level last May, at the peak of the market, when the ratio was about 28%. The good news is that buyers are out there but if you want to sell, you have to be priced right. The first week of February is looking a little better with 109 new listings (of all types) with 42 sales which is at about 10% higher ratio sales to new listing than January. Let's hope this trend continues into the spring market.
If you would like any more specific information, please do not hesitate to ask.