The North Vancouver attached home sales volume has continued to show a high number of sales through the Fall of 2019. In 2018, we saw the worst numbers in MLS history in terms of sales. As a whole, North Vancouver saw 138 sales in the attached category in October of 2019 – a large bump when measured against the 2018 total of 98. The 138 Sales in October is well above the average of 111 sales.
Lower Lonsdale is the strongest market on the North Shore largely due to the convenience of the Seabus connection to downtown and the surrounding amenities. In regards to sales volume and holding price points, Lolo saw sales well above the average in October 2019. With prices dropping marginally over the past two years, buyers are seeing opportunities to own property in the ever-growing community. Lower Lonsdale saw sales more than double from October 2018 (20 sales) to October 2019 (48 sales). There are a high number of new listings in the Lower Lonsdale catchment ranging from one bedrooms at $349,900 to the penthouse unit at the Observatory listed at $5,500,000.
Central Lonsdale has seen a large boost in development over the past 5 years. Amenities include, but are not limited to: Whole Foods, Loblaws market, Steve Nash Fitness, and of course beautiful Victoria Park. Sales volumes in Central Lonsdale have been very consistent over the past few years. This is partly due to more home ownership opportunities via new developments by Onni and other award winning developers. In October, Central Lonsdale saw sales of 19 (2018) and 25 (2019) compared to a yearly average of 20. There are listings available in different categories ranging from one bedroom suites at $319,950 to the Penthouse unit at Centreview listed at $3,250,900.
Upper Lonsdale sees less in terms of sales volume due to the relatively lower scale of condominium and townhome developments in the area. With most property zoned for single family dwellings. Upper Lonsdale multi-family residences are typically very sought after. In October 2019, UpLo saw 4 properties being sold compared to 0 in 2018, and the yearly average of 5. Recently completed ‘Queen’s Landing’ on Queens and Lonsdale offers 2 and 3 bedroom townhomes with spacious floorplans starting at $1,259,100 + GST.
What does it all mean?
With an influx of higher quality townhomes and condominiums hitting the market and sellers having a better understanding of their homes actual worth, more sales have resulted in October of 2019 in North Vancouver.
With prices more attainable than we have seen in years, and the low interest rates available, this is proving to be an advantageous time to purchase real estate in the Lonsdale Avenue corridor of North Vancouver.
October Attached Home Sales Volume (Since 1991)