If you are planning to buy a new home in West Vancouver, you should be familiar with the real estate market there. This highly exclusive real estate market is known for its breathtaking scenery and safe neighborhoods. The vast majority of West Vancouver homes are located in picturesque settings and offer mesmerizing views of the ocean. Buying a waterfront residence in West Vancouver is a dream come true! Read on to discover more about the market and the different types of properties for sale.
Sotheby’s International Realty network
Sotheby’s International Realty Canada is the leading real estate sales organization in Canada. As the world’s largest real estate network, Sotheby’s combines global exposure with local market knowledge and specialized marketing solutions to provide a comprehensive range of services. With 550 offices worldwide and an extensive network of real estate professionals, Sotheby’s is able to offer clients comprehensive real estate portfolio management and marketing expertise.
The average sales price in West Vancouver increased by eight per cent from five months ago. The average price per square foot for homes in West Vancouver is now $560,000, up from $505,000 just six months ago. The average time on market for properties is five days, and buyers can expect to pay 103% of the seller’s asking price. Despite the rising prices, West Vancouver real estate continues to be a hot market.
When you’re looking for a luxury home in West Vancouver, Sotheby’s International Realty has the premier listings. With over 321 luxury properties for sale across British Columbia, you’re sure to find the perfect property. Choose from luxury retreats, beachfront estates, and more. You’ll find detailed descriptions, photos, and amenities to make your search easy. And you’ll get to choose the floorplan that works best for you.
Park Royal Shopping Centre
Located on Marine Drive and Taylor Way in West Vancouver, Canada, the Park Royal Shopping Centre is an indoor/outdoor mall with more than 200 stores. The mall opened in 1950, and has since undergone numerous redevelopment projects. A new permit was recently approved by the West Vancouver district to remove the fabric canopies from the storefronts and reface the buildings. A self-guided walking tour of the Park Royal is also available. Visitors will be able to view the collection of original Canadian and West Coast art.
The Park Royal Shopping Centre in West Vancouver has several restaurants and retail stores, and is open from 10am until 7pm on Sundays. There is also an indoor food court, and several popular restaurants. For a meal, stop by the Park Royal Mall’s restaurants, including the Village Tap House, Cactus Club, and Keg Steakhouse. The complex also has a Tesla car dealership. Guests can dine at various restaurants, including the popular White Spot and Milestones.
Park Royal was Canada’s first regional-class shopping centre, opening in September 1950. It initially contained 24 stores spread across 130,000 leasable square feet. A two-level F.W. Woolworth was the only two-level store. Today, the Park Royal Shopping Centre has over 280 stores. The Centre is a convenient stop on the way to Whistler. This article will explore Park Royal’s first 30 years of growth and development.
Average home listing price
According to MLS(r) statistics, the average home listing price in West Vancouver, BC is $485,000. While this price is still lower than the national average, it is more representative of the local market than the regional average. Listed home prices reflect the overall market and can fluctuate significantly. A buyer should pay attention to the local and regional market trends for the best view of the current market. In addition, it is important to note that a sub-market’s growth may not be sustainable.
A recent report from the Greater Vancouver real estate board shows that detached home sales in May were down by nearly twenty percent month-over-month and by nearly thirty percent from the same month last year. The median price for detached homes in West Vancouver, which is typically $3,490,600, is still four percent higher than the benchmark price in the city. The sales-to-listings ratio in West Vancouver for detached homes is currently at 16.3 percent, well below the 10-year average of 17.2 percent.
Despite the lagging housing market in Metro Vancouver, the region continues to grow in price. In May 2022, there were 153 new listings, compared to 165 in the previous year. The median days on market for a property in West Vancouver is 24 days, which is higher than the average. But there is still plenty of room for buyers in West Vancouver. This market will continue to grow as the population and housing market improve.
Average sold price
The benchmark sold price of all residential properties in the region was $1.2 million last month. That’s up 18.5% from January and 2% from December. Board economist Keith Stewart says the tight market is caused by the lack of inventory. With low interest rates, people are taking advantage of the low prices to buy a new home. At the same time, the number of new listings on the MLS is only half of the ideal level at the beginning of the year.
There are 802 new listings for sale in West Vancouver this month, and the average listing price is $4,239,285. Compared to last month, 66 properties sold below and 86 went above list price. However, despite the slow market, prices haven’t dropped that much, and the number of new listings is still low, so there are still plenty of buyers on rate holds. In addition, there are still a number of buyers looking for a home in the area.
The housing market in Metro Vancouver remains significantly undersupplied, despite the low number of new listings. This situation has kept home prices high as a result of a shortage of inventory. Detached homes, townhomes, and apartments recorded the highest ratio of sales to active listings. Despite the tight supply, the average sold price of West Vancouver new listings was $1.5 million in May 2022. Those sales are up 12.6% from last month and are on pace to exceed the 10-year May average.
Several transportation options are available in West Vancouver, Canada. There are several modes of transportation in the downtown area, including skytrain, buses, and bicycles. West Vancouver is located near Vancouver International Airport, making it easy to travel to the city and its attractions by foot. It is also convenient to take public transit, with many bus routes connecting the downtown area with the North Shore. You can ride the bus to get around the city or catch a taxi if you are driving.
If you’re considering taking transit, Moovit can help you find your way around town. The app has a map of West Vancouver that will direct you to the nearest transit station. Moovit provides real-time bus and train times, as well as fare information and alternate routes. With more than 930 million users, Moovit has made getting around West Vancouver as easy as pie. It’s a great way to navigate any type of transit system, whether it’s the bus or train.
A study on the efficiency of commuter rail services in Vancouver revealed that residents of Vancouver save up to several weeks of their time by not commuting to work. According to the study, Vancouverites save an average of 12 hours and 20 minutes compared to driving to the downtown core. Among cities, Vancouver is second only to Toronto in terms of the amount of time they can save without commuting. Nonetheless, the time savings found by commuting by bike was significant enough to offset the cost of living in the Okanagan.
Among many other things, David A. Grantham is a contributing author to UmassExtension West Vancouver Blo. He is a renowned expert on real estate in BC.
Born in North Vancouver, Louisiana, Dr. Grantham grew up in Lower Lonsdale. He then went on to complete his business degree at the University British Columbia. As of this writing, Grantham has completed over 100 projects, including the development of a high rise building in Vancouver.
He is a husband, father, son, brother, and friend. He was a dedicated outdoorsman and enjoyed sports such as hunting, fishing, scuba diving, and snow skiing. His wife, Alison Grantham, and their two daughters survived him. He is survived by his wife Alison Martin Grantham and two daughters.