Late Fall Start in Upper Lonsdale

Since the Government has stepped in with their intention to slow the market last year, the sales have slowed and prices have dipped.  The market was at the start of a downward cycle when the Government stepped in and their efforts sped the correction and the slow down.  

The higher end priced areas in all markets were impacted the most. For Upper Lonsdale this first section is the most accurate information available and a real time overview of the market.

Active Listings

As of the time of writing this, there are a total of 38 properties for sale in the area is slightly over $2.2 million. This is the same average price range as the very peak of the market last year.  

September Sales

There were only two MLS sales posted in September while the month started with 24 homes on the mark and climbed to the current count of 38 listings.  There was one exclusive listing also sold on the 200 block of W 26th.  This property was listed in the low $1,400,00s and sold at $1,390,000 which is land value there [near the highway].  

October Sales
 The market is picking up already as there are 2 sales registered in the first five days.  Hopefully this is a sign of things to come.  

Industry Wide Sales

Industry trends see downward pressure on pricing when less than 20% of the active listings sell per month.  In Upper Lonsdale right now, we are far below that.  With 3 sales and 39 listings giving the area a 3.84% ratio.  This will correct, but it speaks clearly to sell before the prices see further correction. Don't fret though.  

Sales prices this year are averaging over $1,800,000 and are still over 2x higher than five years ago.  Essentially, we are at the second highest price market in Upper Lonsdale history.  

It's a great time for those looking to cash out, invest, downsize or even spring board to a newer or larger dream home off the equity they have built.  If you have more specific or detailed questions about the local market, North Vancouver in general or beyond, I'm here to help.Kevin Lynch