To help you see what is happening the Vancouver, North Vancouver and West Vancouver markets for new construction I have inserted graphs below that show the average sale prices, number of sales, average days on market since 2014.
These are live, interactive graphs that will show the numbers when you hover hover each month.
The supply and total inventory graph shows that the amount of new homes on the market in Vancouver, West Vancouver and North Vancouver for new single family homes is nearly double where it was this time last year. It also clearly shows that there is a constant growth in the number of new homes on the market in North Vancouver which has the most new homes for sale at any given time over the past three years.
The average sales prices are very hard to read into with the low volume of total sales, as the fluctuation in average and even median sales prices can be very extreme based on the type, size, location, and view of the property.
This shows that the number of total sales each month related to the volume of listing on the market is very low. There is over 2 years of inventory in North Vancouver months of inventory, 15 months of inventory in Vancouver and roughly three years of inventory available in West Vancouver. In the new home sector, this proves the market is a very strong buyer market.
These sales don't account for which properties reduce the price by the total GST by having the seller pay all or a portion thereof. Another thing you can see is there is much less volatility in the North Vancouver new home market.