Lynn Valley real estate market one of North Vancouver's best through December but January flops

PR Log (Press Release) – Jan 22, 2009 – Lynn Valley is looking pretty good compared to most other areas.  In December, it had 51 active listings, 8 sales, 17 price reductions and 17 expired listings (failed to sell).  It’s 15.6% sales to listing ratio is one of the highest I’ve seen.

The average price for Lynn Valley listings is at $965,000, the lowest priced home is $619,000 and the highest is $1,558,000.  There are 11 listings in the $600s, 7 in the $700s, 2 in the $800S, 7 in the $900s and 12 over $1 million.  

The average time on the market for active listings is 82 days.  The average home has 3 bedrooms, 2 bathrooms and has just over 3,000 square feet.

There were 17 homes that lowered their price.  The average price drop for these properties was roughly $76,000.

Lynn Valley had 8 December sales.  Their asking prices ranged from $499,000 to $759,000, their average asking price was $627,975, their average sale price was $586,500.  Five of the eight sales reduced their price and their original start price averaged $679,375.  

That means, on average the properties dropped by nearly $100,000.  Other points of note on these homes include their average bedrooms 4, average bathrooms 2.5, average house size 2,300 square feet and average lot frontage was 48 feet.

There are currently 42 listings for sale in Lynn Valley with 8 new listings coming to market within the past 21 days.  The average price for these new Lynn Valley listings is $1,112,000, average bedrooms is 5, average bathrooms is 4 and average house size is 3,600 square feet.  The lowest priced new listing is $949,888 while the high is $1,499,900.

There have been zero sales or expired listings for this period.  With a fairly strong sales month for December, January sales are a little surprising and we’ll have to keep watch for the remainder of the month.


About Kevin Lynch
Kevin Lynch is a local real estate expert with nearly 20 years of sales and marketing it the local real estate industry. He has sold hundreds of homes over the years, has received many industry awards for his sales achievements and lives to serve and help others. He is a ‘pay it forward’ advocate and continuously looks for new inspiring models for giving back.

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All statistics indicated, inferred and supplied herein are approximate and are for informational purposes only. This information does not replace a home estimate, property appraisals or other professional services. All parties are strongly advised to do their own research prior to making any real estate related decisions including (but not limited to) having multiple, comprehensive home and market estimates, surveys, inspections, appraisals and legal advice. Not intended to induce or cause breach of an existing relationship.

Kevin Lynch
Sutton Group West Coast Realty
604.307.9448
http://www.realestatenewsvault.com