Ambleside real estate specialist Kevin Lynch
West Vancouver- The Ambleside real estate market shows that home sellers are finally adjusting to what the market has already done. Roughly 41% of the active listings for detached homes have now made at least one price adjustment to catch up to last years declining prices.
Posted by Kevin Lynch
February 23, 2009
www.realestatenewsvault.com
In some markets it takes a little longer for people to figure out their market pricing. West Vancouver in general is one of those areas. And Ambleside, with so many different types of houses is often at the tail end. In a real estate market that has such a high level of diversity in the types of homes available, it’s often much harder to gage where your property value is.
Ambleside home sales are starting to pick up too. There have been a total of five houses sold for the area through January and February. Four of the five registered in February, two of which were posted late this past week. Most of the Ambleside sales are from home sellers that have priced their homes reasonably well. All but one of the properties sold were sold within the first 45 days of their listing date. Only one of the listings reduced their price before selling and two of the properties actually sold inside of ten days.
The low sale price for houses this year was listed at $899,000 and sold for $800,000. The high was listed at $1,699,000 and sold for $1,643,000 for a full 98% of the asking price. The average sale came in with a listing price of $1,311,000 and sold for $1,184,200 and a list to sale price ratio of 89%. The average home also had 4 bedrooms, 3 bathrooms, 2,966 square feet and sold in roughly 52 days.
There were nine sales registered in Ambleside in the fourth quarter. Six of the nine reduced their prices and all but two of the sales came from homes that had previously been on the market at higher prices. The lowest priced sale for the period came in at $988,000 and sold for $935,000, the highest price was $1,699,000 and sold for $1,622,500. The average Ambleside sale for the quarter was listed at $1,367,000, sold for $1,222,000, had 4 bedrooms, 3 bathrooms, nearly 3,400 square feet and sold for 89% of the asking price in 59 days.
There are currently 55 Ambleside houses on the market for sale ranging in price from $849,500 to $5,280,000. There are eleven properties priced under $1m, thirty one priced between $1m and $2m, ten priced between $2m and $3m and the rest over $3m.
Ambleside condo market is showing less activity with 40 listings and only 3 sales this year. There were a total of 7 sales for the area posted last quarter of 2008.
If you have any questions about West Vancouver’s Ambleside homes for sale or real estate, please contact Kevin Lynch.
About Real Estate News Vault
Real Estate News Vault founder, Kevin Lynch, is a local real estate expert with nearly 20 years of sales and marketing in the local real estate industry. He is the developer real estate marketing system for home sellers like Real Estate 7.0 (www.realestate70.com)
Copyright protected. You may use this article in full without adjustments or changes of any kind including title, links, copy and disclaimers. Should you wish to re-write or adjust for your own purposes, you may do so only if you refer to Kevin Lynch and include a web site link to this page. Should media want to contact me for an interview or to discuss markets, you can reach me here.
This article is not intended to induce or cause breach of an existing agency relationship. The enclosed information while deemed to be correct, in not guaranteed.
Kevin Lynch
Sutton Group West Coast Realty
604.307.9448
www.realestatenewsvault.com
Photo:
http://www.prlog.org/
