Spotlight: Condo of the Week
A bit of a slow week for new listings across North Vancouver. A total of 58 new listings have come to market since Monday August 29th, however only 18 of those represent attached listings (apartments/townhouses/duplexes). Total inventory is currently at 120 listings, a far ways off a year ago when there were approximately 352 active apartment listings at the end of August 2015. Should buyers continue to enter the market as we head into Fall we could continue to see a squeeze on prices as demand outpaces supply.
The focus of our condo this week is a unit in Roche Point's Ravenwoods development. Offered at $465,000, this two bed and one bath unit is spread over 850 square feet and features an updated kitchen with stainless steel appliances and new kitchen cabinets and granite countertops, updated tile and flooring, and south facing exposure providing an abundance of light and views of the inlet and distant city. I'm a big fan of this area as both a medium-term investment (no rental restrictions/no pet restrictions) and as an affordable opportunity on the North Shore for first time buyers. What could otherwise be explained as an adults playground, you're a short drive away from hiking, water sports, two golf courses, mountain biking, and skiing/snowboarding at Seymour Mountain.
*Do note that this property is on prepaid lease-hold land, and while property transfer tax has not been historically applicable, the Tsleil-Waututh reserve lands do plan on introducing a tax in the near future.
Find more information on this listing at 309-3608 Deercrest Drive, Roche Point, North Vancouver.
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Listed by: Sotheby's International Realty Canada