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North Shore Real Estate Shifts: Market Update April 2024

Under Vancouver Real Estate Stats


April 2024 North Shore Market Report cover

Written by on May 6th, 2024

As we step into the heart of spring, North Shore’s Real Estate Market, comprising North Vancouver and West Vancouver, also witnessed the highest number of new listings since summer of 2020.

Let’s delve into the key statistics and insights from both areas.

North Vancouver - April 2024 Market report highlights

North Vancouver – High Sales Ratio and modest increase prices!

Price Analysis:

House/Detached:

The benchmark price for houses in North Vancouver experienced a modest increase of 0.8% compared to the previous month, reaching $2,279,000. Year-over-year, house prices showed a more subdued growth of 3.5%, reflecting a steady market in this segment.

You can browse North Vancouver houses under $2,279,000 or priced over $2,279,000 here.

Townhouse/Attached:

Townhouse prices saw a slightly higher increase of 1.1%, with the benchmark price reaching $1,389,400. Over the past year, townhouse prices demonstrated stronger growth at 6.1%, indicating robust demand in this category.

Check out North Vancouver townhomes under $1,389,400 here, or priced over $1,389,400 here.

Condo/Apartments:

Condominium prices, however, experienced a slight decline of -0.9% in April, with the benchmark price resting at $822,600. Despite this, the year-over-year growth stood at a respectable 2.7%

Find North Vancouver condos for under $822,600 in North Vancouver here and over $822,600 here.

New Listings and Sales:

North Vancouver observed a significant surge in new listings across all property types compared to April last year. New house listings in North Vancouver surged in April 2024, reaching 231, indicating a significant year-over-year increase of 45.9%. Similarly, townhouse listings in North Van also saw a notable increase, with 115 new listings in April 2024, representing a 53.9% rise compared to April 2023. Condo listings continued to show strength, with 254 new listings in April 2024, marking a 40.6% increase year over year.

Despite the increase in new listings, sales activity in North Vancouver remained resilient. House sales increased from the previous month, with a sales ratio of 32.9%, albeit with a relative change of -47.3% compared to April last year. Townhouse and condo sales also displayed positive growth, with sales ratios of 47.8% and 46.1%, respectively, though both segments experienced relative declines compared to the same month last year.

West Vancouver - April 2024 Market report highlights

West Vancouver – Healthy Sales Ratio with mild increase in prices!

Price Analysis:

House/Detached:

West Vancouver witnessed a notable increase of 4.5% in house prices, with the benchmark price reaching $3,320,300. Over the past year, house prices in West Vancouver surged by 7.8%, highlighting the strong demand in this segment.

You can find West Vancouver houses under $3,320,300 here or priced over $3,180,000 here.

Condo/Apartments:

Condominium prices, however, experienced a decrease of -2.1% in April, with the benchmark price resting at $1,300,600. Despite this, the year-over-year growth stood at a respectable 3.2%.

You can look for West Vancouver condos under $1,300,600 here, and priced over $1,300,600 here.

New Listings and Sales:

West Vancouver saw an increase in new listings across all property types compared to April last year.  New house listings in West Van surged in April 2024, with 214 new listings, marking a 38.3% increase year over year. Townhouse listings remained relatively stable, with 15 new listings in April 2024, representing a 13.3% rise compared to April 2023. Condo listings continued to show strength, with 58 new listings in April 2024, marking a 36.2% increase year over year.

Sales activity in West Vancouver presented a mixed picture. House sales in West Vancouver remained relatively stable, with a sales ratio of 20.6% in April 2024, despite a significant relative decrease of 41.0% compared to April 2023. Townhouse sales remained limited, with a sales ratio of 6.7% in April 2024, showing a relative decrease of 71.1% compared to April 2023. Condo sales showed resilience, with a sales ratio of 41.4% in April 2024, though experiencing a relative decrease of 19.4% compared to April 2023.

Conclusion

In conclusion, the North Shore real estate market in April 2024 exhibited diverse trends across different property types and neighborhoods. Both North Vancouver and West Vancouver saw varied price movements, robust new listings, and mixed sales activity, indicating a dynamic and evolving market landscape. As we move forward, it’s essential to monitor these trends closely to make informed decisions in the ever-changing North Shore real estate market.

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