February 2025 continued the trend of shifting conditions in North Shore’s real estate market, with varied pricing movements and dynamic sales activity across North Vancouver and West Vancouver.
North Vancouver – Strong Sales Ratios Across All Property Types
Price Analysis:
House/Detached:
The benchmark price for detached homes in North Vancouver increased by 1.7% month-over-month, reaching $2,232,600. Compared to February 2024, the price rose by 2.2%. North Vancouver remains above Metro Vancouver’s benchmark of $2,006,100.
Browse North Vancouver detached homes under $2,235,000 here, or explore available options above $2,235,000.
Townhouse/Attached:
Townhouse prices in North Vancouver saw a 0.3% month-over-month decline, bringing the benchmark price to $1,366,100. Year-over-year, townhomes appreciated by 2.2%, remaining above Metro Vancouver’s benchmark of $1,087,100.
Explore North Vancouver townhomes listed below $1,370,000 here, or check out exclusive properties above $1,370,000.
Condo/Apartment:
Condos in North Vancouver increased by 2.5% from January, reaching $804,100. Year-over-year, prices dipped slightly by 0.8%, but they remain above Metro Vancouver’s benchmark of $747,500.
Search North Vancouver condos priced below $805,000 here, or view high-end listings above $805,000.
New Listings and Sales:
New listings in North Vancouver varied across property types. Detached home listings in North Vancouver declined to 108 in February, down from 128 in January, marking a 12.0% year-over-year increase. Townhouse listings in North Vancouver slightly decreased to 67 from 77, reflecting a 3.0% increase year-over-year. Condo listings in North Vancouver saw a slight decline, reaching 172 from 217, with a 2.9% decrease year-over-year.
Sales activity in North Vancouver remained strong. House sales increased to 48, up from 42 in January, with a 44.4% sales ratio, slightly up 0.5% compared to February 2024. Townhouse sales totalled 27, up from 24 the previous month, with a 40.3% sales ratio, reflecting a 9.7% decline year-over-year. Condo sales reached 78, down from 82 in January, with a 45.3% sales ratio, declining 10.8% from last year.
Take a look at all the condos in North Vancouver with an open house coming up here.
West Vancouver – Balanced Market for Houses, Seller’s Market for Townhouses
Price Analysis:
House/Detached:
The benchmark price for houses in West Vancouver declined by 2.2% month-over-month, reaching $3,127,700. Year-over-year, the price increased by 1.0%, keeping it above Metro Vancouver’s benchmark of $2,006,100.
Discover West Vancouver detached homes listed under $3,130,000 here, or explore upscale options above $3,130,000.
Condo/Apartment:
Condo prices in West Vancouver rose by 2.2% from January, reaching $1,215,800. Year-over-year, they dropped 11.3%, but remain above Metro Vancouver’s benchmark of $747,500.
Explore West Vancouver condos priced under $1,220,000 here, or discover luxury options above $1,220,000.
New Listings and Sales:
New listings in West Vancouver showed mixed results. Detached home listings in West Vancouver slightly decreased to 126 in February, down from 128 in January, but still showed a 11.9% year-over-year increase. Townhouse listings in West Vancouver declined to 17 from 23, reflecting a 52.9% increase year-over-year. Condo listings in West Vancouver saw a larger drop, reaching 29 from 39, marking a 55.2% decrease year-over-year.
Sales activity in West Vancouver showed varied trends. House sales increased to 28, up from 16 in January, with a 22.2% sales ratio, down 38.3% from February 2024. Townhouse sales totaled 4, up from 3 the previous month, with a 23.5% sales ratio, reflecting a 5.9% decline year-over-year. Condo sales dropped to 7, down from 11 in January, with a 24.1% sales ratio, declining 9.5% from last year.
Take a look at all the houses in West Vancouver with an open house coming up here.
Metro Vancouver – Market Balances as New Listings Moderate
Metro Vancouver’s real estate market continued adjusting in February, with overall conditions stabilizing. The sales-to-active listings ratio stood at 10.7% for detached homes, 18.5% for townhomes, and 16.8% for condos, keeping the market within balanced territory. North Vancouver and West Vancouver both outperformed Metro Vancouver’s averages, with North Vancouver condos having the strongest sales ratio.
After an influx of new listings in January, February saw a steadier increase, contributing to overall market stability and preventing significant price fluctuations. Although sales declined compared to February 2024, the market continues to hold balanced conditions.
With spring approaching and discussions of potential interest rate cuts ongoing, buyer engagement and seller decisions will shape the market’s direction. The interaction between inventory levels and demand will play a crucial role in determining future price trends.
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