January 2025 brought further changes to the North Shore real estate market, with varying trends in North Vancouver and West Vancouver. While North Vancouver saw price growth across most property types, West Vancouver experienced a decline in both house and condo prices.
North Vancouver – Surge of New Listings And Strong Sales Ratios Across All Property Types in North Vancouver
Price Analysis:
House/Detached:
The benchmark price for detached homes in North Vancouver increased by 3.1% month-over-month, reaching $2,196,200. Compared to January 2024, the price rose by 1.7%. Despite this, North Vancouver remains above Metro Vancouver’s benchmark of $2,005,400.
Check out North Vancouver single-family homes priced under $2,200,000 here, or explore those listed above $2,200,000 here.
Townhouse/Attached:
Townhouse prices in North Vancouver saw a 4.4% month-over-month increase, bringing the benchmark price to $1,369,800. Year-over-year, townhouses appreciated by 3.5%, significantly above Metro Vancouver’s benchmark of $1,105,600.
Browse North Vancouver townhouses under $1,370,000 here, or view premium options above $1,370,000 here.
Condo/Apartment:
Condos in North Vancouver declined by 1.4% from December 2024, reaching $784,800. Year-over-year, prices dipped slightly by 0.5%, but they remain above Metro Vancouver’s benchmark of $748,100.
Find North Vancouver condos under $785,000 here, or browse those listed above $785,000 here for more options.
New Listings and Sales:
New listings in North Vancouver saw significant increases across all property types. Detached home listings in North Vancouver rose to 128 in January from 26 in December, marking a 32.8% year-over-year increase. Townhouse listings in North Vancouver also increased, climbing to 77 from 22, reflecting a 37.7% annual rise. Condo listings in North Vancouver saw the largest increase, reaching 217 from 53, with a 39.6% yearly gain.
Sales activity in North Vancouver remained strong. House sales declined slightly to 42 from 46 in December, with a 32.8% sales ratio, down 23.7% compared to January 2024. Townhouse sales totaled 24, decreasing from 32 the previous month, with a 31.2% sales ratio, reflecting a 12.0% decline year-over-year. Condo sales reached 82, up from 60 in December, with a 37.8% sales ratio, down 21.4% from last year.
Take a look at all the condos in North Vancouver with an open house coming up here.
West Vancouver – Increased in New Listings, Sales Ratios Indicate a Balanced Market for Houses, Seller’s Market for
Price Analysis:
House/Detached:
The benchmark price for houses in West Vancouver declined by 3.3% month-over-month, reaching $3,198,900. Year-over-year, the price increased by 2.4%, keeping it above Metro Vancouver’s benchmark of $2,005,400.
Explore West Vancouver homes under $3,200,000 here, or check out premium listings above $3,200,000 here.
Condo/Apartment:
Condo prices in West Vancouver declined by 3.0% from December, reaching $1,189,600. Year-over-year, they dropped 8.2%, but remain above Metro Vancouver’s benchmark of $748,100.
Explore West Vancouver condos priced under $1,190,000 here, or discover luxury options above $1,190,000 here.
New Listings and Sales:
New listings in West Vancouver saw varied changes. Detached home listings in West Vancouver remained steady at 128, the same as the previous year. Townhouse listings in West Vancouver surged to 23 from 3, reflecting a 60.9% annual increase. Condo listings in West Vancouver increased to 39 from 22, marking a 12.8% year-over-year rise.
Sales activity in West Vancouver was mixed. House sales decreased to 16 from 26 in December, with a 12.5% sales ratio, down 5.9% from January 2024. Townhouse sales remained steady at 3, with a 13.0% sales ratio, reflecting a 60.9% year-over-year decline. Condo sales held at 11, the same as in December, with a 28.2% sales ratio, up 59.8% from last year.
Take a look at all the condos in West Vancouver with an open house coming up here.
Metro Vancouver – Market Adjustments Continue as Sales Ratios Decline
Metro Vancouver’s real estate market continued adjusting in January, with sales activity slowing compared to the previous year. The overall sales ratios stood at 9.2% for detached homes, 18.5% for townhomes, and 16.5% for condos. North Vancouver and West Vancouver both outperformed Metro Vancouver’s averages, with North Vancouver condos having the strongest sales ratio.
While townhouses continued to see stronger price growth compared to detached homes and condos, the market remains sensitive to mortgage rate fluctuations and inventory changes. The increase in new listings may provide buyers with more opportunities in the coming months, but sales trends suggest that market demand remains tempered.
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