Q3 [July-Sept] 2023
September saw a sharp increase in new listings in both North and West Vancouver - up from August 88.9 per cent and 66.7 per cent respectively.
This alleviated some of the pent-up demand that can build over the slower summer months, but also presented a perceived cooling trend, as quite suddenly there was an influx of choice for buyers. This coupled with expiring rate holds, rising fixed term rates, and concerns about upcoming variable rate announcements has resulted in an inconsistent market.
Moving forward, we would expect the pace of new listings to slow as we get further into the fall market, though we will likely see overall inventory levels rise as sales slow and the market adjusts to the current rate environment.
In North Vancouver there were 515 sales for the third quarter (Q3), up 20.9 per cent from Q3 2022, while new listings were up 11.7 per cent.
In September, total reported sales were up 32.8 per cent from September 2022, although were 14.1 per cent below the 10-year September average.
For all property types, the September 2023 sales-to-active listing ratio was 28.3 per cent (the second lowest absorption rate of the year)
By property type, the September ratios were: 20.2 per cent for detached houses, 35.4 per cent for townhomes, and 34.1 per cent for apartments.
By price range, the September ratios were:
| < $750,000: | 38.8 per cent |
| $750k to $1M: | 46.6 per cent |
| $1M - $1.5M: | 27.7 per cent |
| $1.5M - $2M: | 35.2 per cent |
| $2M - $2.5M: | 23.2 per cent |
| $2.5M - $3M: | 15.2 per cent |
| > $3M: | 7.9 per cent |
In West Vancouver there were 161 sales for the 3Q, up 14.2 per cent from third quarter, 2022, while new listings were up 18.4 per cent.
In September, total reported sales were up 28.6 per cent from September 2022, although were 17.6 per cent below the 10-year September average.
For all property types, the September 2023 sales-to-active listing ratio was 8.9 per cent.
By property type, the September ratios were: 6.7 per cent for detached houses, 21.4 per cent for townhomes, and 19.6 per cent for apartments.
By price range, the September ratios were:
| < $1M: | 47.6 per cent |
| $1M - $2M: | 16.4 per cent |
| $2M - $3M: | 11.2 per cent |
| $3M - $4M: | 4.8 per cent |
| $4M-$5M: | 6.6 per cent |
| $5M-$6M: | 8.2 per cent |
| >$6M | 1.6 per cent |
Sales.
Search North and West Vancouver September sales with access to all sold data (including listed and sale prices, days on market, and more):
North Vancouver Sales >> | West Vancouver Sales >>
As always, if you have any questions about the North Shore market, or if we can assist you with a purchase or sale we'd be pleased to hear from you. We can be reached at 604.983.2518, by completing the form on this page, or by appointment at our office 110 East 1st Street, North Vancouver.
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Past Listing & Sales STATS | September 2023
North Vancouver
| Sept - 23 | Sept - 22 | % Chg | |
| New Listings | 476 | 398 | + 19.6 |
| Total Listings | 601 | 692 | - 13.2 |
| Sales | 170 | 128 | + 32.8 |
| Sales/Listings Ratio | 28.3 | 18% | + 53.0 |
| SP/Original LP | 98.8% | 97.6% | + 1.2 |
| Days on Market | 8 | 11 | - 27.3 |
| Median Sale Price | |||
| Condo | $838,000 | $712,000 | + 17.7 |
| Townhome | $1,295,000 | $1,182,950 | + 9.5 |
| House | $2,007,500 | $1,849,500 | + 8.5 |
West Vancouver
| Sept - 23 | Sept - 22 | % Chg | |
| New Listings | 245 | 190 | + 28.9 |
| Total Listings | 608 | 613 | - 0.8 |
| Sales | 54 | 42 | + 28.6 |
| Sales/Listings Ratio | 8.9% | 6.9% | + 29.0 |
| SP/Original LP | 95.1% | 94.2% | + 2.6 |
| Days on Market | 16 | 37 | - 56.8 |
| Median Sale Price | |||
| Condo | --* | --* | n/a |
| Townhome | -- ** | -- ** | n/a |
| House | $3,000,000 | $2,695,000 | + 11.3 |
Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: Sept 2023: 18 - Sept 2022: 10] - [*West Van Townhome sales: Sept 2023: 3 - Sept 2022: 4]