May 2025
Inventory Climbs Again as Market Balances Unevenly Across the North Shore
The May North Shore real estate market continued to reflect a cautious and somewhat uneven environment.
In North Vancouver, sales activity remained subdued — down from last year and still trending well below the 10-year average — even as inventory reached its highest level since 2019.
West Vancouver saw a modest year-over-year increase in sales, but overall demand still lagged typical May levels.
Listing activity has remained steady, with total inventory continuing to build in both markets. This added supply is giving buyers more choice than they’ve had in recent years and has contributed to increasingly balanced conditions — in some cases favouring buyers, particularly in segments where demand is softer.
Detached homes have generally held up better than the condo and townhome markets, which are seeing more variability and longer days on market. That said, results remain highly property-specific. Well-priced, well-presented homes in desirable locations are still attracting attention and moving relatively quickly, while others are requiring price adjustments or an extended time to sell.
On the policy front, the federal government is now back in session and already delivering on housing-related campaign promises. A new GST rebate for first-time buyers of new homes could bring renewed interest to the presale market and help with affordability at the entry level — though the broader impact remains to be seen.
Financing conditions continue to present a mixed picture. Although the Bank of Canada is widely expected to hold its overnight rate steady in the short term, markets are still hoping for additional rate cuts later this year. At the same time, fixed mortgage rates have inched up slightly in recent weeks, adding some complexity for buyers navigating borrowing options.
As we head toward summer, we’d typically expect to see listing activity ease. So far, that seasonal shift hasn’t taken place. If inventory continues to build while buyer demand stays level, we may see increased pricing pressure in some segments.
North Shore Market Stats
In North Vancouver home sales declined 15.9% compared to May 2024 and were 25.9% below the 10-year average.
New listings were up 5.3% year-over-year, while total inventory rose 26.7%, ending the month with 1,035 homes for sale – 44.3% above the 10-year average.
For all property types, the May 2025 sales-to-active listing ratio was 19.9%.
By property type, the May ratios were: 21.0% for detached houses, 21.3% for townhomes, and 17.8% for apartments.
By price range, the May ratios were:
| < $750,000: | 19.0% |
| $750k to $1M: | 20.8% |
| $1M - $1.5M: | 18.1% |
| $1.5M - $2M: | 25.9% |
| $2M - $2.5M: | 18.5% |
| $2.5M - $3M: | 19.8% |
| > $3M: | 16.2% |
In West Vancouver, sales increased 6.3% compared to May 2024 and were 20.9% below the 10-year average.
New listings were down 12.5% year-over-year, while total inventory rose 5.5%, ending the month with 731 homes for sale – 15.8% above the 10-year average.
For all property types, the May 2025 sales-to-active listing ratio was 9.3%.
By property type, the May ratios were: 8.0% for detached houses, 18.8% for townhomes, and 11.1% for apartments.
By price range, the May ratios were:
| < $1M: | 15.2% |
| $1M - $2M: | 15.6% |
| $2M - $3M: | 14.4% |
| $3M - $4M: | 8.8% |
| $4M-$5M: | 4.9% |
| $5M-$6M: | 8.6% |
| >$6M | 1.5% |
Sales.
Search all North Shore sales as soon as they are reported sold, along with our entire database of sold real estate listings:
North Vancouver Sales >> | West Vancouver Sales >>
Thinking of a move this summer or fall? Our team would be pleased to meet with you to discuss the market and steps to prepare for buying or selling. We can be reached at 604.983.2518, via the form on this page, or at our office 110 East 1st Street, North Vancouver.
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May 2025 Listing & Sales Stats
North Vancouver
| May- 25 | May - 24 | % Chg | |
| New Listings | 561 | 533 | +5.3 |
| Total Listings | 1,035 | 817 | +26.7 |
| Sales | 206 | 245 | -15.9 |
| Sales/Listings | 19.9% | 30% | -33.7 |
| SP/Original LP | 98.0% | 99.2% | -1.2 |
| Days on Market | 10 | 8 | +25.0 |
| Median Sale Price | |||
| Condos | $802,500 | $809,000 | -0.8 |
| Townhomes | $1,290,000 | $1,340,000 | -3.7 |
| Houses | $2,150,000 | $2,392,500 | -10.1 |
West Vancouver
| May - 25 | May - 24 | % Chg | |
| New Listings | 225 | 257 | -12.5 |
| Total Listings | 731 | 693 | +5.5 |
| Sales | 68 | 64 | +6.3 |
| Sales/Listings | 9.3% | 9.2% | +1.1 |
| SP/Original LP | 94.0% | 96.3% | -2.4 |
| Days on Market | 23 | 17 | +35.3 |
| Median Sale Price | |||
| Condos | -- * | -- * | n/a |
| Townhomes | -- ** | $1,297,500 | n/a |
| Houses | $3,045,000 | $3,104,000 | -1.9 |
Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: May 2025: 14 - May 2024: 26] [**West Van townhome sales: May 2025: 6 - May 2024: 6]
Active Listing Stats
As of June 30, 2025 at 02:01 AM
North Vancouver
There are 1,106 homes for sale in North Vancouver including houses, condos, townhomes, duplex listings, and lot listings.
West Vancouver
There are 774 homes for sale in West Vancouver including houses, condos, townhomes, duplex listings, and lot listings.
Disclaimer: Historical sales, listings, and price data is from the Real Estate Board of Greater Vancouver as of the date published. Days on Market and Average Sale Prices are calculated as Medians. Note: Active Listing Statistics are based on data generated by the Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.