MARKET STATS Q1 [Jan-March] 2024

NORTH VANCOUVER
466 +5.2%

Total Sales vs Q1 2023

927 +11.3%

New Listings vs Q1 2023

500 +3.5%

Total Listings vs March 2023

WEST VANCOUVER
131 -2.2%

Total Sales vs Q1 2023

518 +21.3%

New Listings vs Q1 2023

539 +16.7%

Total Listings vs March 2023

Q1 [Jan-March] 2024

April 4, 2024

North Shore home sales were inconsistent through the first quarter (Q1), with a stronger year-over-year Jan+Feb and lagging March. Consequently, there were modest changes from 2023, with Q1 sales up 5.2 per cent in North Vancouver and down 2.2 per cent in West Vancouver.

It appears that sellers are becoming more active bringing greater balance to the market. This is typical for the spring, although it is also likely influenced by some trying to time anticipated Bank of Canada interest rate cuts. 

In North Vancouver there were 466 sales for the quarter and 927 new listings. 

For March, total reported sales were down 12.2 per cent from 2023, and were 34.3 per cent below the 10-year March average.

New listings were down 8.4 per cent from last March, while total listings were up a modest 3.5 per cent, ending the month at 500 homes for sale (16.6 per cent below the 10-year March average).

For all property types, the March 2024 sales-to-active listing ratio was 37.0 per cent.

By property type, the March ratios were: 29.3 per cent for detached houses, 39.7 per cent for townhomes, and 42.2 per cent for  apartments.

By price range, the March ratios were:

< $750,000:        53.7 per cent
$750k to $1M: 39.3 per cent
$1M - $1.5M: 41.9 per cent
$1.5M - $2M: 36.3 per cent
$2M - $2.5M: 50.0 per cent
$2.5M - $3M:   22.5 per cent
> $3M:  13.8 per cent

 

In West Vancouver there were 131 sales for the quarter and 518 new listings. 

For March, total reported sales were down 18.5 per cent from March 2023, and were 40.4 per cent below the 10-year March average.

New listings were up 17.9 per cent from last March, while total listings were up 16.7, ending the month at 539 homes for sale (just 1 per cent below the 10-year March average).

For all property types, the March sales-to-active listings ratio was 9.8 per cent.

By property type, the March 2024 sales-to-active listing ratios were: 9.2 per cent for  detached houses, 5.9 per cent for townhomes, and 13.9 per cent for apartments.

By price range, the March ratios were:

< $1M:          14.8 per cent
$1M - $2M:       11.5 per cent
$2M - $3M: 20.4 per cent
$3M - $4M: 6.5 per cent
$4M-$5M: 3.6 per cent
$5M-$6M:   6.8 per cent
>$6M 6.4 per cent

 

Sales. 

Search all Q1 North Shore sales along with our entire database of sold homes (with sales posted as soon as they are reported sold):

North Vancouver Sales >>    |    West Vancouver Sales >>

As always, if you have any questions about the North or West Vancouver real estate 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, via 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 | March 2024

North Vancouver 

  Mar - 24       Mar - 23    % Chg
New Listings 326 356 - 8.4
Total Listings 500 483 + 3.5
Sales 187 213 - 12.2
Sales/Listings Ratio   37.4 44% - 15.2
SP/Original LP 99.1% 99.0% + 0.1
Days on Market 8 8 --
Median Sale Price      
      Condo  $827,500 $800,000 + 3.4
      Townhome   $1,415,450 $1,387,500 + 2.0
      House   $2,353,500  $1,992,500  + 18.1

 


West Vancouver 

  Mar - 24        Mar - 23        % Chg
New Listings 184 156 + 17.9
Total Listings 539 462 + 16.7
Sales 53 65 - 18.5
Sales/Listings Ratio   9.8% 14.1% - 30.5
SP/Original LP 94.4% 95.5% - 1.2
Days on Market 19 22 - 13.6
Median Sale Price      
      Condo  --* $993,950 n/a
      Townhome   -- ** -- ** n/a
      House   $2,895,000    $2,780,000   + 4.1

 

Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: March 2024: 14 - March 2023: 22] - [**West Van Townhome sales: March 2024: 1 - March 2023: 1]  

 

Active Listing Stats

As of April 16, 2024 at 01:00 PM

North Vancouver

There are 634 homes for sale in North Vancouver including houses, condos, townhomes, duplex listings, and lot listings.

Houses
$2.58M

Median Asking Price

18

Avg Days on Market

Townhomes
$1.5M

Median Asking Price

13

Avg Days on Market

Condos
$899K

Median Asking Price

20

Avg Days on Market

West Vancouver

There are 595 homes for sale in West Vancouver including houses, condos, townhomes, duplex listings, and lot listings.

Houses
$4.5M

Median Asking Price

43

Avg Days on Market

Townhomes
$2.52M

Median Asking Price

43

Avg Days on Market

Condos
$1.58M

Median Asking Price

47

Avg Days on Market

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.