MARKET STATS Q2 [April - June] 2021

NORTH VANCOUVER
1154 +146.6%

Total Sales vs Q2 2020

1716 +58.7%

New Listings vs Q2 2020

620 -28.2%

Total Listings vs June 2020

WEST VANCOUVER
288 +113.3%

Total Sales vs Q2 2020

747 +68.6%

New Listings vs Q2 2020

607 +0.3%

Total Listings vs June 2020

Q2 [April - June] 2021

July 6, 2021

North Shore listings and sales activity continued to far outpace last year’s pandemic reduced totals, while also easing back from the record setting spring market.  

For the Second Quarter [Q2], North and West Vancouver sales were up 146.6 per cent and 113.3 per cent respectively. This was led by triple digit increases in April and May, while June saw more modest increases of 34.5 per cent and 38.7 per cent respectively.

In North Vancouver, June reported sales were up 25.6 per cent above the 10-year June average, though were down from this year’s peak in April for the second consecutive month.

New listings were down 13.7 per cent from last June, while total listings were down 28.2 per cent from the same time, ending the month at 620 homes for sale (29.6 per cent below the 10-year June average).

For all homes, the June 2021 sales-to-active listing ratio was 51.6 per cent.

By property type, the June ratios were: 45.5 per cent for detached houses, 80.8 per cent for townhomes, and 50.6 per cent for  apartments.

By price range, the June ratios were:

< $750,000:        62.1 per cent
$750k to $1M: 63.1 per cent
$1M - $1.5M: 61.0 per cent
$1. 5M - $2M: 51.5 per cent
$2M - $2.5M: 44.3 per cent
$2.5M - $3M:   22.4 per cent
> $3M:  27.1 per cent

 

North Van Prices.

The MLS® Home Price Index (HPI) composite benchmark price of a house in North Vancouver was $1,914,100 (up 22.4 per cent from June 2020). The MLS® HPI price of a condo in North Vancouver was $657,500 (up 12.0 per cent from June 2020). The MLS® HPI price of a townhome in North Vancouver was $1,116,200 (up 12.8 per cent from June 2020).

 

In West Vancouver, June reported sales matched the 10-year June average of 86 home sold, though were down from this year’s peak in March for the third consecutive month.

New listings were down 6.0 per cent from last June, while total listings were up 0.3 percent from the same time, ending the month at 607 homes for sale (13.8 per cent below the 10-year June average).

For all homes, the June sales-to-active listings ratio was 14.2 per cent.

By property type, the June 2021 sales-to-active listing ratios were: 12.5 per cent for  detached houses, 18.5 per cent for townhomes, and 22.6 per cent for apartments.

By price range, the June ratios were:

< $1M:          38.2 per cent
$$1M - $2M:       22.6 per cent
$2M - $3M: 17.9 per cent
$3M - $4M: 17.2 per cent
$4M-$5M: 6.4 per cent
$5M-$6M:   4.8 per cent
>$6M 5.3 per cent

 

West Van Prices.

The MLS® Home Price Index (HPI) composite benchmark price of a house in West Vancouver was $3,152,500 (up 21.5 per cent from June 2020). The MLS® HPI price of a condo in West Vancouver was $1,135,400 (up 15.6 per cent from June 2020).

 

The Market.

As we head into the summer market, we continue to see greater balance with a steady level of listings and fewer buyers actively looking/offering. No doubt this is in part seasonal, as more buyers/sellers, as well as agents, are getting away with the better weather and removed travel restrictions. 

Seasonal factors aside, over the last few months there has been a noticeable shift in buyer enthusiasm. Our sense is that higher prices, the tougher mortgage qualifications requirements, marginally higher interest rates, and increased inventories are impacting buyer confidence. With this, we are seeing inconsistencies in sales, as some properties are well received by buyers and others aren't getting the same interest we experienced earlier in the year. 

That said, the market continues to favour sellers, as overall interest rates remain near historical lows and the economy and job market are both improving. The shift mentioned above is much more representative of a move towards a typical Vancouver market, and as of yet, has had little impact on pricing. 

As always, if you have questions about the North Shore market stats, have interest in learning the value of your home, or are considering a move, we'd love to hear from you. We can be reached at 604.983.2518 or by completing the form on this page.

 


Sold. Search all the North and West Vancouver sales that made up the stats in this report with access to all sold data (including listed and sale prices, days on market, and more). Get started at the links below:

North Vancouver Sales >>    |    West Vancouver Sales >>

 


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Past Listing & Sales STATS | June2021

North Vancouver 

  June -  21        June - 20     % Chg
New Listings 454 526 - 13.7
Total Listings 620 863 - 28.2
Sales 320 238 + 34.5
Sales/Listings Ratio   51.6% 27.6% + 87.0
SP/Original LP 100.0% 98.3% + 1.7
Days on Market 8 9 - 11.1
Median Sale Price      
      Condo  $681,500 $620,000 + 9.9
      Townhome   $1,200,000 $1,015,000 + 18.2
      House   $1,925,000     $1,706,750   + 12.8

 


West Vancouver 

  June - 21        June - 20        % Chg
New Listings 205 218 - 6.0
Total Listings 607 605 + 0.3
Sales 86 62 + 38.7
Sales/Listings Ratio   14.2% 10.2% + 39.23
SP/Original LP 96.5% 92.4% + 4.4
Days on Market 11 33 - 66.7
Median Sale Price      
      Condo  --** -- --
      Townhome   -- ** -- --
      House   $3,162,500     $2,371,4280    + 45.7

 

**Note: Median sale prices not reported when there are less than 20 sales [West Van condo sales: June 2021: 19 - June 2020: 17] -- [West Van Townhome sales: June 2021: 5 - June 2020: 2]

 

Active Listing Stats

As of July 24, 2021 a 04:00 PM

NORTH VANCOUVER
550

Homes for Sale

50

Average Days on Market

$2,284,000

Median List Price of a House

WEST VANCOUVER
552

Homes for Sale

81

Average Days on Market

$4,288,000

Median List Price of a House

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.