May 2021
North Shore sales continued to far outpace last year's pandemic reduced totals, while also trending down from record highs seen earlier in the spring.
In North Vancouver, total reported sales were up 165.2 per cent from May 2020 and 31.3 per cent above the 10-year May average. Despite this, monthly sales declined for the first time this year, down 24.7 per cent from April.
New listings were up 76.2 per cent from May 2020, while total listings were down 9.5 per cent from the same time, ending the month at 670 homes for sale – the highest month ending total for the year.
For all property types, the May 2021 sales-to-active listing ratio was 53.4 per cent, a further drop from the peak of 82.6 per cent seen in March, yet still well into ‘Seller’s market’ territory.
By property type, the May ratios were: 45.3 per cent for detached houses, 58.6 per cent for townhomes, and 59.4 per cent for apartments.
By price range, the ratios were:
| < $750,000: | 87.5 per cent |
| $750k to $1M: | 65.6 per cent |
| $1M - $1.5M: | 46.1 per cent |
| $1. 5M - $2M: | 55.1 per cent |
| $2M - $2.5M: | 60.0 per cent |
| $2.5M - $3M: | 17.4 per cent |
| > $3M: | 24.6 per cent |
North Van Prices.
The MLS® Home Price Index (HPI) composite benchmark price of a house in North Vancouver was $1,902,600 (up 23.2 per cent from May 2020). The MLS® HPI price of a condo in North Vancouver was $654,000 (up 10.1 per cent from May 2020). The MLS® HPI price of a townhome in North Vancouver was $1,104,900 (up 12.8 per cent from May 2020).
In West Vancouver, total reported sales were up 97.8 per cent from May 2020, although were 6.9 per cent below the 10-year May average. Sales declined for the second consecutive month, down 21.2 per cent from April of this year
New listings were up 88.3 per cent from last May, while total listings were up 11.0 percent from the same time, ending the month at 603 homes for sale – the highest month ending total for the year.
For all property types, the May sales-to-active listings ratio was 14.8 per cent, still a ‘seller’s market’ though nearly half of the peak seen in March of 28.6 per cent.
By property type, the May 2021 sales-to-active listing ratios were: 12.5 per cent for detached houses, 16.0 per cent for townhomes, and 25.3 per cent for apartments.
By price range, the ratios were:
| < $1M: | 44.8 per cent |
| $$1M - $2M: | 22.1 per cent |
| $2M - $3M: | 20.6 per cent |
| $3M - $4M: | 16.2 per cent |
| $4M-$5M: | 9.0 per cent |
| $5M-$6M: | 3.4 per cent |
| >$6M | 4.9 per cent |
West Van Prices.
The MLS® Home Price Index (HPI) composite benchmark price of a house in West Vancouver was $3,139,800 (up 19.8 per cent from May 2020). The MLS® HPI price of a condo in West Vancouver was $1,131,000 (up 12.4 per cent from May 2020).
The Market.
Since March, the market has continued to see greater balance – more listings coming on and fewer buyers actively looking. Overall, the stats show a strong ‘seller’s market’, however there is a perceived cooling trend. With this, we are starting to see more inconsistencies in sales as some properties garner strong interest and multiple offers, and others are taking longer to sell. At the moment, we are reminding clients that this is much more indicative of a normal Vancouver market.
Moving Forward.
As we get closer to the summer, we expect activity to continue to balance out, with the potential to be exaggerated this year with lifted travel restrictions.
As always, if you have questions about the market stats in our review, 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.
Sales. 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 | May 2021
North Vancouver
| May - 21 | May - 20 | % Chg | |
| New Listings | 592 | 336 | + 76.2 |
| Total Listings | 670 | 740 | - 9.5 |
| Sales | 358 | 135 | + 165.2 |
| Sales/Listings Ratio | 53.4% | 18.2% | + 469.1 |
| SP/Original LP | 100.1% | 97.5% | + 2.7 |
| Days on Market | 7 | 12 | - 41.7 |
| Median Sale Price | |||
| Condo | $670,000 | $667,900 | + 0.3 |
| Townhome | $1,150,000 | $1,000,000 | + 15.0 |
| House | $1,877,000 | $1,580,000 | + 18.8 |
West Vancouver
| May - 21 | May - 20 | % Chg | |
| New Listings | 258 | 137 | + 88.3 |
| Total Listings | 603 | 543 | + 11.0 |
| Sales | 89 | 45 | + 97.8 |
| Sales/Listings Ratio | 14.8% | 8.3% | + 78.3 |
| SP/Original LP | 97.3% | 90.7% | + 7.3 |
| Days on Market | 9 | 53 | - 83.0 |
| Median Sale Price | |||
| Condo | $900,000 | --** | -- |
| Townhome | -- ** | -- | -- |
| House | $3,125,000 | $2,145,000 | + 45.7 |
**Note: Median sale prices not reported when there are less than 20 sales [West Van condo sales: May 2021: 21 - May 2020: 12] -- [West Van Townhome sales: May 2021: 4 - May 2020: 2]