August 2021
Sales activity continued to moderate through August, constrained by seasonal trends and a lack of inventory.
Traditionally August is one of the slowest months of the year, as many buyers, sellers, and agents take advantage of the good weather for time away.
The buyers that remained active were faced with limited new listings and a dwindling supply of homes for sale. The result was inconsistency in prices, as some homes, in certain segments, were well received with quick sales and exceptional prices; while some others in less active segments received more typical restrained summer interest.
Moving forward, we expect inventory levels to continue to define our market with an expected increase now that summer holidays are over.
In North Vancouver, sales declined for the fourth consecutive month, finishing August with 213 homes sold (down 14.1 per cent from July of this year, and 14.1 per cent from August 2020).
New listings were down 49.7 per cent from August 2020, while total listings were down 54.6 per cent for the same time, ending the month at 441 homes for sale (44.0 per cent below the 10-year August average).
For all property types, the August 2021 sales-to-active listing ratio was 47.7 per cent, up 87.1 per cent from August 2020.
By property type, the August ratios were: 38.9 per cent for detached houses, 74.5 per cent for townhomes, and 47.8 per cent for apartments.
By price range, the August ratios were:
| < $750,000: | 75.6 per cent |
| $750k to $1M: | 43.7 per cent |
| $1M - $1.5M: | 76.5 per cent |
| $1. 5M - $2M: | 56.3 per cent |
| $2M - $2.5M: | 38.5 per cent |
| $2.5M - $3M: | 28.1 per cent |
| > $3M: | 11.5 per cent |
North Van Prices.
The MLS® Home Price Index (HPI) composite benchmark price of a house in North Vancouver was $1,865,800 (up 15.5 per cent from August 2020). The MLS® HPI price of a condo in North Vancouver was $649,600 (up 8.8 per cent from August 2020). The MLS® HPI price of a townhome in North Vancouver was $1,140,100 (up 13.8 per cent from August 2020).
In West Vancouver, sales declined for the fifth consecutive month, finishing August with 67 homes sold (down 19.2 per cent from July of this year, and up 4.7 per cent from August 2020).
New listings were down 34.2 per cent from August 2020, while total listings were down 21.9 per cent from the same time, ending the month at 523 homes for sale (21.7 per cent below the 10-year August average).
For all property types, the August sales-to-active listings ratio was 12.7 per cent, up 32.3 per cent from August 2020.
By property type, the August 2021 sales-to-active listing ratios were: 9.9 per cent for detached houses, 12.0 per cent for townhomes, and 34.5 per cent for apartments.
By price range, the August ratios were:
| < $1M: | 56.0 per cent |
| $$1M - $2M: | 22.0 per cent |
| $2M - $3M: | 22.2 per cent |
| $3M - $4M: | 9.9 per cent |
| $4M-$5M: | 10.0 per cent |
| $5M-$6M: | 10.0 per cent |
| >$6M | 3.2 per cent |
West Van Prices.
The MLS® Home Price Index (HPI) composite benchmark price of a house in West Vancouver was $3,088,900 (up 15.6 per cent from August 2020). The MLS® HPI price of a condo in West Vancouver was $1,102,400 (up 10.1 per cent from August 2020). (stats for townhomes not available due to a lack of sufficient sales numbers)
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 >>
As always, if you have any questions about our Market Review or if we can help with a move we'd be pleased to hear from you. We can be reached at 604.983.2518 or by completing the form on this page.
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Past Listing & Sales STATS | August 2021
North Vancouver
| Aug - 21 | Aug - 20 | % Chg | |
| New Listings | 244 | 487 | - 49.9 |
| Total Listings | 447 | 972 | - 54.0 |
| Sales | 213 | 248 | - 14.1 |
| Sales/Listings Ratio | 47.7% | 25.5% | + 87.1 |
| SP/Original LP | 98.9% | 97.3% | + 1.6 |
| Days on Market | 13 | 13 | -- |
| Median Sale Price | |||
| Condo | $675,000 | $624,000 | + 8.2 |
| Townhome | $1,277,500 | $1,060,000 | + 20.5 |
| House | $1,860,000 | $1,710,000 | + 8.8 |
West Vancouver
| Aug - 21 | Aug - 20 | % Chg | |
| New Listings | 125 | 190 | - 34.2 |
| Total Listings | 526 | 670 | - 21.5 |
| Sales | 67 | 64 | + 4.7 |
| Sales/Listings Ratio | 12.7% | 9.6% | + 32.3 |
| SP/Original LP | 95.5% | 93.8% | + 1.8 |
| Days on Market | 21 | 36 | - 41.7 |
| Median Sale Price | |||
| Condo | -- ** | -- | -- |
| Townhome | -- ** | -- | -- |
| House | $2,935,000 | $2,700,000 | + 8.72 |
**Note: Median sale prices not reported when there are less than 20 sales [West Van condo sales: Aug 2021: 19 - Aug 2020: 11] -- [West Van Townhome sales: Aug 2021: 3 - Aug 2020: 4]