2021 Year End

Jan. 5, 2022

The North and West Vancouver housing market saw double digit year-over-year sales growth in 2021.

In North Vancouver, there were 3,506 homes reported sold, the highest yearly sales total on record. This was 32.3 per cent above the number of homes sold in 2020 and 34.2 per cent above the 10-year sales average.

The strong year was led by a record setting first half that saw the highest sales total January-to-June ever reported, a 116.6 per cent increase from the first half of 2020 and 49.4 per cent above the 10-year January-to-June sales average.

For the year, the median sale price of a North Vancouver single-family home was up 15.8 per cent to $1,980,000, the median sale price of a condo was up 8.0 per cent to $702,000, and the median sale price of an attached home (townhomes and half duplexes) was up 17.6 per cent to $1,250,000.

In West Vancouver, there were 1,028 homes sold, 32.8 per cent above 2020 and 12.1 per cent above the 10-year sales average.

This year-over-year growth was also the result of a strong first half that saw a 110.2 per cent increase from the first half of 2020, with sales 15.6 per cent above the 10-year January-to-June average.

For the year, the median sale price of a West Vancouver single-family home was up 15.9 per cent to $2,584,000, the median sale price of a condo was up 1.4 per cent to $1,060,000, while the median sale price of an attached home (townhomes and half duplexes) was up 30.9 per cent to $2,025,000.

Recap and the year ahead. The market showed considerable resilience in 2021. Despite tougher mortgage qualification rules, uncertainty around the pandemic and the economy, and in the face of provincial elections, the market continued an upward trend. In past years, this would have tempered demand. The fact that it didn’t, speaks to the confidence buyers have in the long-term value of our local real estate (and unfortunately, also to the wealth inequality that the pandemic has accelerated).

The optimists in us hope that we are closer to the end of the pandemic than the beginning, and that this year will see a return to more normal life and possibly more typical market conditions.

That said, now, more than ever, it appears there is strong support for government intervention that will likely see new measures enacted in 2022. What long-term results these will have remain to be seen, though, in the short-term, they will add some uncertainty to the market.

The 2022 BC Assessments are now available with values as of July 1st, 2021. Many will have seen their assessments increase, with certain areas experiencing significant jumps from last year.  If you have questions about your new assessment, or would like sales information to support an appeal, please contact us here.

Sales. Search all the North and West Vancouver sales that sold in 2021 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 | December 2021

North Vancouver 

West Vancouver 

*Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: Dec 2021: 17 - Dec 2020: 18] -- [**West Van Townhome sales: Dec 2021: 3 - Dec 2020: 5]