February 2022
North Shore sales experienced a significant increase from January, fueled by a sharp rise in new listings.
In North Vancouver sales rose 80.5 per cent from January, led by a 52.7 per cent increase in month-over-month new listings. At the same time, total listing levels have started to creep up, ending the month at 371 homes for sale, a 29.3 per cent increase from last month.
Despite this, overall activity continues to lag February 2021, with sales down 17.5 per cent, while total listings are down 26.8 per cent .
For all property types, the February 2022 sales-to-active listing ratio was 70.1 per cent.
By property type, the February ratios were: 50.6 per cent for detached houses, 97.4 per cent for townhomes, and 81.7 per cent for apartments.
In West Vancouver, sales are up 72.3 per cent since January, led by a 53.6 per cent increase in new listings. The month ended with 403 homes for sale, a 12.8 per cent increase from last month.
Compared to February 2021, sales were down 20.6 per cent, while total listings were 15.7 per cent lower.
For all property types, the February 2022 sales-to-active listing ratio was 20.1 per cent.
By property type, the February ratios were: 17.2 per cent for detached houses, 14.3 per cent for townhomes, and 46.2 per cent for apartments.
The Market.
For much of February, strong demand and limited supply continued to define the market. However, as the month progressed, as is often the case this time of year, listings started to steadily rise. With that, there is a sense that some of the urgency is easing, as buyers are either feeling priced out of the market, or are seeing more options and feeling less pressure to go ‘all in’ when competing.
Despite this shift, there are still a number of extraordinary sales being reported daily. That said, we expect if the current trends continue, the market will start to balance out.
As always, we can be reached at 604.983.2518 or by completing the form on this page.
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Past Listing & Sales STATS | February 2022
North Vancouver
| Feb - 22 | Feb - 21 | % Chg | |
| New Listings | 397 | 425 | - 6.6 |
| Total Listings | 371 | 507 | - 26.8 |
| Sales | 260 | 315 | - 17.5 |
| Sales/Listings Ratio | 70.1% | 62% | + 12.9 |
| SP/Original LP | 104.1% | 100% | + 4.1 |
| Days on Market | 7 | 8 | - 12.5 |
| Median Sale Price | |||
| Condo | $800,500 | $715,000 | + 12.1 |
| Townhome | $1,375,000 | $1,147,500 | + 19.8 |
| House | $2,303,500 | $1,953,000 | + 17.9 |
West Vancouver
| Feb - 22 | Feb - 21 | % Chg | |
| New Listings | 212 | 160 | + 32.5 |
| Total Listings | 403 | 478 | - 15.7 |
| Sales | 81 | 102 | - 20.6 |
| Sales/Listings Ratio | 20.1% | 21.3% | - 5.6 |
| SP/Original LP | 97.3% | 95.7% | + 1.7 |
| Days on Market | 8 | 25 | - 68.0 |
| Median Sale Price | |||
| Condo | --* | --* | -- |
| Townhome | -- ** | -- ** | -- |
| House | $3,000,000 | $3,064,000 | - 2.1 |
*Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: Feb 2022: 18 - Feb 2021: 14] -- [**West Van Townhome sales: Feb 2022: 2 - Feb 2021: 4]