April 2022
North Shore sales trended lower in April as the market continued to see greater balance.
The Market.
With interest rates climbing, there is an expectation that it should impact prices. In general, this has yet to happen, as there are buyers with personal motivating factors, as well as those with still valid rate holds. As rate holds start to expire, we anticipate buyers will be more price sensitive. Until then, we are still seeing some exceptional sales, though overall the market is more balanced, albeit inconsistent. We are seeing fewer multiple offer situations, conditional offers, and more price adjustments - all signs of a market that is normalizing.
Market Stats.
In North Vancouver sales were down 42.2 per cent from April 2021, a staggering decrease, though for perspective, last April remains the highest monthly sales ever reported with 476 homes sold.
Overall, the month was close to historical levels, with sales 4.4 per cent above the 10-year April average.
New listings were down 30.1 per cent from April 2021 while total listings were down 27.9 per cent, ending the month at 476 homes for sale (38.1 per cent below the 10-year April average).
For all property types, the April 2022 sales-to-active listing ratio was 57.8 per cent (still a strong seller’s market).
By property type, the April ratios were: 45.5 per cent for detached houses, 130.8 per cent for townhomes, and 57.6 per cent for apartments.
By price range, the April ratios were:
| < $750,000: | 68.4 per cent |
| $750k to $1M: | 59.0 per cent |
| $1M - $1.5M: | 101.5 per cent |
| $1.5M - $2M: | 41.7 per cent |
| $2M - $2.5M: | 67.2 per cent |
| $2.5M - $3M: | 47.9 per cent |
| > $3M: | 20.0 per cent |
In West Vancouver sales were down 37.2 per cent from April 2021 and were 18.7 per cent below the 10-year April average.
New listings were down 18.0 per cent from last April, while total listings were down 14.8 per cent, ending the month at 488 homes for sale (22.4 per cent below the 10-year April average).
For all property types, the April 2022 sales-to-active listing ratio was 14.5 per cent (representing a ‘balanced market’ – a shift from a ‘seller’s market’ seen in March)
By property type, the April ratios were: 13.2 per cent for detached houses, 15.4 per cent for townhomes, and 20.0 per cent for apartments.
By price range, the April ratios were:
| < $1M: | 22.7 per cent |
| $1M - $2M: | 29.4 per cent |
| $2M - $3M: | 30.4 per cent |
| $3M - $4M: | 16.5 per cent |
| $4M-$5M: | 10.8 per cent |
| $5M-$6M: | 6.0 per cent |
| >$6M | 3.8 per cent |
As always, if you have any questions about our North Shore 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.
Sales.
Search all the North and West Vancouver sales 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 | April 2022
North Vancouver
| Apr - 22 | Apr - 21 | % Chg | |
| New Listings | 468 | 670 | - 30.1 |
| Total Listings | 476 | 660 | - 27.9 |
| Sales | 275 | 476 | - 42.2 |
| Sales/Listings Ratio | 57.8% | 72% | - 19.8 |
| SP/Original LP | 101.0% | 100.4% | + 0.6 |
| Days on Market | 8 | 8 | -- |
| Median Sale Price | |||
| Condo | $781,028 | $699,000 | + 11.7 |
| Townhome | $1,350,000 | $1,180,100 | + 14.4 |
| House | $2,260,500 | $1,935,000 | + 16.8 |
West Vancouver
| Apr - 22 | Apr - 21 | % Chg | |
| New Listings | 233 | 284 | - 18.0 |
| Total Listings | 488 | 573 | - 14.8 |
| Sales | 71 | 113 | - 37.2 |
| Sales/Listings Ratio | 14.5% | 19.7% | - 26.4 |
| SP/Original LP | 96.9% | 97.1% | - 0.2 |
| Days on Market | 10 | 13 | - 23.1 |
| Median Sale Price | |||
| Condo | --* | $880,000 | -- |
| Townhome | -- ** | -- ** | -- |
| House | $3,205,000 | $3,300,000 | - 2.9 |
*Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: April 2022: 13 - April 2021: 28] -- [**West Van Townhome sales: April 2022: 2 - April 2021: 4]