May 2022
North Shore home sales activity continued to trend to a more balanced market.
The Market
With higher interest rates and uncertainty around the economy, we are starting to hear from more and more buyers that they want to ‘wait and see’ what happens with the market. Overall, this is translating into fewer buyers seriously looking, with open house visits and showings down; homes taking longer to sell; and the majority of homes selling below list price.
From the frenzied state of our market a few months ago, this is being perceived as a cooling trend, though to date, sales activity has remained fairly consistent [from April, sales were up 1.1 per cent in North Van and down just 2.8 per cent in West Van].
All in all, the stats are still indicative of a strong market, however there is no doubt it is transitioning.
Market Stats.
In North Vancouver, total reported sales were down 22.3 per cent from May 2021, though were much closer to seasonal levels, finishing the month 1.1 per cent above the 10-year May average.
New listings were down 19.9 per cent from May 2021, while total listings were down 30.0 per cent from the same time, ending the month at 509 homes for sale – 37.9 per cent below the 10-year May average.
For all property types, the May 2022 sales-to-active listing ratio was 54.6 per cent (maintaining a seller’s market for the 23rd consecutive month).
By property type, the May ratios were: 35.2 per cent for detached houses, 59.4 per cent for townhomes, and 73.7 per cent for apartments.
By price range, the May ratios were:
| < $750,000: | 97.2 per cent |
| $750k to $1M: | 88.5 per cent |
| $1M - $1.5M: | 59.3 per cent |
| $1.5M - $2M: | 51.0 per cent |
| $2M - $2.5M: | 37.5 per cent |
| $2.5M - $3M: | 33.3 per cent |
| > $3M: | 15.3 per cent |
In West Vancouver, total reported sales were down 21.6 per cent from May 2021 and 25.4 per cent below the 10-year May average.
New listings were down 8.9 per cent from May 2021, while total listings were down 13.9 per cent from the same time, ending the month at 547 homes for sale – 12.6 per cent below the 10-year May average.
For all property types, the May 2022 sales-to-active listing ratio was 12.6 per cent (maintaining a balanced market for the 2nd consecutive month).
By property type, the May ratios were: 10.6 per cent for detached houses, 16.7 per cent for townhomes, and 20.0 per cent for apartments.
By price range, the May ratios were:
| < $1M: | 40.7 per cent |
| $1M - $2M: | 14.3 per cent |
| $2M - $3M: | 15.0 per cent |
| $3M - $4M: | 16.8 per cent |
| $4M-$5M: | 9.9 per cent |
| $5M-$6M: | 9.8 per cent |
| >$6M | 4.3 per cent |
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 | May 2022
North Vancouver
| May - 22 | May - 21 | % Chg | |
| New Listings | 474 | 592 | - 19.9 |
| Total Listings | 509 | 727 | - 30.0 |
| Sales | 278 | 358 | - 22.3 |
| Sales/Listings Ratio | 54.6% | 49% | + 11.0 |
| SP/Original LP | 100.0% | 100.1% | - 0.1 |
| Days on Market | 8 | 7 | + 14.3 |
| Median Sale Price | |||
| Condo | $806,667 | $670,000 | + 20.4 |
| Townhome | $1,315,000 | $1,150,000 | + 14.3 |
| House | $2,150,000 | $1,877,000 | + 14.5 |
West Vancouver
| May - 22 | May - 21 | % Chg | |
| New Listings | 235 | 289 | - 8.9 |
| Total Listings | 547 | 635 | - 13.9 |
| Sales | 69 | 88 | - 21.6 |
| Sales/Listings Ratio | 12.6% | 13.9% | - 9.4 |
| SP/Original LP | 96.0% | 97.3% | - 1.3 |
| Days on Market | 9 | 9 | -- |
| Median Sale Price | |||
| Condo | --* | $912,500 | -- |
| Townhome | -- ** | -- ** | -- |
| House | $3,322,500 | $3,125,000 | + 6.3 |
*Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: May 2022: 13 - May 2021: 20] -- [**West Van Townhome sales: May 2022: 3 - May 2021: 4]