Q2 [APRIL - JUNE] 2022

July 5, 2022

The North Shore market continues to transition as typical seasonal trends, rising interest rates, and inflation concerns impact activity.

To start the summer season, as is common, sales are down while listing inventories are slowly rising. No doubt this seasonal shift is heightened by the removal of covid restrictions, as for the first time in two years consumers are able to freely travel. However, compounding the trend is dwindling consumer confidence, as those in the market are looking for value to offset rising rates and concerns about the overall economy.

For buyers, there is greater selection and a more normal buying experience - with time to make a decision, carry out due diligence, and the return to conditional offers.

For sellers, there is less certainty regarding pricing, with sales often failing to keep pace with recent highs.

Moving Forward.

Despite a drop in sales, we have yet to see a meaningful increase in listing inventories, with North and West Van active listings still well below historical levels. It is likely that this will continue through the summer, as many sellers may target September in the hopes of finding more activity then. If that's the case, we expect the summer to be largely moved by those that need to, or want to, buy and sell now - though with an overall continued shift towards a softer market.

The Stats

In North Vancouver, Q2 [April-June] sales were down 34.8 per cent from the same three months in 2021, while new listings were down 18.4 per cent.

In June, total reported sales were down 37.5 per cent from June 2021, yet were 23.1 per cent above the 10-year June average.

New listings were up 1.1 per cent from last June, while total listings were down 14.7 per cent from the same time, ending the month at 590 homes for sale (28.5 per cent below the 10-year June average).

For all property types, the June 2022 sales-to-active listing ratio was 33.9 per cent.

By property type, the June ratios were: 25.0 per cent for detached houses, 56.3 per cent for townhomes, and 38.5 per cent for apartments.

By price range, the June ratios were:

In West Vancouver, Q2 sales were down 30.1 per cent from the same period in 2021, while new listings were down 10.7 per cent.

In June, total reported sales were down 29.4 per cent from June 2021 and 29.7 per cent below the 10-year June average.

New listings were down 2.4 per cent from last June, while total listings were down 10.4 percent from the same time, ending the month at 568 homes for sale (17.3 per cent below the 10-year June average).

For all property types, the June sales-to-active listings ratio was 10.6 per cent.

By property type, the June 2022 sales-to-active listing ratios were: 7.1 per cent for detached houses, 31.3 per cent for townhomes, and 20.6 per cent for apartments.

By price range, the June ratios were:

Sales. 

Search 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 >>

Questions? We can be reached at 604.983.2518 or by completing the form on this page.

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Past Listing & Sales STATS | June 2022

North Vancouver 

West Vancouver 

*Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: June 2022: 20 - June 2021: 19] -- [**West Van Townhome sales: June 2022: 5 - June 2021: 5]