November 2022

Dec. 2, 2022

With one month left in the year, North Shore sales continue to trail 2021’s activity as well as long term averages.

In North and West Vancouver, sales January through November are 31.5 per cent and 34.5 per cent below total sales seen in all of 2021, respectively. 

This is as much a function of the strong 2021 market, as well as how challenging the market has become through the later months of this year with rising rates, inflation, and uncertainty around the economy.  

As of now, the market in one word is ‘inconsistent’. There are certain homes and segments that are seeing decent interest from buyers – even with instances of multiple offers; while many listings are seeing reduced activity due to the time of year as well as market conditions.

To close out 2022, we expect the market to quiet down as we head towards the Holidays, as many consumers begin to delay their purchase or sale till the new year.

November Stats

In North Vancouver, sales were down 39.4 per cent from November 2021, and were 28.7 per cent below the 10-year November average.

New listings were down 10.0 per cent from November 2021, while total listings were up 22.6 per cent from the same time, ending the month at 516 homes for sale – 25.3 per cent below the 10-year November average.

For all property types, the November 2022 sales-to-active listing ratio was 28.9 per cent.

By property type, the Nov ratios were: 29.6 per cent for detached houses, 14.8 per cent for townhomes, and 33.8 per cent for apartments.

By price range, the November ratios were:

In West Vancouver, sales were down 61.8 per cent from November 2021, and were 56.1 per cent below the 10-year November average.

New listings were down 1.8 per cent from November 2021, while total listings were up 10.0 per cent from the same time, ending the month at 539 homes for sale – 11.3 per cent below the 10-year November average.

For all property types, the November 2022 sales-to-active listing ratio was 5.4 per cent.

By property type, the November ratios were: 4.3 per cent for detached houses and 10.2 per cent for apartments (there were no townhome sales reported in November).

By price range, the November ratios were:

2023.

Considering a purchase or sale in 2023? Now is a great time to start planning.

If you are thinking of selling, we’d be pleased to discuss the market value of your home, offer suggestions to get it ready for sale, and discus timing that works best for you.

If you are thinking of buying, our team would love to share with you our market knowledge and to help you find the perfect home.

We can be reached at 604.983.2518, at the form on this page, or by appointment at our office  110 East 1st Street, North Vancouver.

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Past Listing & Sales STATS | November 2022

North Vancouver 

West Vancouver 

*Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: November 2022: 11 - November 2021: 19] -- [**West Van Townhome sales: November 2022: 0 - November 2021: 9]