April 2023
North Shore home sales continued to rebound in April, fueled by active buyers, and despite listings remaining below historical levels.
For select properties, we have seen the return of multiple offers and price appreciation, with interest and enthusiasm from buyers reminiscent of last Spring. That said, overall, our sense is that confidence among buyers is not as strong as last year, and that they are cautious of the economy and weary of prices returning to pre-rate hike levels. Because of this, activity is very inconsistent, and it remains to be seen if price appreciation will last, or if instead it is a short-term response to the beginning of the Spring market.
In North Vancouver sales rose 1.8 per cent from March, though were down 20.8 per cent from April of last year and 17.3 per cent below the 10-year April average.
New listings were down 29.5 per cent from April 2022, while total listings were down 12.1 per cent from the same time, ending the month at 465 homes for sale – 34.0 per cent below the 10-year April average.
For all property types, the April 2023 sales-to-active listing ratio was 46.7 per cent.
By property type, the April ratios were: 43.3 per cent for detached houses, 34.3 per cent for townhomes, and 53.9 per cent for apartments.
By price range, the April ratios were:
| < $750,000: | 68.1 per cent |
| $750k to $1M: | 53.7 per cent |
| $1M - $1.5M: | 51.3 per cent |
| $1.5M - $2M: | 43.0 per cent |
| $2M - $2.5M: | 40.0 per cent |
| $2.5M - $3M: | 42.9 per cent |
| > $3M: | 22.0 per cent |
In West Vancouver sales rose 4.5 per cent from March and were down just 1.4 per cent from April of last year, though finished 19.2 per cent below the 10-year April average.
New listings were down 21.1 per cent from April 2022, while total listings were down 7.2 per cent from the same time, ending the month at 476 homes for sale – 20.5 per cent below the 10-year April average.
For all property types, the April 2023 sales-to-active listing ratio was 14.5 per cent.
By property type, the April ratios were: 13.4 per cent for detached houses, 7.1 per cent for townhomes, and 18.8 per cent for apartments.
By price range, the April ratios were:
| < $1M: | 14.3 per cent |
| $1M - $2M: | 23.7 per cent |
| $2M - $3M: | 22.3 per cent |
| $3M - $4M: | 16.9 per cent |
| $4M-$5M: | 9.1 per cent |
| $5M-$6M: | 17.9 per cent |
| >$6M | 2.8 per cent |
As always, if you have any questions about the North or West Vancouver market, or if we can assist you with a move we'd be pleased to hear from you. We can be reached at 604.983.2518, by completing 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 | April 2023
North Vancouver
| Apr - 23 | Apr - 22 | % Chg | |
| New Listings | 330 | 468 | - 29.5 |
| Total Listings | 465 | 529 | - 12.1 |
| Sales | 217 | 274 | - 20.8 |
| Sales/Listings Ratio | 46.7 | 52% | - 9.8 |
| SP/Original LP | 99.4% | 101.0% | - 1.6 |
| Days on Market | 8 | 8 | -- |
| Median Sale Price | |||
| Condo | $786,500 | $781,028 | + 0.7 |
| Townhome | $1,320,000 | $1,350,000 | - 2.2 |
| House | $2,140,000 | $2,271,000 | - 5.8 |
West Vancouver
| Apr - 23 | Apr - 22 | % Chg | |
| New Listings | 183 | 232 | - 21.1 |
| Total Listings | 476 | 513 | - 7.2 |
| Sales | 69 | 70 | - 1.4 |
| Sales/Listings Ratio | 14.5% | 13.6% | + 6.6 |
| SP/Original LP | 95.8% | 96.9% | - 2.5 |
| Days on Market | 17 | 10 | + 70.0 |
| Median Sale Price | |||
| Condo | --* | --* | n/a |
| Townhome | -- ** | -- ** | n/a |
| House | $3,500,000 | $3,180,000 | + 10.1 |
Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: April 2023: 19 - April 2022: 13] - [**West Van Townhome sales: April 2023: 1 - April 2022: 2]