January 2024
January kicked off with a sluggish start, but picked up noticeably in the latter part of the month.
It is likely the cold spell impacted activity, as many buyers and sellers avoided looking or listing in the snow. In addition to this, we sense lower than typical interest and urgency from sellers to come to market, possibly indicating a wait-and-see approach as many hold-out for positive news on interest rates (or updates from the Provincial Government re new zoning guidelines).
As a result, there was limited choice and selection throughout January, leading in some cases to modest upward pressure on pricing. To start February, there has been a slight uptick in listings, but anecdotally, still lower than is needed to support demand.
In North Vancouver, year-over-year sales were up 42.7 per cent – a strong rebound from January 2023 which saw the lowest monthly sales total since January 2009. Despite this, sales still trailed the 10-year January average by 7.1 per cent.
New listings were up 14.5 per cent from January 2023, while total listings were down 6.8 per cent from the same time, ending the month at 399 homes for sale – 21.1 per cent below the 10-year January average.
For all property types, the January 2024 sales-to-active listing ratio was 29.3 per cent.
By property type, the January ratios were: 23.6 per cent for detached houses, 34.7 per cent for townhomes, and 34.8 per cent for apartments.
By price range, the January ratios were:
| < $750,000: | 54.7 per cent |
| $750k to $1M: | 24.3 per cent |
| $1M - $1.5M: | 36.6 per cent |
| $1.5M - $2M: | 48.1 per cent |
| $2M - $2.5M: | 30.8 per cent |
| $2.5M - $3M: | 9.1 per cent |
| > $3M: | 5.7 per cent |
In West Vancouver, year-over-year sales were down 11.1 per with 24 homes sold. This is 45.6 per cent below the 10-year January average and represents the lowest monthly sales total since Dec 2008.
New listings were up 40.2 per cent from January 2023, while total listings were up 8.0 per cent from the same time, ending the month at 473 homes for sale – 4.3 per cent below the 10-year January average.
For all property types, the January 2024 sales-to-active listing ratio was 5.1 per cent.
By property type, the January ratios were: 4.0 per cent for detached houses and 8.1 per cent for apartments (there were too few townhome sales to report a ratio).
By price range, the January ratios were:
| < $1M: | 10.5 per cent |
| $1M - $2M: | 9.8 per cent |
| $2M - $3M: | 8.7 per cent |
| $3M - $4M: | 3.2 per cent |
| $4M-$5M: | 1.6 per cent |
| $5M-$6M: | 10.3 per cent |
| >$6M | 0.9 per cent |
Sales.
Search all North Shore sales with access to complete sold data (including listed and sale prices, days on market, and more):
North Vancouver Sales >> | West Vancouver Sales >>
As always, if you have any questions about the North or West Vancouver real estate market, or if we can assist you with a purchase or sale we'd be pleased to hear from you. We can be reached at 604.983.2518, via 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 | January 2024
North Vancouver
| Jan - 24 | Jan - 23 | % Chg | |
| New Listings | 261 | 228 | + 14.5 |
| Total Listings | 399 | 428 | - 6.8 |
| Sales | 117 | 82 | + 42.7 |
| Sales/Listings Ratio | 29.3 | 19% | + 52.6 |
| SP/Original LP | 98.3% | 97.9% | + 0.4 |
| Days on Market | 11 | 31 | - 64.5 |
| Median Sale Price | |||
| Condo | $811,000 | $795,000 | + 2.0 |
| Townhome | $1,425,000 | $1,295,000 | + 10.0 |
| House | $2,099,000 | $1,862,500 | + 12.7 |
West Vancouver
| Jan - 24 | Jan - 23 | % Chg | |
| New Listings | 171 | 122 | + 40.2 |
| Total Listings | 473 | 438 | + 8.0 |
| Sales | 24 | 27 | - 11.1 |
| Sales/Listings Ratio | 5.1% | 6.2% | - 17.7 |
| SP/Original LP | 93.5% | 92.4% | + 1.2 |
| Days on Market | 85 | 43 | + 97.7 |
| Median Sale Price | |||
| Condo | --* | --* | n/a |
| Townhome | -- ** | -- ** | n/a |
| House | $2,800,000 | $2,750,000 | + 1.8 |
Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: Jan 2024: 6 - Jan 2023: 9] - [**West Van Townhome sales: Jan 2024: 2 - Jan 2023: 0]