February 2024
Sales on the North Shore experienced a notable upswing from January but still lagged behind historical averages.
Year-over-year new listings were up, which likely fueled the rise in sales, however, listings are generally trailing demand, exerting upward pressure on pricing across various segments.
It is worth noting, that unlike comparable markets in the past, buyers are cautious due to the high-interest rate environment, and as a result, any appreciation observed thus far has been relatively modest.
In North Vancouver sales rose 38.5 per cent from January and saw a year-over-year increase of 9.5 per cent. Despite this, sales were 26.4 below the 10-year February average.
New listings were up 36.5 per cent from February 2023, while total listings were up 8.0 per cent from the same time, ending the month at 484 homes for sale – 14.3 per cent below the 10-year February average.
For all property types, the February 2024 sales-to-active listing ratio was 33.5 per cent.
By property type, the February ratios were: 22.2 per cent for detached houses, 39.4 per cent for townhomes, and 41.7 per cent for apartments.
By price range, the February ratios were:
| < $750,000: | 52.9 per cent |
| $750k to $1M: | 53.9 per cent |
| $1M - $1.5M: | 34.1 per cent |
| $1.5M - $2M: | 36.1 per cent |
| $2M - $2.5M: | 31.5 per cent |
| $2.5M - $3M: | 15.4 per cent |
| > $3M: | 8.5 per cent |
In West Vancouver sales were up 125 per cent from January, with a year-over-year increase of 28.6 per cent. However, despite the increases, sales were 44.8 below the 10-year February average.
New listings were up 9.4 per cent from February 2023, while total listings were up 13.3 per cent from the same time, ending the month at 518 homes for sale – 3.3 per cent below the 10-year February average.
For all property types, the February 2023 sales-to-active listing ratio was 10.4 per cent.
By property type, the February ratios were: 10.0 per cent for detached houses, 13.3 per cent for townhomes, and 12.9 per cent for apartments.
By price range, the February ratios were:
| < $1M: | 18.2 per cent |
| $1M - $2M: | 17.9 per cent |
| $2M - $3M: | 21.9 per cent |
| $3M - $4M: | 11.0 per cent |
| $4M-$5M: | 4.0 per cent |
| $5M-$6M: | 2.5 per cent |
| >$6M | 1.7 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 | February 2024
North Vancouver
| Feb - 24 | Feb - 23 | % Chg | |
| New Listings | 340 | 249 | + 36.5 |
| Total Listings | 487 | 448 | + 8.7 |
| Sales | 162 | 148 | + 9.5 |
| Sales/Listings Ratio | 33.3 | 33% | + 0.9 |
| SP/Original LP | 98.9% | 98.1% | + 0.8 |
| Days on Market | 8 | 10 | - 20.0 |
| Median Sale Price | |||
| Condo | $799,000 | $738,810 | + 8.1 |
| Townhome | $1,312,400 | $1,379,900 | - 4.9 |
| House | $2,141,500 | $1,852,500 | + 15.6 |
West Vancouver
| Feb - 24 | Feb - 23 | % Chg | |
| New Listings | 163 | 149 | + 9.4 |
| Total Listings | 520 | 457 | + 13.8 |
| Sales | 54 | 42 | + 28.6 |
| Sales/Listings Ratio | 10.4% | 9.2% | + 13.0 |
| SP/Original LP | 95.9% | 93.7% | + 2.3 |
| Days on Market | 19 | 29 | - 34.5 |
| Median Sale Price | |||
| Condo | --* | --* | n/a |
| Townhome | -- ** | -- ** | n/a |
| House | $2,520,000 | $2,867,000 | - 12.1 |
Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: Feb 2024: 12 - Feb 2023: 10] - [**West Van Townhome sales: Feb 2024: 2 - Feb 2023: 2]