North Vancouver & West Vancouver Real Estate, September 2022

Where we left off in August 2022, sales of all property types – detached homes, condos & townhomes – had declined after a couple months of surprising vigour. This slowing trend has slowed in the case of North Vancouver’s condos & townhomes market, and has actually reversed a little bit in the case of single-family homes. Yes, really! Home sales in North Vancouver increased by 25% during September, while sales of condos & townhomes only shrank by -3%. 

Likely reflecting the current state of the real estate market and the fact that overarching economic patterns have finally caught up to it, the most active price band for detached homes in North Vancouver is between $1.5M to $2M. This price range accounts for over 50% of all homes sold in North Vancouver. Furthermore, 60% of single-family homes sold had 3 bedrooms or more

As to where these homes are selling the most, this month bucked the trend of Lower and Central Lonsdale as Deep Cove, Lynn Valley and Canyon Heights saw increased attention. These neighbourhoods are further removed from the busy core of North Van’s Lonsdale Avenue, their positioning owing more to a suburban lifestyle surrounded by the verdant nature of the North Shore.

View available single-family, detached homes in Deep Cove, Lynn Valley & Canyon Heights.

Another neighbourhood in North Vancouver is Westlynn, which had a 27% sales ratio last month. There are single-family home listings available in the idyllic, tree-lined neighbourhood. If you are interested in living in the Westlynn area, consider this fantastic house (with a legal secondary suite) at 1401 27th Street East.

Infographic for North Vancouver home sales in September 2022.

While North Vancouver’s detached home market seemed to rally, the market for condos & townhomes slowed a bit. Just a bit. The two markets are actually at parity – both at a 22% sales ratio for September. 

The two most active price bands for condos & townhomes are priced between $400,000 to $700,000, or North Vancouver condos & townhomes ranging from $1M to $1.5M. Most of these units on the market are concentrated in neighbourhoods like Mosquito Creek, Roche Point & Central Lonsdale. Central Lonsdale has a lot of multi-unit residential developments currently being built or having finished construction, while Seymour Village in Roche Point continues to expand in phases. Another area popular with condo & townhome buyers is Lower Lonsdale which benefits from its trendy Shipyards commercial area and the Lonsdale Quay Station transit hub.  

Infographic of market data for North Vancouver condos and townhomes.

Sales of detached, single-family homes in West Vancouver declined by only 14% in September. This isn’t that terrible, as the sale-to-list price ratio actually increased by 4% – so the homes which do sell are selling for about 99% of their list price. The most active price band for detached homes in West Vancouver is for homes priced from $1.75M to $2.5M. The most attractive neighbourhoods, per the sales of homes, are Bayridge, Sandy Cove and West Bay. These neighbourhoods are quiet, surrounded by lush forest and are close to great schools.

For those looking for large properties and even more expansive views, sales of detached homes in the British Properties have begun to increase. Take a look at some of these amazing luxury properties available for sale in one of Metro Vancouver’s most exclusive neighbourhoods. This area is only going to grow in interest and value as the Cypress Village development continues to progress, and amenities come to the area. A recent addition is the Mountain Path – a mountain-based answer to the Stanley Park Seawall.

Despite more condos and townhomes entering into inventory, sales in the District of West Vancouver have declined 39% in September 2022. Meagre attached homes sales were concentrated in Dundarave and Ambleside, the two neighbourhoods of West Vancouver where most of the community’s apartment buildings stand. As a result of this dip in sales, there’s plenty of condo inventory at Park Royal and available condo listings in Horseshoe Bay.

The most active price band for condos in West Vancouver is $1.5M to $1.75M.

Listings in Westlynn, North Vancouver

796 E 21st Street, Westlynn, North Vancouver photo number 2
Just Listed
Open House Mar 25th - 26th, 2-4PM
796 E 21st Street  
Westlynn, North Vancouver
$1,589,000 House 5 Beds 2 Baths 2,251 sqft

Listed by RE/MAX Crest Realty.

1334 E 29th Street, Westlynn, North Vancouver photo number 2
New Listing
Open House Mar 25th - 26th, 1:30-4PM
1334 E 29th Street  
Westlynn, North Vancouver
$1,775,000 House 5 Beds 2 Baths 2,143 sqft

Listed by Keller Williams Realty VanCentral.

12 - 1960 Rufus Drive, Westlynn, North Vancouver photo number 2
12 - 1960 Rufus Drive  
Westlynn, North Vancouver
$899,000 Townhome 4 Beds 2 Baths 1,741 sqft

Listed by Sutton Group-West Coast Realty.

Vancouver, Fraser Valley and Chilliwack MLS® Reciprocity Brought to you by your friendly REALTORS® through the MLS® System, courtesy of Ken Stef for your convenience.
Disclaimer: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.