{"id":623,"date":"2022-10-12T17:59:04","date_gmt":"2022-10-12T21:59:04","guid":{"rendered":"https:\/\/www.kenstef.com\/blog\/?p=623"},"modified":"2022-10-12T17:59:04","modified_gmt":"2022-10-12T21:59:04","slug":"market-update-north-vancouver-west-vancouver-real-estate-september-2022","status":"publish","type":"post","link":"https:\/\/bcoceansideproperties.com\/blog\/market-update-north-vancouver-west-vancouver-real-estate-september-2022\/","title":{"rendered":"North Vancouver & West Vancouver Real Estate, September 2022"},"content":{"rendered":"

Where we left off in August 2022, <\/span>sales of all property types – detached homes, condos & townhomes – had declined<\/span><\/a> after a couple months of surprising vigour. This slowing trend has slowed in the case of North Vancouver\u2019s 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%<\/strong> during September, while sales of condos & townhomes only shrank by -3%.\u00a0<\/span><\/p>\n

Likely reflecting the current state of the real estate market and the fact that overarching economic patterns have finally caught up to it, the <\/span>most active price band for detached homes in North Vancouver is between $1.5M to $2M<\/span><\/a>. This price range accounts for over 50% of all homes sold in North Vancouver. Furthermore, <\/span>60% of single-family homes sold had 3 bedrooms or more<\/span><\/a>.\u00a0<\/span><\/p>\n

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\u2019s Lonsdale Avenue, their positioning owing more to a suburban lifestyle surrounded by the verdant nature of the North Shore.<\/span><\/p>\n

View available single-family, detached homes in Deep Cove, Lynn Valley & Canyon Heights<\/span><\/a>.<\/span><\/p>\n

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

\"Infographic<\/p>\n

While North Vancouver\u2019s 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.\u00a0<\/span><\/p>\n

The two most active price bands for condos & townhomes are <\/span>priced between $400,000 to $700,000<\/span><\/a>, or <\/span>North Vancouver condos<\/span><\/a> & <\/span>townhomes ranging from $1M to $1.5M<\/span><\/a>. 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 <\/span>popular with condo & townhome buyers is Lower Lonsdale<\/span><\/a> which benefits from its trendy Shipyards commercial area and the Lonsdale Quay Station transit hub.\u00a0\u00a0<\/span><\/p>\n

\"Infographic<\/p>\n

Sales of detached, single-family homes in West Vancouver declined by only 14% in September. This isn\u2019t <\/span>that<\/span><\/i> 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 <\/span>homes priced from $1.75M to $2.5M<\/span><\/a>. 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.<\/span><\/p>\n