Though not as steep a change as the condos & townhomes market, the market for North Vancouver single-family homes has warmed up. The total sales has increased 22% over September\u2019s numbers, with a 9% rise in the average sale price. This has resulted in a 30% sales ratio for detached homes – which is higher than other parts of Vancouver.\u00a0<\/span>The most active priceband for detached homes in North Vancouver is 55% sales ratio for <\/span>houses priced between $2,000,000 to $2,250,000<\/span><\/a>. The second most active is <\/span>single-family homes costing $1.75 million to $2 million<\/span><\/a> with a 41% sales ratio (but more overall sales).<\/span><\/p>\n Single-family homes with 5-6 bedrooms<\/a> sold at a 34% sales ratio proving they were the most popular option among homebuyers seeking houses with space to spare. Such as this beautiful 5-bedroom home in North Vancouver\u2019s Westlynn neighbourhood<\/span><\/a>. It features a downstairs suite which can be rented out, a backyard with a patio and pool, and an underdrive garage fitting two vehicles. <\/span><\/p>\n The most active North Vancouver neighbourhoods for detached home sales saw quite high sales ratios paired with commendable share of sales. The Pemberton Heights neighbourhood had an 83% sales ratio for the month of October. Popular Lynn Valley had a 47% sales ratio, stemming from 8 sales. While the Upper Lonsdale neighbourhood had 7 sales which created a 28% sales ratio.\u00a0<\/span><\/p>\n Some neighbourhoods with very few sales saw unbelievable sales ratios, like <\/span>Blueridge\u2019s 200% sales ratio for houses<\/span><\/a>, or <\/span>133% sales ratio for homes in Calverhall<\/span><\/a>. <\/span><\/p>\n North Vancouver condo & townhome sales rose 66% in October. That\u2019s the big headline of the market in North Vancouver. Sure, the average sale price lowered a bit and the sale to list price ratio remained the same at 98%, but sales rose two-thirds over September\u2019s sales figure<\/strong>. The most active priceband – in a broad sense – is $400,000 to $900,000. Sales of condos & townhomes in this price range reached almost 50% sales ratio. <\/span>View available condos priced from $400K to $900K<\/span><\/a>, and view <\/span>townhomes in this priceband for sale in North Vancouver<\/span><\/a>.<\/span><\/p>\n More specifically, the top performing priceband at 83% is for <\/span>condos & townhomes priced between $500,000 to $600,000<\/span><\/a>.\u00a0<\/span><\/p>\n Studios and properties with 1 bedroom were some of the most popular attached property types during the month of October.\u00a0<\/span><\/p>\n The three most active neighbourhoods among homebuyers of condos & townhomes in North Vancouver are Lower Lonsdale, Pemberton and Central Lonsdale. These neighbourhoods have previously been the most active neighbourhoods in other market updates and it\u2019s not unexpected. New residential developments are breaking ground in these North Vancouver neighbourhoods all the time, especially in the Pemberton neighbourhood with its Lions Gate Village.<\/span><\/p>\n Lower Lonsdale at 39% sales ratio with 35 sales.<\/span><\/p>\n Pemberton neighbourhood at a 37% sales ratio with 19 sales.<\/span><\/p>\n Central Lonsdale at 29% sales ratio from 17 sales.<\/span><\/p>\n The Lynnmour neighbourhood deserves its own special mention. This neighbourhood is located next to Capilano University, near Lynn Valley and the Ironworkers Memorial Bridge. The neighbourhood saw a 23% sales ratio for condos & townhomes. <\/span>View available listings in this quiet neighbourhood<\/span><\/a>.<\/span><\/p>\n In October, West Vancouver became a Buyer\u2019s Market for detached, single-family homes. This is owing to the low number of sales compared to a high inventory number. The sales ratio for the municipality was 7%. Even though total sales of properties rose 17%, this increase appears to have been buoyed by homes selling for an average of 8% under asking.\u00a0<\/span><\/p>\n The <\/span>most active priceband for detached homes is $2.25 million to $2.5 million<\/span><\/a> at a 23% sales ratio. The other most active priceband is for <\/span>single-family homes costing between $3M to $3.5M<\/span><\/a> at a 13% sales ratio. The most popular homes among homebuyers are actually at or below the average sale price of $3 million. There\u2019s a significant number of <\/span>homes priced above $7,500,000<\/span><\/a> which remain on the market – with only 1 sales in October for these luxury properties.<\/span><\/p>\n In terms of neighbourhood-by-neighbourhood sales activity, there\u2019s a three-way tie for 1st place last month – with a total of 4 sales each. Both Caulfeild and Ambleside led with 13% sales ratios, while British Properties took third place with a 5% sales ratio. The neighbourhood, referred to locally as the BPs, has the largest inventory in West Vancouver, but still had the same sales as areas like Caulfeild and Ambleside.<\/span><\/p>\n The overall economy is undergoing a shift. That much has been talked about often, and it shouldn\u2019t come as any surprise that the total number of sales in West Vancouver increased by 21%, but the average sale price on condos & townhomes declined by 30%. The new average sale price is $930,000 for these attached homes. Bearing that in mind, it makes sense that the most active priceband in West Vancouver are <\/span>condos & townhomes costing $800,000 to $1,000,000<\/span><\/a>. This has resulted in a 75% sales ratio.\u00a0<\/span><\/p>\n Since most of West Vancouver\u2019s condo & townhome stock is concentrated in Ambleside and Dundarave, these two neighbourhoods had the highest sales ratios for October. With a 28% sales ratio, <\/span>condos & townhomes in Dundarave proved to be very popular<\/span><\/a>. <\/span>Condos & townhomes in Ambleside<\/span><\/a> held their own as well, at 21% sales ratio.<\/span><\/p>\n Technically, Cedardale had the highest sales ratio in West Vancouver. However, with only 2 total sales, this is not exactly fair against higher sales volumes in Dundarave and Ambleside. Nevertheless, there are <\/span>condos & townhomes available for sale in the Cedardale area.<\/span><\/a><\/p>\n Condos & townhomes with 2-bedrooms were the most popular choice for homebuyers in October. It\u2019s possible homebuyers are continuing to pursue more affordable properties as increased interest rates sink in, but still stretching for properties with room to grow. 2-bedroom properties represented 65% of all condo & townhome sales in West Vancouver.\u00a0<\/span><\/p>\n The North Shore communities of North Vancouver and West Vancouver saw differing sales levels during October 2022. This has been continuing a trend of ups and …<\/p>\n","protected":false},"author":2,"featured_media":673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[153,154,174,206,149,50,208,157,172,181,205,178,96,3,19,207,12,204],"yoast_head":"\n\n
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<\/p>\nCondo & Townhome Sales Increase in North Vancouver<\/span><\/h3>\n
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<\/p>\nWest Vancouver Homes in a Buyer’s Market<\/span><\/h3>\n
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<\/p>\nIncreased Demand for Condos & Townhomes in West Vancouver<\/span><\/h3>\n
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