July 2022
The summer lull has set in on the North Shore market, as sales continued to trend lower.
In addition to the typical seasonal forces, concerns about the economy and fear of rising interest rates continue to weigh on the market and buyer enthusiasm. Overall, both buyers and sellers are concerned about where the market is headed, with diminishing sales due to the summer, compounding uncertainty.
Anecdotally, we are seeing a greater number of subject offers (including subject to the sale), and a trend of offers falling through on financing, inspections, or general ‘cold-feet’. This is common for a normal market, though is a shift from conditions sellers had become accustomed to over the last few years.
Moving forward, we expect the market to continue at a similar pace through August, with the potential for an uptick in new listings in September.
In North Vancouver, total reported sales were down 29.8 per cent from July 2021 and were 21.2 per cent below the 10-year July average.
New listings were up 1.4 per cent from July 2021, while total listings were down 7.0 per cent from the same time, ending the month at 555 homes for sale – 31.0 per cent below the 10-year July average.
For all property types, the July 2022 sales-to-active listing ratio was 31.4 per cent (maintaining a seller’s market).
By property type, the July ratios were: 19.0 per cent for detached houses (dipping into a balanced market for the first time since May 2020), 26.6 per cent for townhomes, and 46.1 per cent for apartments.
By price range, the July ratios were:
| < $750,000: | 66.7 per cent |
| $750k to $1M: | 40.8 per cent |
| $1M - $1.5M: | 40.9 per cent |
| $1.5M - $2M: | 21.2 per cent |
| $2M - $2.5M: | 27.5 per cent |
| $2.5M - $3M: | 5.8 per cent |
| > $3M: | 6.9 per cent |
In West Vancouver, total reported sales were down 43.4 per cent from July 2021 and 36.7 per cent below the 10-year July average.
New listings were down 7.6 per cent from July 2021, while total listings were down 6.9 per cent from the same time, ending the month at 554 homes for sale – 19.0 per cent below the 10-year July average.
For all property types, the July 2022 sales-to-active listing ratio was 8.5 per cent (moving to a buyer’s market).
By property type, the July ratios were: 7.0 per cent for detached houses, 28.6 per cent for townhomes, and 13.1 per cent for apartments.
By price range, the July ratios were:
| < $1M: | 21.4 per cent |
| $1M - $2M: | 14.3 per cent |
| $2M - $3M: | 16.5 per cent |
| $3M - $4M: | 8.3 per cent |
| $4M-$5M: | 3.7 per cent |
| $5M-$6M: | 2.0 per cent |
| >$6M | 2.2 per cent |
Sales.
Search North and West Vancouver sales with access to all sold data (including listed and sale prices, days on market, and more).
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North Vancouver Sales >> | West Vancouver Sales >>
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Past Listing & Sales STATS | July 2022
North Vancouver
| July - 22 | July - 21 | % Chg | |
| New Listings | 300 | 296 | + 1.4 |
| Total Listings | 555 | 597 | - 7.0 |
| Sales | 174 | 248 | - 29.8 |
| Sales/Listings Ratio | 31.4% | 41% | - 24.3 |
| SP/Original LP | 98.3% | 99.3% | - 1.0 |
| Days on Market | 11 | 10 | + 10.0 |
| Median Sale Price | |||
| Condo | $725,000 | $699,800 | + 3.6 |
| Townhome | $1,300,000 | $1,250,000 | + 4.0 |
| House | $2,020,000 | $1,875,000 | + 7.7 |
West Vancouver
| July - 22 | July - 21 | % Chg | |
| New Listings | 145 | 157 | - 7.6 |
| Total Listings | 554 | 595 | - 6.9 |
| Sales | 47 | 83 | - 43.4 |
| Sales/Listings Ratio | 8.5% | 13.9% | - 38.8 |
| SP/Original LP | 95.0% | 96.3% | - 1.3 |
| Days on Market | 17 | 19 | - 10.5 |
| Median Sale Price | |||
| Condo | --* | $985,000 | -- |
| Townhome | -- ** | -- ** | -- |
| House | $2,870,000 | $2,900,000 | - 1.0 |
*Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: July 2022: 21 - July 2021: 13] -- [**West Van Townhome sales: July 2022: 6 - July 2021: 4]