Q3 [JULY - SEPT] 2022

Oct. 4, 2022

Market activity continued to adjust through September contributing to the largest quarterly drop in sales for the year in both North and West Vancouver. This marked the 5th consecutive quarter of decreasing sales, highlighting the fact that the market started to shift last year, though has accelerated with higher interest rates and concerns about the economy.

Despite this, the stats still show some positives. Across the North Shore, new listings are coming on at a slower pace than last year, while listings levels continue to remain below historic levels.

Overall, there is sense among agents that buyers and sellers, having had time to adjust to the higher rates, are getting more active.  This could be seasonal, as generally the fall is busier, however after a slow summer encouraging nonetheless.

The Stats

In North Vancouver, Q3 [July-Sept] sales were down 38.4 per cent from the same three months in 2021, while new listings were down 3.0 per cent.

In September, total reported sales were down 44.3 per cent from Sept 2021, and were 35.1 per cent below the 10-year September average.

New listings were down 3.4 per cent from last September, while total listings were up 15.2 per cent from the same time, ending the month at 638 homes for sale (21.5 per cent below the 10-year September average).

For all property types, the September 2022 sales-to-active listing ratio was 20.1 per cent.

By property type, the September ratios were: 18.7 per cent for detached houses, 19.8 per cent for townhomes, and 21.9 per cent for apartments.

By price range, the September ratios were:

In West Vancouver, Q3 sales were down 35.5 per cent from the same period in 2021, while new listings were down a modest 1.0 per cent.

In September, total reported sales were down 40.8 per cent from September 2021 and 39.3 per cent below the 10-year September average.

New listings were down 7.8 per cent from last September, while total listings were up 2.6 per cent from the same time, ending the month at 583 homes for sale (14.1 per cent below the 10-year September average).

For all property types, the September sales-to-active listings ratio was 7.2 per cent (the lowest level in over 2 years).

By property type, the September 2022 sales-to-active listing ratios were: 5.7 per cent for detached houses, 25.0 per cent for townhomes, and 10.0 per cent for apartments.

By price range, the September ratios were:

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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As always, we would be pleased to hear from you to answer any real estate questions, to assist you with your real estate needs, or just to say hello.  We can be reached at 604.983.2518, by completing the form on this page, or by appointment at our new office opening soon at 110 East 1st Street, North Vancouver.

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Past Listing & Sales STATS | September 2022

North Vancouver 

West Vancouver 

*Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: September 2022: 10 - September 2021: 20] -- [**West Van Townhome sales: September 2022: 4 - September 2021: 8]