Q1 [Jan-March] 2024
North Shore home sales were inconsistent through the first quarter (Q1), with a stronger year-over-year Jan+Feb and lagging March. Consequently, there were modest changes from 2023, with Q1 sales up 5.2 per cent in North Vancouver and down 2.2 per cent in West Vancouver.
It appears that sellers are becoming more active bringing greater balance to the market. This is typical for the spring, although it is also likely influenced by some trying to time anticipated Bank of Canada interest rate cuts.
In North Vancouver there were 466 sales for the quarter and 927 new listings.
For March, total reported sales were down 12.2 per cent from 2023, and were 34.3 per cent below the 10-year March average.
New listings were down 8.4 per cent from last March, while total listings were up a modest 3.5 per cent, ending the month at 500 homes for sale (16.6 per cent below the 10-year March average).
For all property types, the March 2024 sales-to-active listing ratio was 37.0 per cent.
By property type, the March ratios were: 29.3 per cent for detached houses, 39.7 per cent for townhomes, and 42.2 per cent for apartments.
By price range, the March ratios were:
| < $750,000: | 53.7 per cent |
| $750k to $1M: | 39.3 per cent |
| $1M - $1.5M: | 41.9 per cent |
| $1.5M - $2M: | 36.3 per cent |
| $2M - $2.5M: | 50.0 per cent |
| $2.5M - $3M: | 22.5 per cent |
| > $3M: | 13.8 per cent |
In West Vancouver there were 131 sales for the quarter and 518 new listings.
For March, total reported sales were down 18.5 per cent from March 2023, and were 40.4 per cent below the 10-year March average.
New listings were up 17.9 per cent from last March, while total listings were up 16.7, ending the month at 539 homes for sale (just 1 per cent below the 10-year March average).
For all property types, the March sales-to-active listings ratio was 9.8 per cent.
By property type, the March 2024 sales-to-active listing ratios were: 9.2 per cent for detached houses, 5.9 per cent for townhomes, and 13.9 per cent for apartments.
By price range, the March ratios were:
| < $1M: | 14.8 per cent |
| $1M - $2M: | 11.5 per cent |
| $2M - $3M: | 20.4 per cent |
| $3M - $4M: | 6.5 per cent |
| $4M-$5M: | 3.6 per cent |
| $5M-$6M: | 6.8 per cent |
| >$6M | 6.4 per cent |
Sales.
Search all Q1 North Shore sales along with our entire database of sold homes (with sales posted as soon as they are reported sold):
North Vancouver Sales >> | West Vancouver Sales >>
As always, if you have any questions about the North or West Vancouver real estate market, or if we can assist you with a purchase or sale we'd be pleased to hear from you. We can be reached at 604.983.2518, via the form on this page, or by appointment at our office 110 East 1st Street, North Vancouver.
Enjoy our market reviews? Never miss an update. Subscribe at the link below.
Past Listing & Sales STATS | March 2024
North Vancouver
| Mar - 24 | Mar - 23 | % Chg | |
| New Listings | 326 | 356 | - 8.4 |
| Total Listings | 500 | 483 | + 3.5 |
| Sales | 187 | 213 | - 12.2 |
| Sales/Listings Ratio | 37.4 | 44% | - 15.2 |
| SP/Original LP | 99.1% | 99.0% | + 0.1 |
| Days on Market | 8 | 8 | -- |
| Median Sale Price | |||
| Condo | $827,500 | $800,000 | + 3.4 |
| Townhome | $1,415,450 | $1,387,500 | + 2.0 |
| House | $2,353,500 | $1,992,500 | + 18.1 |
West Vancouver
| Mar - 24 | Mar - 23 | % Chg | |
| New Listings | 184 | 156 | + 17.9 |
| Total Listings | 539 | 462 | + 16.7 |
| Sales | 53 | 65 | - 18.5 |
| Sales/Listings Ratio | 9.8% | 14.1% | - 30.5 |
| SP/Original LP | 94.4% | 95.5% | - 1.2 |
| Days on Market | 19 | 22 | - 13.6 |
| Median Sale Price | |||
| Condo | --* | $993,950 | n/a |
| Townhome | -- ** | -- ** | n/a |
| House | $2,895,000 | $2,780,000 | + 4.1 |
Note: Median sale prices not reported when there are less than 20 sales [*West Van condo sales: March 2024: 14 - March 2023: 22] - [**West Van Townhome sales: March 2024: 1 - March 2023: 1]