The Real Estate Board of Greater Vancouver is the agency responsible for compiling and publishing the data for the West and North Vancouver condo price history charts. This data includes active listings, average sale prices, and days on market. This data is provided “as is,” and the board makes no warranties or guarantees about its accuracy. The data on this page should not be construed as a definitive reference for real estate data. We urge you to use this chart with caution.
West Vancouver condo prices have risen steadily since 1981
Real estate in West Vancouver has risen at a steady pace over the past 35 years. Prices have increased by approximately 80% in that time, with the median price in the city now sitting at around $1,420,000. The Vancouver real estate market was in a period of strong in-migration and direct foreign investment. Rising prices in Vancouver have helped push many middle-class buyers out of the province. Meanwhile, prices in neighboring cities like Toronto have increased at a faster rate than in other regions. Some of this may be a ripple effect of Toronto’s prices. Maritime and Quebec have seen slower economic growth than the rest of Canada.
The housing market in Metro Vancouver remains undersupplied. Demand for homes has outpaced supply, and prices are rising. Currently, the ratio of sales to listings is 50.8 per cent. Although this may seem high, it indicates that housing prices are continuing their upward trends. As of February 2022, the benchmark price for a detached home in West Vancouver was $1,313,400. This represents a 20.7 per cent increase over the same period in 2021 and 49.8 percent higher than January 2022.
North Vancouver condo prices rose 2.9% during the pandemic
As a result of the ongoing pandemic, Vancouver’s housing market has had a slight increase, while the rest of the province had seen a fall. Across the province, benchmark prices rose 2.9% during the pandemic to $1073,200, with a decline of 1% to $2108,000 in December. But that didn’t mean that there wasn’t a strong market, as Vancouver had experienced strong price growth for years before the pandemic.
The market remains strong in Metro Vancouver, with February 2021 home sales reaching a high of 43% higher than the ten-year average. The Real Estate Board of Greater Vancouver reported 3,727 new listings in February 2021, a significant increase from the same period last year and January. This is a result of tight inventory and increased competition among buyers. The townhouse market is especially strong, with demand far outstripping available supply.
The market is expected to remain strong throughout the rest of the year, thanks to a number of factors. For example, foreigners can buy property in Canada. Meanwhile, real estate sales in Canada have increased significantly. As a result, the value of a North Vancouver condo in December 2020 will be nearly 47% higher than it was in December 2012.
Metro Vancouver condo prices are currently $1,313,400
The median selling price for a condo in West Vancouver is $1,313,400. This is about 4% higher than the national median. This is reflective of a number of factors, including the number of condo units in the market, the location, the number of available condos, and more. In fact, the price of a condo in West Vancouver is now higher than it was one year ago, when it was $1,313,000.
In Metro Vancouver, the benchmark price of a detached property increased 25.7% year-over-year in February. This is largely due to a lack of supply. Sales of detached homes declined by 18% in February 2021. As of January 2022, benchmark detached-property prices are $2,044,800 – up nearly 25% from the same period last year. This trend continues despite the recent drop in housing inventory.
In Metro Vancouver, detached home and townhouse prices have increased, but prices of condos and apartments decreased by 0.3% month-over-month. Compared to May 2017, benchmark prices for detached homes in Metro Vancouver rose 15% year-over-year and 0.3% month-over-month. Overall, home prices in Metro Vancouver are up 15.5% year-over-year. This is still well below the $1,300k mark, but is still much higher than last month’s record high.
Home prices continue to rise in Metro Vancouver, with the median price of a detached house in West Vancouver at $3,475,600. Meanwhile, detached home prices increased by five percent from April and six percent from May last year. A typical detached home in West Vancouver will cost approximately $3,490,600 in May 2022. The ratio of sales to listings is 49.8%, which is above the national average for detached homes.
West Vancouver condos recently sold for under $500,000.
For those looking to buy a condo, West Vancouver is the place to be. The area has a unique appeal and boasts a diverse real estate market. The area is also home to the West Vancouver Sea Wall and Cypress Mountain Ski Area. West Vancouver is also home to the Horseshoe Bay Ferry Terminal, which connects Vancouver Island and British Columbia. And, of course, its real estate market is the biggest in the province. Condos in West Vancouver come with excellent amenities, including water front, swimming locations, fireplaces, spas, and other great features.
The low price of West Vancouver condos recently sold for under $500k is a reflection of the area’s attractiveness to foreign buyers. The city is a popular tourist destination, and its booming real estate market means that the number of condos for sale in West Vancouver is increasing every year. Listings are available for all types of West Vancouver properties, including luxury condos. For more information, visit the real estate board of Vancouver website.
For those looking for a larger home, you may consider a suburban area. Here, single-family detached homes are the norm. These houses are great for families that want a backyard, while many have basement suites that can be rented out. In addition, the skytrain line has led to a plethora of new homes in this region. A few of the smaller West Vancouver condos recently sold for under $500k are available in these communities.
While a higher price reflects a higher demand, prices for West Vancouver condos are still well below average. With a median sale price of $4,988,000, West Vancouver homes sell for 95.9% of their listing price. And, the average listing price of a detached house is now $2,880,000. But, there are many more condos available in West Vancouver than there were last year.
Among many other things, David A. Grantham is a contributing author to UmassExtension West Vancouver Blo. He is a renowned expert on real estate in BC.
Born in North Vancouver, Louisiana, Dr. Grantham grew up in Lower Lonsdale. He then went on to complete his business degree at the University British Columbia. As of this writing, Grantham has completed over 100 projects, including the development of a high rise building in Vancouver.
He is a husband, father, son, brother, and friend. He was a dedicated outdoorsman and enjoyed sports such as hunting, fishing, scuba diving, and snow skiing. His wife, Alison Grantham, and their two daughters survived him. He is survived by his wife Alison Martin Grantham and two daughters.