Single-Family Homes
Sales of single-family homes in North Vancouver during September 2022 rose 25% compared to August. The sale to list price ratio also increased slightly, with days on market declining by 57%. This means homes are selling faster in North Vancouver, though the reasoning is not entirely clear. It is, however, likely the pricing for homes have made them more attractive to potential homebuyers.
The most active price band for homes was $1.5M to $2M, which also accounted for more than 50% of home sales in September. Additionally, more than 90% of single-family homes sold last month have 3 or more bedrooms, with only four homes selling with 2 bedrooms or less. There are still many detached homes with 3 or more bedrooms available in North Vancouver, especially as inventory increased 16% over last month.
Lynn Valley’s detached homes sold at a 41% sales ratio last month. This area surrounds Lynn Valley Centre and the nearby commercial hub which contains it. Outside of the neighbourhood, the close proximity to nature will make this neighbourhood great for avid hikers and those brave Grouse Grinders. See available listings for single-family homes in Lynn Valley.
Aside from being immersed in the verdant nature of North Vancouver, this mountainside community near the Capilano Canyon, is close to Edgemont Village. It is also near Handsworth Secondary School, which is one of North Vancouver’s most respected schools. View Canyon Heights homes for sale.
Where Lower & Central Lonsdale are hubs for condos & townhomes, Upper Lonsdale sold 22% of its available homes in September. While this neighbourhood has its share of multi-unit residential, there’s a considerable amount of detached, single-family homes too. This area is also home to schools, community centres and parks. Consider detached homes in Upper Lonsdale.
Condos & Townhomes
After August’s 37% dip in condo and townhome sales in North Van, the market for attached homes seems to have stabilized a bit after only suffering a 3% drop in September. That 3% drop translates to 2 less sales month-to-month. Plus the days on market have shedded almost a week to an average of being on the market for 12 days before sale. Finally, the sale to list price ratio is 98%, having gone up 1%.
Where does this put buyers of condos & townhomes in North Vancouver?
The most active price bands for North Vancouver condos & townhomes continues to be $400,000 to $700,000. If you’ve read a few of these market updates, the $400,000 mark appears to be a solid starting point for condos in the District & City. Take a look at the condos available for sale between $400K to $700K.
Also, condos priced between $1M to $1.5M had noticeable activity as well. Condos starting right at the cusp of $1,000,000 have been a featured price band for North Vancouver in recent months. View MLS® listings for North Vancouver condos priced from $1,000,000 to $1,500,000.
Breaking down the stats further, the highest number of condos sold in North Vancouver were for 2-bedroom condos and townhomes at 35 sales (less than 50% in total).
As usual, Central Lonsdale & Lower Lonsdale had the most sales of condos and townhomes last month. No surprise. In North Vancouver, there are many streets branching off Lonsdale Avenue where you see townhomes, condos and apartments. It makes sense that these two neighbourhoods, being so built up and developed within the City of North Vancouver, would continually account for the majority of condo & townhouse sales.
Another area of North Vancouver, the Pemberton neighbourhood, also led the attached home market in September. While some may be unfamiliar with the Pemberton neighbourhood, its new anchor is easily recognizable to anyone crossing the Lions Gate Bridge. The aptly named Lions Gate Village is a collection of condo and townhome buildings in the Pemberton neighbourhood, located alongside the Capilano River. Check out what condos are available in this growing neighbourhood.
Recommended: Read about North Vancouver’s real estate market performance & trends in August 2022.
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