North Vancouver Real Estate Market Update – February 2025

Balanced Conditions with Detached Homes Holding Strong and Condos Cooling

The North Vancouver real estate market saw mixed results in February 2025, with detached home sales and prices rising, while condos and townhomes showed signs of cooling demand. Inventory climbed across all property types, giving buyers more options but not yet triggering significant price corrections—except in the condo sector.

Let’s break down the latest numbers and market trends.

Key Market Stats for February 2025

Detached Homes

  • Total Active Listings: 229 (+13.9% YoY)
  • Sales: 48 (+14.3% YoY)
  • Days on Market Average: 35 (+75.0% YoY)
  • MLS® HPI Benchmark Price: $2,232,600 (+2.2% YoY)

Condos

  • Total Active Listings: 311 (+33.5% YoY)
  • Sales: 78 (-14.3% YoY)
  • Days on Market Average: 28 (+100.0% YoY)
  • MLS® HPI Benchmark Price: $804,100 (-0.8% YoY)

Townhomes

  • Total Active Listings: 104 (+38.7% YoY)
  • Sales: 21 (-19.2% YoY)
  • Days on Market Average: 16 (-36.0% YoY)
  • MLS® HPI Benchmark Price: $1,366,100 (+2.2% YoY)

Market Trends & Expert Insights

  • Detached Homes: Steady Demand with Modest Price Growth Detached homes in North Vancouver held up well in February. Sales climbed 14.3% year-over-year, outpacing the 13.9% increase in listings. Properties took longer to sell (35 days, +75% YoY), but pricing stayed resilient with a 2.2% annual price increase. Overall, this segment shows balanced conditions with stable demand.
  • Condos: Inventory Jump and Slowing Sales The condo market is showing signs of cooling. Active listings rose 33.5% YoY, but sales dropped 14.3%. Days on market doubled to 28 days, reflecting buyer hesitation. Prices edged down 0.8% YoY, signaling more negotiating power for buyers in this segment.
  • Townhomes: Slower Sales but Fast Turnover Townhome inventory surged 38.7% YoY, while sales declined 19.2%. Interestingly, homes that sold did so faster (16 days, down 36%). Prices rose 2.2% YoY, suggesting that desirable, well-priced townhomes are still moving quickly, but the broader pool is softening.
  • Sales-to-Active Ratio Insights:
    • Detached Homes: 21.0% (Balanced Market)
    • Condos: 25.1% (Balanced Market with softening demand)
    • Townhomes: 20.2% (Balanced Market)

What This Means for Buyers & Sellers

For Buyers:

  • Detached home buyers will find steady options but should act decisively on good properties—prices are holding.
  • Condo buyers have more room to negotiate as supply increases and prices soften.
  • Townhome buyers should watch for opportunities, though quality units are still moving quickly.

For Sellers:

  • Detached sellers remain in a good position but should prepare for longer days on market.
  • Condo sellers need to price aggressively as buyer caution increases.
  • Townhome sellers can still achieve good prices but must be mindful of growing inventory.

Final Thoughts

North Vancouver’s market remains relatively balanced, with detached homes showing strength while condos begin to soften under rising inventory. Townhomes are holding steady but showing early signs of shifting demand.

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