A Realtor with decades of experience selling homes on the North Shore says the current market is as slow as it’s ever been.
That’s especially true in West Vancouver, where the inventory of luxury homes has climbed to all-time highs, says Clara Hartree with Re/Max.
“I haven’t seen it this bad ever, and I’ve been in the business 39 years,” she said. “In North Van, I still see multiple offers in certain locations, if they are well priced. In West Van they are way more sluggish, and they are selling below assessed value ... probably 20 per cent below."
Local buyers often see better value in North Van because the prices are less eye-watering, but many people living on the North Shore will never be able to afford some of the high-end homes in West Van, she said.
“Investors are entirely out of the market. We are down to end-users only and locals because of the two-year ban [on foreign home ownership], which was extended in January,” Hartree said.
According to data from Metro Vancouver Realtors, regional sales in July slowed by two per cent compared to last year, and 13.9 per cent below the 10-year seasonal average.
In North Van, the detached home sales fell 6.8 per cent between May and July, compared to the same period in 2024, a year that was also historically very slow.
Over the same period in West Van/Howe Sound, the number of detached home sales inched up 1.8 per cent.
Meanwhile, the average price of a detached home has fallen 4 per cent over the past year in West Van (to $3.2 million) and dropped 4.4 per cent in North Van (to $2.2 million).
One sign of hope that Hartree has seen is more people going to open houses.
“I noticed more attendance to open houses, but absolutely no rush to buy anything … zero sense of urgency,” she said.
Like many others in the real estate industry, Hartree chalks up the lack of movement to uncertainty in the world markets – much of it caused by U.S. President Donald Trump.
To buyers, Hartree advises to get in on good deals now while interest rates are low.
“Right now we can negotiate way more than, say, in 2016 or 2017,” she said.
And for sellers, Hartree said to wait it out if at all possible.
“If it is your principal residence and it’s costing you nothing, why not wait?” she said.
But for investors or owners hoping to offload secondary properties, it’s time to go low as they can, “so that we find the price that will appeal to buyers,” Hartree said.
Here’s a list of the most and least expensive North Shore homes to sell in June and July.
Most expensive detached home
The most expensive home to sell on the North Shore over the past two months is the modern monster mansion at 1112 Gilston Rd. in West Vancouver.
It was sold by Angell, Hasman & Associates on July 5 for $9.1 million, after sitting on the market for 89 days and a steep price drop from its asking price of $10.98 million. It was first listed in June 2024 for $13.45 million before coming off the market until this year.
The Homes by Valentino-designed property features 8,688 feet of extravagant living space. The six-bedroom, 10-bathroom structure is spread across three floors. Highlights include an elevator, indoor spa with steam shower and dry sauna, temperature-controlled wine room with adjoining wet bar, billiard room, resort-style swimming pool, putting green and three-car garage.
Least expensive detached home
On the other end of the spectrum, the least expensive detached home on the North Shore to sell is the blue rancher at 1202 Pinewood Cr. in North Van.
It was sold for $1.2 million on June 9 by Engel & Volkers, after 28 days on the market and for $99,000 under asking.
The structure itself was marketed as a tear-down, with the property’s value nearly all attributed to the land. The 0.14-acre lot “offers a rare opportunity to craft your dream home” in the up-and-coming Norgate neighbourhood, according to the listing.
Special mention goes to the floating home at 4-1681 Columbia St., which was sold by The Agency Vancouver for $263,975 on June 2. The two-bedroom, two-bathroom, 1,274-square-foot home comes with a monthly moorage fee of $1,553.
Most expensive apartment
The highest-priced apartment to recently sell is the lofty unit at 1002-2289 Bellevue Ave., which was sold by Re/Max Crest Realty on June 2 for $7.2 million.
Perched in the sought-after Bellevue by Cressy building, the two-bedroom, three-bathroom apartment sold for $500,000 under asking after less than two weeks on the market.
The southwest corner residence comes with panoramic ocean views, which can also be enjoyed from the 417-square-foot covered balcony. The 2,493-square-foot unit has two large bedrooms both with ensuite bathrooms. Amenities include an indoor pool, concierge and four-car private garage.
Least expensive apartment
The thriftiest property to sell on the North Shore is the apartment at 1102-2008 Fullerton Ave. in North Van.
It was sold for $380,000 by Royal LePage Sussex on July 10, after 87 days on the market and $60,000 shaved off the original asking price. The 585-square-foot unit has one bedroom and one bathroom.
Most expensive townhome
The top townhome to sell is the luxurious residence at 796 Arthur Erickson Place, near Park Royal in West Van.
It was sold by Engels & Volkers for $3.02 million on June 9, after 117 days on the market and $130,000 below asking. The 2,410-square-foot townhome has four bedrooms and three bathrooms, with automated lighting and blinds, as well as a built-in speaker system.
Least expensive townhome
The 1,495-square-foot unit at 613 Westview Cr. was the least expensive townhome to sell.
It went for $770,000 on June 2, with the seller represented by Re/Max Crest Realty. The three-bedroom, three-bathroom home was on the market for just nine days, and was sold for $19,000 under asking.
This townhome is part of the Cypress Gardens complex. A group of owners are asking the city to upzone the property in hopes of raising the land value. Previous attempts to sell the complex to developers have been contested, and have failed in court.
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