There’s the sense of a “push-pull” effect felt among North Shore real estate agents, as buyers and sellers continue a relative stalemate in the market.
There’s a bit of a softening between buyers and sellers in some cases, but a gap generally remains between sellers’ expectations and buyers’ real-life affordability, says Elliott Chun, Realtor and partner with The Partners Real Estate.
“There are some houses that are moving quickly, that are priced well and sharply and what people perceive as fair-market value. [But] some things are sticking around a little longer,” he said.
That tug of war is causing some confusion in the marketplace, Chun said.
“Some days you may feel like, ‘Hey, the market’s moving. We’ve got tons of showings, or we’ve just received multiple offers on our property.’ And then other days, you’re looking at each other in the office, saying, ‘How come we’re all in the office? And how come we’re not out there in the field, to do what we need to do to sell?’” he said.
The latest market report from Metro Vancouver Realtors says conditions overall suggest that “a market made for buyers is missing buyers.”
While listings continue to pour onto the market, regional sales are down 13.4 per cent over the same period last year, and 36.8 per cent below the 10-year seasonal average.
Despite economic uncertainties tied to the U.S. government, the report notes that other factors such as easing prices and low mortgage rates are favouring buyers.
Looking to the North Shore, sales have been relatively flat in North Vancouver, with detached home sales up 11 per cent, and apartments down four per cent from January to March 2025 over the same period last year.
West Van-Howe Sound sales have been more sluggish, with detached home sales down 21.7 per cent and apartments down 15.6 per cent, according to MVR data.
The benchmark price for an average North Van home has fallen 0.4 per cent over the past year, and dropped by 3.2 per cent in West Van.
Chun said it’s a great time for buyers to get in the market, “and sellers to sharpen their pencils too, when it comes to trying to broker a deal.”
He added that off-market opportunities are becoming a bit of a trend, like the home at 2617 Woodbine Dr. in North Van. After sitting at an asking price of $4.998 million, it came off the market at the beginning of January.
But a buyer who had been watching the home put in an offer, and the home sold off-market in March for $4.925 million.
Chun also noted the deals that can come from court-ordered sales, which usually happen after a home is seized by a bank. Currently, 1640 11th St. in West Van is being sold by Royal Bank of Canada. The asking price is $1.55 million, with an offer of $1.44 million currently accepted by the bank.
But that could change. Other potential buyers can put bids on the home ahead of the April 10 court date.
“Court ordered sales get competitive,” he said.
Here are the most and least expensive homes to sell on the North Shore over the past two months.
Most expensive detached home
The most expensive detached home to sell is a 6,900-square-foot waterfront mansion at 4580 Marine Drive in West Van. After being listed at $9.98 million, it sold Feb. 12 for $9.3 million by Royal LePage Sussex after 22 days on the market.
The property has been listed and delisted numerous times over the past several years. After a new home was built on the lot in 2018, it first went up for sale at $16.58 million. It’s since come down in price several times, most recently in January 2024 for $10.59 million.
Marketed as a “masterpiece of modern luxury,” the gated third-of-an-acre lot boasts a five-bedroom, seven-bathroom home with stunning ocean views from most of its windows. The custom home’s exterior features an infinity pool with a built-in hot tub overlooking Burrard Inlet.
Least expensive detached home
At $1.35 million, a 792-square-foot rancher in North Van was the least-expensive to recently sell. The property at 1781 Bowser Ave. sold March 9 at $50,000 under the asking price.
The two-bedroom, one-bathroom home built in 1950 sits in the Pemberton neighbourhood. It was also sold by Royal LePage Sussex.
Most expensive apartment
The most expensive apartment to sell on the North Shore is a 1,973-square-foot unit in West Vancouver. Located near McDonald Creek Park, the home at 101-2274 Folkestone Way sold for $1.92 million on March 5, after two days on the market, at $23,000 under asking.
Built in 1986, the two-bedroom, two-bathroom home looks with an unobstructed view over Burrard Inlet and Point Grey. Both bathrooms were recently renovated, and there’s 544 square feet of outdoor space.
Least expensive apartment(s)
Two Lonsdale apartments sold in North Vancouver recently – both for $420,000.
The first, at 106-155 Fifth St., sold on March 27 after 47 days on the market. The 675-square-foot, one-bedroom, one-bathroom home was built in 1968. This apartment is owned through shares in a housing co-operative.
For the same price, the two-bedroom one-bathroom unit at 201-145 18th St. sold March 26 after 39 days on the market. This apartment is also owned via co-op shares, and was built in 1970.
Most expensive townhome
The most expensive townhome is a three-storey half duplex in the Whitby Estates community of West Van. The property at 2761 Highview Place went for $3.9 million on March 5, after 15 days on the market. Sutton Group-West Coast Realty sold the property, with $98,000 off the listed price tag.
Built in 2014, the 3,773-square-foot luxury unit hosts three bedrooms and four bathrooms. Inside the home is a double garage and high-end appliances.
Least expensive townhome
A two-bedroom, one-bathroom unit in Lynn Valley was the least expensive townhome to sell. The 896-square-foot, ground-level home at 10-1073 Lynn Valley Rd. sold for $830,000 on Feb. 4 after just five days on the market, and $5,000 under asking.
Sold by Oakwyn Realty Ltd., the unit has granite counter tops, stainless steel appliances, vinyl flooring throughout and a gas fireplace.
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