Once again, real estate markets on the North Shore are in a “wait and see” mode heading into the holiday season as buyers hold their breath on potential interest rate changes.
Sales are still happening, especially in North Vancouver. “North Vancouver is actually quite active,” said Navid Hakimi, a West Vancouver real estate agent with Re/Max Masters.
But sales in both North Vancouver and West Vancouver are still below historical averages, as buyers keep their powder dry amid high interest rates.
What happens next on interest rates is on everyone’s mind, said Hakimi.
Buyers want to purchase at the bottom of the market, he said, but “no one knows when that will be.”
So far, prices on the North Shore have remained stubbornly high, with a median single-family home in North Vancouver selling for $2.1 million in November – up over both October and last November, according to statistics from the Real Estate Board of Greater Vancouver. Prices for median apartments were down a bit – at $770,000. In West Vancouver, a median single-family home sold for just under $3 million in November.
The British Properties remained a popular areas for buyers in West Vancouver while Lynn Valley, Upper Lonsdale and Grand Boulevard were favoured in North Vancouver. Apartment seekers favoured both lower and central Lonsdale areas.
Here are some of the most and least expensive homes to sell over the past two months on the North Shore:
Most expensive detached home
The biggest sale of the year so far took on the North Shore Sept. 30, when a 14-year-old Altamont mansion of over 13,000 square feet at 2960 Palmerston Ave. sold for $16.98 million. Boasting almost 4,300 square feet of living space on the main level, the eight-bedroom, 11-bathroom home has plenty of room for entertaining and features vaulted ceilings, a hot tub, wine cooler, gym, media room and six fireplaces. There’s also a swimming pool, gated entrance and a five-car garage.
The home, which sits on almost an acre of flat land, sold just four days after listing.
Most expensive townhouse
The most expensive townhouse to sell in the past two months was a three-storey four-bedroom five-bathroom half duplex in central Lonsdale at 354 14th Street West.
The three-storey four-bedroom five-bathroom half-duplex sold for $2.65 million Nov. 6 after 17 days on the market.
Situated on a quiet block, the over 2,800-square-foot home features an open-concept living area with over height ceilings and a kitchen with high-end appliances. Upstairs there are three spacious bedrooms and a private covered rooftop patio. Downstairs has a rec room plus a bright legal one-bedroom suite with separate entrance/patio. The duplex is new, built in 2023.
Most expensive apartment
The most expensive apartment to sell on the North Shore in the past two months was a waterfront apartment in the iconic five-year-old Grosvenor building on Ambleside’s Bellevue Avenue.
The second-floor two-bedroom three-bathroom unit sold Oct. 30 for $4.55 million. Generous-sized rooms include a massive walk-in closet and master bedroom ensuite. The over 2,300-square-foot apartment comes with an over 300 square-foot covered deck and extra-large garage with two EV chargers.
Most inexpensive detached home
The most inexpensive single-family detached home to sell on the North Shore in the past two months is a three-bedroom two-bathroom classic built in 1949. The almost 2,600-square-foot home at 3994 Mount Seymour Parkway sold for $1.45 million on Nov. 16 after 15 days on the market. The home features a renovated kitchen, high-efficiency furnace and ample storage with a workshop and shed. The property features a double carport and private backyard with custom fireplace. Perfect for an outdoor loving family.
Most inexpensive townhouse
Small but mighty! The most inexpensive townhouse to sell recently on the North Shore is a ground-level bachelor studio at 1-7 – 735 West 15th Street in North Vancouver’s Mosquito Creek neighbourhood. The 11-year-old 450-square-foot townhouse sold Sept. 29 for $525,000 after 21 days on the market.
The townhouse features cleverly designed built-ins that provide ample storage while keeping the space clutter-free. The sleeping area is also thoughtfully separated, creating a cozy and private sanctuary. One feature of this townhome is the generously sized patio. Perfect for hosting a BBQ or unwinding with a glass of wine.
Most inexpensive apartment
The most inexpensive apartment to sell on the North Shore was a north-facing studio apartment in Woodcroft Estates at 1204 – 2012 Fullerton Ave. Partial updates include kitchen and bathroom upgrades and laminate flooring. The 486-square-foot apartment, built in 1977, sold Nov. 24 for $390,000 after eight days on the market.