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North Vancouver vs. West Vancouver Real Estate Market Comparison-October 2023:

Key Datasets:

  • North Vancouver (VNV):

    • MLS® HPI Price: $1,392,300 (October 2023)

    • Sales: 194 (October 2023)

    • Total Inventory: 606 (October 2023)

    • Sales to Active Ratio: 32% (October 2023)

  • West Vancouver (VWV):

    • MLS® HPI Price: $2,658,100 (October 2023)

    • Sales: 53 (October 2023)

    • Total Inventory: 593 (October 2023)

    • Sales to Active Ratio: 9% (October 2023)

Comparative Analysis:

  • Price Changes:

    • Over the past year, North Vancouver's MLS® HPI Price increased by approximately 4.5%, while West Vancouver saw a rise of around 3.4%.

    • In the last five years, North Vancouver's home prices surged by about 48%, whereas West Vancouver experienced an increase of approximately 38%.

  • Sales and Inventory Changes:

    • In North Vancouver, the number of sales increased by 47% over the last year, with a 9% decrease in total inventory.

    • West Vancouver saw a decrease of 11% in sales and a 7% decrease in total inventory over the same period.

  • Sales to Active Ratio:

    • North Vancouver has a Sales to Active Ratio of 32%, categorizing it as a seller's market.

    • West Vancouver, with a Sales to Active Ratio of 9%, is considered to have a balanced market.

Percentage Changes (1 Year Ago, 5 Years Ago, and 10 Years Ago):

  • North Vancouver:

    • 1 Year Ago (October 2022):

      • MLS® HPI Price: +4.5%

      • Sales: +47%

      • Total Inventory: -9%

    • 5 Years Ago (October 2018):

      • MLS® HPI Price: +48%

      • Sales: +78%

      • Total Inventory: -18%

    • 10 Years Ago (October 2013):

      • MLS® HPI Price: +106%

      • Sales: +83%

      • Total Inventory: +28%

  • West Vancouver:

    • 1 Year Ago (October 2022):

      • MLS® HPI Price: +3.4%

      • Sales: -11%

      • Total Inventory: -7%

    • 5 Years Ago (October 2018):

      • MLS® HPI Price: +38%

      • Sales: +16%

      • Total Inventory: -23%

    • 10 Years Ago (October 2013):

      • MLS® HPI Price: +50%

      • Sales: -51%

      • Total Inventory: -23%

Market Condition Analysis:

  • North Vancouver is currently in a seller's market, indicating high demand and low supply. In contrast, West Vancouver's market is more balanced.

  • Both areas have experienced significant price growth over the past decade, with North Vancouver leading in percentage increases.

  • The Sales to Active Ratio in North Vancouver suggests a competitive market, while West Vancouver's ratio indicates a more stable environment. The most recent month's data in both areas appears typical of their recent trends, aligning with the broader market conditions observed over the past year.

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