Greater Vancouver Real Estate Update – Last 60 Days: Timing and Missed Opportunity

The Greater Vancouver real estate market continues to present an interesting mix of challenges and opportunities.

Sales activity has been unusually slow, prices have come down from earlier highs, and buyers are taking more time to make decisions. Yet homes are still selling, and people are still making moves.

What I've noticed over the past 60 days is that more of the conversations are about timing, not just price.

Some buyers are finding opportunities that weren't available a few years ago. Some homeowners are choosing to sell because their lives have changed. Others are deciding that waiting for the market to return to its previous highs is no longer worth putting their plans on hold.

These are important differences, particularly when looking at North Vancouver and West Vancouver.

Insights for Buyers

Today's Prices Are Creating Opportunities

One recent sale in West Vancouver's British Properties caught my attention. A house on Chartwell sold for approximately $3.6 million. That's about $300,000 below its asking price and roughly $900,000 less than the owners paid in 2019. Its BC Assessment was approximately $4.5 million. This is one property, not a measure of the entire market, but it shows how much pricing can change. For buyers looking to move into a larger home or a more expensive neighbourhood, these changes can create opportunities.

There is also an important difference between buying your first home and moving up. Someone selling a $1.5 million property to purchase a $2.5 million property may benefit if the more expensive home has fallen further in dollar terms. Even if their current home is worth less than it was a few years ago, the difference between the two properties may now be more manageable. That doesn't mean every move-up purchase makes financial sense, but it does mean buyers should look at both sides of the transaction rather than focusing only on what their current property used to be worth.

Insights for Sellers

Sometimes Life Is More Important Than the Market

I recently spoke with someone who had planned to sell a couple of properties and retire. That was their five-year plan about ten years ago. But the market didn't move in the direction they expected, so they kept waiting. Now, ten years later, they're tired of waiting and want to get on with their life. That conversation reflects something I've been hearing from homeowners: they aren't necessarily selling because they think it's the perfect market. They're selling because they're ready to retire, downsize, relocate, or make a change.

That doesn't mean price is no longer important. It means price is only one part of the decision. Some homeowners have substantial equity, even though their properties may be worth less than they were several years ago. For them, the question is no longer simply, "Can I get the price I could have received before?" It's also, "How much longer do I want to wait?" Selling today may allow them to purchase their next home in the same lower-priced market. The important thing is to understand the numbers, compare the options, and make a decision that supports their plans.

Market Outlook

Low Sales, Different Inventory Conditions

North Vancouver's 2026 sales activity was ranked 16th out of the last 16 years in the market figures reviewed, making it the slowest of those years. West Vancouver ranked 13th out of 16. Yet inventory tells a different story. North Vancouver detached listings were down year over year, while West Vancouver detached inventory was below 500 listings, a relatively low level. North Vancouver attached inventory, meanwhile, was up year over year. This is why I believe buyers and sellers need to look at the type of property and the local competition rather than relying on one Greater Vancouver headline.

Interest rates are another factor. The October 28 Bank of Canada announcement reported a 0.25 percentage-point increase in its policy rate, with major-bank prime rates reaching approximately 4.70%, according to the mortgage update reviewed. Borrowing costs remain below their 2023 peak, but buyers should not assume rates will keep falling. A mortgage rate hold may be worth discussing with a lender while shopping. Looking ahead, financing costs, available homes, and realistic pricing will continue to influence decisions.

The Bottom Line

The biggest lesson from the past 60 days is that waiting for the perfect market can come with a cost of its own.

For some buyers, today's prices may make a move possible that was out of reach a few years ago. For some sellers, the opportunity is not about getting the highest price in history. It's about being able to retire, downsize, move closer to family, or simply get on with life.

The right decision depends on your property, your finances, and what you want to do next.

If you're thinking of buying or selling in the next 6–12 months, what you do right now could save you thousands of dollars.

Thinking of selling in the next 6–12 months?
My FREE Get Top Dollar Fast Guide tells you what you need to know.
Click here

Thinking of downsizing in North or West Vancouver in the next 6–12 months?
My FREE North Shore Downsizing Guide helps you plan when, where, and how to make your move.
Click here

Or contact me directly to discuss your plans and the opportunities in North Vancouver, West Vancouver, or the Greater Vancouver market.

Davis Kosowan | REALTOR®
Oakwyn Realty
www.davisk.ca

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