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.