Posted on
February 19, 2025
by
Theresa Veach
The real estate market in North Vancouver continues to be a hot topic among buyers, sellers, and investors. With its stunning natural surroundings, strong community atmosphere, and close proximity to downtown Vancouver, North Vancouver remains a highly desirable place to live. But what’s next for the local market? Let’s dive into the latest trends and predictions for 2025.
Current Market Trends
1. Home Prices Remain Strong
North Vancouver has seen steady price growth in recent years. As of January 2025, the median sold price for detached homes rose to $2,230,000, marking a 6% increase from December 2024. The average sold price also surged by 12% to $2,605,041, highlighting continued demand despite economic fluctuations.
2. Significant Increase in Listings
January 2025 saw a sharp rise in new listings, with 127 new detached home listings, a 370% increase from December 2024. This influx of inventory gives buyers more options but has not significantly reduced pricing pressures due to ongoing demand.
3. Market Conditions Favor Sellers
North Vancouver remains a seller’s market, with a sales-to-listing ratio of 22% and months of inventory (MOI) at 4.6. Homes are selling 97.6% of their list price, and the average days on market have dropped to just 8 days, down 60% from December.
4. The Shift Towards Condos & Townhouses
While detached home prices remain high, buyers are increasingly turning to condos and townhouses for affordability. Certain price ranges, such as $1.75M - $2.24M, remain highly competitive, with inventory levels indicating strong seller conditions.
5. High-Value Sales in Key Neighborhoods
January’s most expensive detached home sale occurred in Edgemont Village for $5,047,619, while the least expensive was in Lynn Valley for $1,600,000. Demand remains strong in sought-after neighborhoods like Canyon Heights (8 sales), Lynn Valley (5 sales), and Upper Lonsdale (5 sales).
Predictions for the Rest of 2025
1. Impact of Tariffs & Economic Uncertainty
A looming trade war between Canada and the US could impact economic growth, interest rates, and consumer confidence. As of February 2025, the US has given Canada until March 1st to negotiate a more permanent trade agreement to protect $1 trillion in annual bilateral trade. If tariffs are imposed, it could result in higher inflation, increased borrowing costs, and a weaker dollar, which may slow real estate activity.
2. Modest Price Growth Expected
Despite economic concerns, North Vancouver’s limited supply and desirability suggest that home prices will remain relatively stable with a 3-5% increase by year-end.
3. Continued Rezoning & Development Initiatives
The City of North Vancouver and District of North Vancouver are pushing for more multi-family housing and rental developments, which could help ease affordability concerns but may take years to impact pricing significantly.
4. Increased Resale & Pre-Sale Activity
According to the 2025 Rennie Outlook, Metro Vancouver’s real estate activity is expected to improve, with resale transactions rising to 50,000 sales—a 25% increase from 2024. Pre-sale activity is also forecasted to rise 25% year-over-year, though it will remain below the 10-year average.
5. Strong Demand for Lifestyle & Location
North Vancouver remains a prime destination for families, remote workers, and professionals, ensuring continued real estate demand in neighborhoods offering strong schools, outdoor amenities, and community connectivity.
What This Means for Buyers & Sellers
For Buyers: Competition remains strong, particularly in price segments under $2.5M. Acting fast and securing mortgage pre-approvals are essential. However, economic uncertainty from tariffs may impact borrowing conditions.
For Sellers: Properly priced and well-presented homes are selling quickly, often above the asking price. With higher resale activity predicted, 2025 remains a strong year for selling.
For Investors: Rental demand remains high, making North Vancouver a solid long-term investment opportunity, particularly in transit-accessible areas. However, the potential economic slowdown could impact short-term rental returns.
Final Thoughts
North Vancouver’s real estate market remains one of the most resilient in Metro Vancouver, thanks to strong demand, limited housing supply, and desirable lifestyle amenities. While rising interest rates and a potential trade war introduce uncertainty, the long-term outlook remains positive for homeowners and investors alike.
Thinking about buying or selling in North Vancouver? Let’s connect! With the right strategy, you can make the most of this dynamic mark.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.