MARKET UPDATE

Vancouver, North Van & West Van Real Estate – May 2025 Update

Thinking of buying a home this May?

You might be in luck — especially if you've got patience, a sense of humour, and maybe a spreadsheet. Across Vancouver, North Vancouver, and West Vancouver, buyers are gaining the upper hand. In Vancouver proper, the market has tilted in your favour with a sales-to-new-listings ratio around 32%. Translation? More homes to choose from, and less chance you’ll end up in a bidding war that feels like The Hunger Games. Average prices? Detached homes sit around $2 million, townhomes hover at $1.2 million, and condos are going for about $805,000. Not exactly dollar-store pricing, but at least you're not racing ten other buyers to get in the door.

North Vancouver is that cool, collected middle child — not too hot, not too cold. It’s a balanced market, meaning both buyers and sellers can play nice (in theory). Detached homes average $2.4 million, townhomes about $1.4 million, and condos $835,000. Homes here are sticking around a little longer — 24 to 30 days — giving buyers time to think things over instead of making an offer between red lights.

And then there’s West Vancouver — still the land of breathtaking views, ocean air, and “starter homes” at $3.99 million. Detached homes may have luxury price tags, but the market is soft, with homes sitting for 36 to 56 days. Townhomes average $2.16 million, and condos about $1.4 million. It's officially a buyer’s market, which means if you've got the budget (and maybe a yacht to park), you’ve got options and bargaining power.

For those thinking about making the leap to the West Coast — whether you're craving a lifestyle change, retirement, or simply escaping brutal winters for milder ocean breezes — this might just be the right moment. With more inventory, softer prices, and more time to make thoughtful decisions, buyers can take advantage of a rare window of opportunity in some of Canada’s most desirable (and scenic) neighbourhoods. And hey, trading snow tires for paddleboards doesn’t sound too bad, does it?

Keep in mind that a Buyers Market doesn’t always mean lower prices and May activity is already picking up!
April 2025 stats- Buyers now have more selection and room to negotiate, but well-priced homes are still moving quickly and attracting interest.
Strategy and timing are key in this evolving market. Want to know what’s really happening in your neighborhood?

Let’s connect and get the conversation started!
+1 778-840-3357 / catherine@catherinemccourtrealty.com

Happy House Shopping!

Stat sources: WOWA.ca, RealEstateNorthShore.com/statspage, powered by AI.