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The local real estate market traditionally gets active in the spring.
And this year, real estate sales on the North Shore are again showing signs of life after a cool, sluggish winter. Granted, it’s been a slower start than usual.
The rainy season that took up most of April didn’t help, said Realtor Lionel Lorence of Re/Max Realty, as buyers don’t enjoy sloshing through the rain to open houses. Properties where views are selling points also don’t get seen in their best light though a bank of grey cloud.
Whether recent interest from buyers bears fruit in the months ahead, however, is being impacted by everything from interest rates hikes to continued low inventory in the market.
In some cases, low inventory has resulted in multiple bids and buyers coming “cheque in hand” with no subjects to get the property they want, said Judy Killeen, a longtime North Vancouver real estate agent with Sutton Group-West Coast Realty.
But the huge costs of financing and meeting mortgage stress tests has also made a lot of buyers cautious, she said.
Sales, prices both edge up in March, April
According to the Real Estate Board of Greater Vancouver, sales edged up in March and again in April in both North Vancouver and West Vancouver but remained significantly lower than the same time last year – when buyers had yet to feel the squeeze of interest rate hikes. With limited options to choose from, however, prices remained high, with a median selling price of a detached house in North Vancouver hitting $2.1 million in April – up from just under $2 million in March. Recent hotspots for detached homes in North Vancouver included Edgemont Village, Lynn Valley, Westlynn and Upper Lonsdale, according to Zealty.ca. A median price for an apartment in North Vancouver was $786,000 in April, with Lower and Central Lonsdale the favoured neighbourhoods. Both were selling after about seven or eight days on the market.
Sales in West Vancouver also edged up, along with prices. A detached home in West Vancouver sold for a median price of $3.5 million in April, with Dundarave and Eagle Harbour the hottest spots for sales. Apartments went for a median price of $1.45 million, with Ambleside and Dundarave the favoured neighbourhoods.
Here’s a look at some of the most and least expensive homes to sell on the North Shore in March and April.
Most expensive detached house
When you’re hot, you’re hot. A stunning three-storey, four-year-old mansion at 815 King George’s Way in the British Properties was the most expensive detached house to be sold on the North Shore in the past two months. The home, located on a 0.44-acre corner lot at King Georges and Farmleigh Road, sold for just under $14.7 million dollars after just one day on the market. The house boasts five bedrooms, eight bathrooms, and just over 9,000 square feet of living space along with unobstructed views of the city, bridge, ocean, Stanley Park and beyond. A flat heated driveway, waterfall features front and back, (said to bring good fortune), Italian chandeliers, and Tesla back-up battery are among the features of the home, along with a temperature-controlled wine cellar, office, gym and home theatre. Outside, landscaping features California palm trees along with a private putting green.
The property was last assessed at about $10 million and last sold for $4.6 million in September 2015.
Most expensive townhouse
The most expensive townhouse to sell in the past two months was a three-storey half-duplex at 2755 Highview Place in the exclusive Ashton Hill development in British Properties’ Whitby Estates. The townhouse sold for $4.1 million on April 22 after being on the market for eight days. The eight-year-old townhouse contains 3,800 square feet of living space including three bedrooms and four bathrooms. Floor-to-ceiling windows throughout the property allow natural light to pour in while the main living areas offer spectacular views of the city, Stanley Park, the ocean, and Vancouver Island. The townhouse was assessed at $3.9 million in 2022 and last sold for $3.9 million in 2016.
Most expensive apartment:
The most expensive apartment to sell on the North Shore in March and April is still under construction, but went for just under $3 million on March 25 after 14 days on the market. When it’s completed, the three-bedroom, four-bathroom condo at #2406 - 1500 Fern Street will offer a bird’s-eye view of the city and beyond along with luxurious details in Seylynn’s “Apex” building. The 1800-square-foot apartment features lofted 18-foot ceilings, floor-to-ceiling windows, wine fridge, and heated tile floors in the bathroom and laundry. Those with a penchant for luxury loos will also appreciate the unit’s wall-mounted toilet. Other building amenities include a 25-metre infinity edge pool, hot tub, steam room, sauna, gym, and party room.
Least expensive detached house
The least expensive detached house to sell on the North Shore in March and April is at 2052 Capilano Road in North Vancouver. The two-storey, 1500-square foot 83-year-old house has three bedrooms and two bathrooms. It sold for just under $1.27 million on March 13, above the asking price, only eight days after being listed on the market. The home is full of “woodsy” character, nestled next to a green space and surrounded by trees. Bonus for families: the property is in the Capilano IB Elementary catchment area, with walking trails on the Capilano River located nearby. The home was last assessed at $1.17 million in July 2022.
Least expensive townhouse
The cheapest townhouse to sell in March and April listed on the North Shore was snapped up on the very same day it was listed. The townhouse at #73 - 728 W 14th Street, in North Vancouver’s NOMA community near Mosquito Creek sold for $557,000 on March 30. This one-storey ground level 16-year-old 586-square-foot townhouse features one bedroom, and one bathroom. But visitors can make use of a Murphy bed that folds down into the apartment’s open living room design. The building features an interior courtyard and a gym, as well as a small play area for children. One dog or one cat is allowed, and EV charging is also available.
Least expensive apartment
The least expensive apartment to sell in March and April on the North Shore was #101 - 212 Forbes Avenue in North Vancouver’s 46-year-old Forbes Manor, a short walk to Lower Lonsdale. This one-bedroom, one-bathroom 500-square-foot unit sold for $415,000 on March 30, after being on the market for 16 days. This second-floor unit offers plenty of south-west sun with some city/harbour views. Its efficient floor plan features French doors off the dining room to the kitchen and a living room that opens to a spacious balcony. Two cats or one dog up to 70 pounds are allowed. The apartment last sold for $175,000 in 2015 and was assessed at $393,000 in July 2022.
