Vancouver Real Estate Market Update – November 2023

The November 2023 real estate market in Vancouver presents a varied landscape, mostly balanced with some key highlights:

Vancouver Westside Detached Homes:

• Buyers Market at 10% Sales Ratio average (1 in 10 homes selling rate)
• Homes are selling on average 4% below list price
• Most Active Price Band: $3 mil to $3.5 mil with average 30% Sales Ratio (Sellers market)
• Buyers Best Bet: Homes minimum $7.5 mil, Quilchena, SW Marine, Shaughnessy, South Granville, Southlands and 7 plus bedrooms
• Sellers Best Bet: Selling homes in Point Grey, South Cambie and 5 to 6 bedroom properties

Vancouver Westside Condos and Townhomes:

• Balanced Market at 17% Sales Ratio average (1.7 in 10 homes selling rate)
• Homes are selling on average 3% below list price
• Most Active Price Band** $500,000 to $600,000 with average 38% Sales Ratio (Sellers market)
• Buyers Best Bet: Homes between $2.25 mil to $2.5 mil, Dunbar, South Cambie and minimum 3 bedroom properties
• Sellers Best Bet: Selling homes in Mount Pleasant, Quilchena and up to 1 bedroom properties

Vancouver Eastside Detached Homes:

• Balanced Market at 12% Sales Ratio average (1.2 in 10 homes selling rate)
• Homes are selling on average 1% above list price
• Most Active Price Band: $1.25 mil to $1.5 mil with average 50% Sales Ratio (Sellers market)
• Buyers Best Bet: Homes between $2.75 mil to $3.5 mil, Collingwood, Mount Pleasant, Renfrew, South Vancouver and 7+ bedrooms
• Sellers Best Bet: Selling homes in Fraser and up to 2 bedroom properties

Vancouver Eastside Condos and Townhomes:

• Balanced Market at 19% Sales Ratio average (1.9 in 10 homes selling rate)
• Homes are selling on average 1% below list price
• Most Active Price Band: $400,000 to $500,000 with average 43% Sales Ratio (Sellers market)
• Buyers Best Bet: Homes between $1.5 mil to $1.75 mil, Downtown, Main, Strathcona and 3 bedroom properties
• Sellers Best Bet: Selling homes in Hastings, Mount Pleasant and minimum 4 bedroom properties

North Vancouver Detached Homes:

• Sellers Market at 28% Sales Ratio average (2.8 in 10 homes selling rate)
• Homes are selling on average 3% below list price
• Most Active Price Band: $1.5 mil to $1.75 mil with average >100% Sales Ratio (Sellers market)
• Buyers Best Bet: Homes between $4 mil to $4.5 mil, Dollarton, Upper Delbrook and minimum 7 bedroom properties
• Sellers Best Bet: Selling homes in Boulevard, Lynn Valley, Upper Lonsdale and 3 to 4 bedroom properties

North Vancouver Condos and Townhomes:

• Sellers Market at 32% Sales Ratio average (3.2 in 10 homes selling rate)
• Homes are selling on average 4% below list price
• Most Active Price Band: $500,000 to $600,000 with average 47% Sales Ratio (Sellers market)
• Buyers Best Bet: Homes between $1.75 mil to $2 mil, Lynnmour, Pemberton, Upper Lonsdale and minimum 4 bedroom properties
• Sellers Best Bet: Selling homes in Central Lonsdale, Lynn Valley, Mosquito Creek, Roche Point and up to 1 bedroom properties

West Vancouver Detached Homes:

• Buyers Market at 8% Sales Ratio average (8 in 100 homes selling rate)
• Homes are selling on average 1% below list price
• Most Active Price Band: $2.25 mil to $2.5 mil with average 44% Sales Ratio (Sellers market)
• Buyers Best Bet: Homes between $4.5 mil to $5 mil, Caulfield, Dundarave and minimum 7 bedroom properties
• Sellers Best Bet: Selling homes in Sentinel Hill and 3 to 4 bedroom properties

West Vancouver Condos and Townhomes:

• Balanced Market at 12% Sales Ratio average (1.2 in 10 homes selling rate)
• Homes are selling on average 100% of list price
• Most Active Price Band: $1 mil to $1.25 mil with average 30% Sales Ratio (Sellers market)
• Buyers Best Bet: Homes between $1.25 mil to $1.5 mil, Horseshoe Bay, Park Royal and up to 1 bedroom properties
• Sellers Best Bet: Selling homes in Dundarave and 2 bedroom properties

These highlights provide a snapshot of the varied and dynamic nature of the Vancouver real estate market as of November 2023. For a more detailed analysis, contac Sanjin Cvetkovic at 604-771-6415.