Market Update | June 2025
Inventory Climbs Again as Market Balances Unevenly Across the North Shore
“North Van: Sales volume contracted 18.9% year-over-year, while active inventory swelled to 48.2% above the 10-year average.
West Van: A sharp 45.6% decline in sales has stalled liquidity, pushing the absorption rate down to 5.3%.
Macro Context: The Liberal election win provides political certainty, but market fundamentals—specifically supply overhang—remain the primary driver of pricing.”
In April, home sales across North and West Vancouver continued to slow, in step with regional trends across Greater Vancouver. Sales activity was notably quieter compared to this time last year, with many prospective buyers still taking a wait-and-see approach amid ongoing economic uncertainty. This has led to a more measured pace of transactions, even as borrowing costs have eased — a shift that would typically stimulate greater activity.
The recent federal election — resulting in a new (but familiar) Liberal government — may help restore a degree of stability and consumer confidence in the months ahead, as political direction becomes more defined.
On the supply side, inventory has grown significantly, giving buyers more options than they’ve had in years. This increase in choice, combined with softening sales-to-listing ratios, is creating more balanced conditions — and in many cases, tilting slightly in favour of buyers.
Despite the slower pace of sales, prices in North and West Vancouver have remained, for the moment, relatively stable. Minor month-over-month and year-over-year adjustments suggest that the market is recalibrating rather than correcting, holding its ground even as activity levels ease.
That said, conditions across the North Shore aren’t consistent. At one end of the spectrum, some homeowners — whether motivated by timing, personal factors, or pricing misalignment — are accepting offers below expectations or recent comparable sales. At the other end, select properties that are well-priced, unique, or resonate with highly motivated buyers continue to generate strong interest, sometimes leading to multiple offers and swift sales. These contrasting outcomes highlight just how varied the landscape is right now. In such a nuanced environment, insight and strategy are critical — and working with a knowledgeable, hands-on team such as ourselves is essential to navigate the opportunities and challenges specific to your home or search.
Looking ahead, we typically see the pace of new listings begin to slow as we move closer to summer. So far, that hasn’t materialized as listing activity has remained steady, closely mirroring early spring levels. If this trend continues and inventory keeps climbing while buyer activity stays subdued, conditions could further tilt in favour of buyers. In that scenario, we may see additional pressure on pricing, particularly for properties that are not well-aligned with current buyer expectations. For those considering a move this season, staying informed and adaptable will be key as the landscape continues to evolve.
June 2025 Stats
North Vancouver
Sales: (▼ 18.9% YoY)
Active Inventory: 981 (▲ 38.2% YoY | 48.2% above 10-yr Avg)
Absorption Rate (Overall): 20.5% (Balanced)
Absorption (Detached): 20.0% (Balanced)
Absorption (Townhome): 17.3% (Balanced)
Absorption (Condo): 21.0% (Seller's/Balanced)
Price Resistance: Absorption drops significantly above $2.5M (12.3%).
West Vancouver
Sales: (▼ 45.6% YoY)
Active Inventory: 714 (▲ 13.0% YoY)
Absorption Rate (Overall): 5.3% (Deep Buyer's Market)
Absorption (Detached): 4.9% (Buyer's)
Absorption (Townhome): 3.4% (Buyer's)
Liquidity Note: Properties above $3M are seeing absorption rates below 3%, indicating near-zero liquidity for average listings.
About Matt Council
Matt Council is a top-performing North Vancouver Realtor and West Van specialist with a background in finance. He moves beyond the sales hype to offer clients a data-driven, pressure-free approach to buying and selling real estate on the North Shore. Whether you are evaluating a presale in Lower Lonsdale or a detached home in Lynn Valley, Matt helps you understand the numbers behind the move.
Thinking of making a move? Let’s run the numbers.