Best places to buy real estate in North Vancouver and West Vancouver
In the table below, you’ll find the top neighbourhoods for real estate purchases in North Vancouver and West Vancouver—the B.C. region known as North Shore. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.
Source: Zoocasa
How to read the table:
- Benchmark price 2022: The composite benchmark price as of Dec. 31, 2022. It represents all property types, including attached and detached homes, townhouses/row units and apartment units.
- 1-year, 3-year and 5-year growth: The percentage increase or decrease in the composite benchmark price (all property types) over each time frame.
- Value, economics and accessibility: These neighbourhood characteristics are each scored on a scale of 0 to 5, with five representing the most value for your money, high levels of income and education, and ease of travel by foot, bike and public transit.
- Children: The neighbourhood’s percentage of households with kids.
- Read the detailed methodology behind our rankings.
What’s happened in the North Shore real estate market?
The homes in North Shore are some of the most expensive real estate in Canada. In December 2022, a home in North Vancouver cost an average of $1,296,700. That same month, homes in West Vancouver averaged a whopping $2,559,400—and that was around 13% less than at the June peak, when the average price in West Vancouver reached $2,906,200.
Despite the high prices, North Shore still had a ton of sales activity. Even as the cost of borrowing went up with the Bank of Canada’s interest rate hikes, sales continued throughout the year because the area is sought-after by retirees and wealthy buyers looking to invest in detached homes.
“In 2022, the demand for real estate in North Shore didn’t change. Prospective buyers were able to afford less, but demand always outweighs the supply here,” explains local eXp Realty agent Geoff Pershick. (Zoocasa, the author of this study, is wholly owned by eXp World Holdings.)
Home prices declined in North Shore throughout 2022, but not to the same extent as some other major Canadian real estate markets. In December, North Vancouver’s average price was about 12% lower than its May peak of $1,475,700, while West Vancouver fell close to 12%. In comparison, the national average price fell about 9% year-over-year, from $727,883 to $792,858.