The Vancouver real estate market continues to favor buyers as we head into May, with inventory levels rising substantially across all property types. April's sales remained subdued, coming in 36% below historical averages, while active listings have surged by 60% year-over-year, reaching levels not seen since 2013.
The election of Mark Carney's Liberal minority government in late April brings new focus to housing affordability nationwide. With former Vancouver Mayor Gregor Robertson appointed as Minister of Housing, we're watching several promising initiatives that could impact our local market, including GST relief for first-time buyers on purchases up to $1 million and the establishment of "Build Canada Homes" to boost affordable housing supply.
May 2025 Market Snapshot:
- Detached Homes: Listings ▲27% | Sales ▼30% | Median Price $1,680,000 ▼3% | Buyers' Market
- Townhomes: Listings ▲48% | Sales ▼27% | Median Price $915,500 ▼2% | Balanced Market
- Condos: Listings ▲38% | Sales ▼21% | Median Price $658,000 ▼2% | Balanced Market
WEST VANCOUVER WATERFRONT ESTATE! Rare 32,000sq ft gently sloping oceanfront property with 100 feet of low bank frontage. Private and south facing with endless potential to redevelop or restore the existing Bainbridge House. Enjoy private swimming, kayaking, and boat mooring right from your front yard. Located next to Lighthouse Park with spectacular ocean views and breathtaking sunsets.
3 Beds | 3.5 Baths | 3,000 Sq. Ft. | Built 1936
Discover urban elegance at "Mira on the Park" in Lower Lonsdale. This southeast-facing 1-bed, 1.5-bath condo offers stunning views of Victoria Park and Burrard Inlet. Features include granite countertops, stainless appliances, hardwood floors, electric fireplace, and a 70 sqft balcony. Enjoy building amenities including exercise center and concierge services, with vibrant LoLo just steps away.
1 Bed | 1.5 Baths | 622 Sq. Ft. | Built 2008
Rare island living opportunity just a 30-second barge ride from mainland. This charming Pan-abode home offers a single-level layout surrounded by lush gardens on a private 10,000+ sq ft lot. Enjoy the serenity of island life while being minutes from Eagle Harbour Marina and Caulfeild Village.
3 Beds | 1.5 Baths | 1,572 Sq. Ft. | Built 1963
Stunning south-facing townhome in desirable Spyglass Hill complex. Vaulted ceilings and skylights flood this flexible 3-level home with natural light. Features primary bedrooms with ensuites on both main & upper floors, three decks, and a quiet cul-de-sac location ideal for families.
5 Beds | 5 Baths | 3,338 Sq. Ft. | Built 1984
The newly elected Liberal government has unveiled several housing initiatives that may directly impact North Shore homeowners and buyers:
- First-Time Buyer GST Exemption: If you're entering the market for the first time, you can now save up to $50,000 in GST on purchases up to $1 million—helping many young North Shore families finally break into homeownership.
- Build Canada Homes Program: This new federal program will work with municipalities to increase housing supply, potentially opening new development opportunities in parts of the North Shore.
We anticipate a potential uptick in first-time buyer activity later this year as these policies take effect. For current homeowners considering selling, preparing your property now could position you well for this expected increase in buyer interest.
May Events on the North Shore
Taste of the Bay - Wednesday, May 28
Horseshoe Bay
Join the whole family for this annual community celebration featuring live music, prize draws, and paddling around beautiful Horseshoe Bay. Tickets are $30 for adults and $15 for children, available at Troll's Blenz and Gleneagles Community Centre. Don't miss this perfect evening of family fun!
Shipyards Night Market - Fridays, May 16 - September 12
The Shipyards District, North Vancouver
The beloved Shipyards Night Market returns for 2025! Join the community every Friday evening at the foot of Lonsdale for food trucks, artisan vendors, live music, and a beer garden—all with stunning waterfront views. This free family-friendly event is the perfect way to kick off your weekend and enjoy the best of North Shore summer vibes.
2025 Walkathon for Special Olympics - Saturday, May 24
West Vancouver Seawall
Support local athletes at this annual fundraising event where all proceeds stay on the North Shore to support sports programs for people with intellectual disabilities. Join athletes, family members, volunteers, and supporters for this rewarding community event that helps fund equipment, transportation, and competition costs for local Special Olympics programs.
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