The detached market in West Vancouver has experienced one of the most dramatic shifts in recent memory — moving from a period of intense demand in 2021 to a multi-year slowdown defined by fewer sales, longer days on market, and significant price adjustments across nearly every price band.
2021: The Peak of Demand
In 2021, detached home sales in West Vancouver reached extraordinary levels as buyers rushed to secure properties amid record-low interest rates. Inventory was tight, competition was fierce, and most detached homes sold quickly. The market’s momentum that year set new benchmarks for pricing and confidence across all price segments.
2022: The Rate Shock
By early 2022, the Bank of Canada’s rate increases began to reshape the landscape. Detached sales dropped sharply, particularly in the $2.5 million–$5 million range — a key segment for West Vancouver. Inventory climbed as buyers hesitated, and the tone shifted from urgency to caution.
2023: A Market in Transition
Although 2023 brought some stability, it was far from a rebound. The year ended with 380 detached sales in total — well below 2021 levels — with the majority of transactions occurring under $3 million. Sellers had to adjust expectations, and pricing became highly segmented. Homes positioned at the right value continued to move, but luxury listings above $5 million saw very limited activity.
2024: Value Becomes the Focus
By 2024, the West Vancouver detached market had settled into a new rhythm. Sales volume remained consistent with 2023, but pricing softened further as higher borrowing costs persisted. Buyers were selective, often seeking updated homes in central neighbourhoods such as Ambleside, Dundarave, and Sentinel Hill, while older properties or those requiring renovation lingered. The gap between asking and selling prices widened, and price reductions became common.
2025 Year to Date: Cautious Optimism, Limited Movement
So far in 2025, the detached market continues to reflect a cautious mood. Activity is concentrated below $3 million, with most sales coming from local end-users rather than investors or speculative buyers. The luxury segment remains quiet, and even well-priced homes require longer exposure to find the right match.
The Broader Picture
The overall trend from 2021 through 2025 shows a market that has shifted from exuberant demand to grounded realism. Detached homes in West Vancouver are selling — but primarily when value and presentation align with current buyer sentiment. The investor presence that once helped fuel activity is largely absent, and today’s market is driven almost entirely by lifestyle and long-term ownership decisions.
Outlook
While variable rates have eased slightly, overall borrowing costs remain high, and further cuts appear unlikely this year or even into early next year. As a result, West Vancouver’s detached market is expected to remain steady but subdued — characterized by selective buyers, cautious offers, and extended listing periods.
Activity will likely stay focused in the more affordable price brackets, while the upper end continues to see limited movement. Unless there is a significant policy or economic shift, stability rather than recovery will define the months ahead.