In North Vancouver, money often dictates what buyers can afford in the real estate market. As of June 2025, the average sale price for a condo in Greater Vancouver is $781,808, while the benchmark price comes in at $748,400. Both values have dropped slightly from the previous year, with condos seeing a 4.7% annual decline. Detached houses, by contrast, average $2,078,420 with a benchmark near $1,994,500. These homes have gone down even more steeply, falling up to 11% over the last year.
Monthly payments and outlays set the tone for most buyers. A condo looks more reachable for first-time buyers or anyone needing a smaller mortgage. On the other hand, the asking price for detached homes means buyers will likely need a high income or large down payment.
Market Activity and Inventory Growth
The real estate market in North Vancouver has cooled. In June 2025, only 200 sales were reported, which is well below the 10-year average. Still, the number of listings and total inventory have grown. There are now 1,063 homes on the market, 44.7% up compared to the average over a decade.
There is also a clear difference in how fast condos and detached houses sell. Detached homes have a sales-to-active-listing ratio of 16 percent, while condos are at 18.6 percent. These ratios suggest buyers have more negotiating power, but condos draw more buyer interest per available unit. In practice, condos are selling with less downward price pressure compared to houses.
Rates and Affordability in 2025
In March, the Bank of Canada reduced its policy rate to 2.75 percent. This led to slightly lower borrowing costs. Buyers have more purchasing power now, especially at the condo level. Entry-level homebuyers who could not afford to buy a full house may find a condo payment within reach thanks to smaller mortgages and cheaper rates.
Detached homes, even with lower rates, remain hard to purchase due to their much higher price tag. In many cases, buyers do not qualify for the needed loans or cannot cover the upfront down payment.
Comparing Housing Choices Across the Region
When considering properties in North Vancouver, buyers tend to look at other options nearby, such as homes for sale in Vancouver, Burnaby, and Richmond. Each area has its own price trends, average property sizes, and maintenance requirements. Buyers compare condos, townhouses, and detached houses before choosing based on cost and upkeep.
Looking at data, Vancouver condos often list at different price points than detached homes in the same city or in surrounding cities. Buyers weigh factors like amenities, transit, and resale prospects across all property types to make an informed decision.
Monthly Payments and Ongoing Costs
Owning a condo involves monthly strata fees. In North Vancouver, these range from $300 to $800, depending on the building’s features. Buildings with gyms, pools, or services on-site charge toward the high end. These fees cover most repairs outside the unit itself, building upkeep, and major repair projects. This system spreads out costs among all owners. Condo buyers should always check depreciation reports and past strata meeting minutes to watch for signs of looming repair bills.
Property taxes for condos tend to run from $2,500 to $4,500 a year. Detached homes, because of their higher assessed value, often exceed $5,000 a year in taxes. Owners of detached homes pay for every single upkeep task, from lawn care and snow removal to repairs for the roof, windows, or exterior paint.
Few costs are predictable for house owners since they handle all exterior and structural repairs. For buyers worried about expense surprises, condos often carry fewer risks because maintenance and operating costs are shared and set in advance.
Condo Ownership and Lifestyle Details
Condo ownership offers features in walkable neighborhoods that appeal to a wide range of buyers. Many projects are built close to the main streets or transit lines. North Vancouver has improved access to public transit and bike routes, adding convenience. Building amenities like secure entry, gyms, rooftop spaces, or community rooms are becoming more common in newer buildings.
Condos tend to attract first-time buyers, young professionals, and those who want quick commutes or low-maintenance living. Retirees and downsizers are turning to condos as well; a smaller suite and no yard work are attractive. New construction projects cater to accessible living, giving older buyers more options to age in place.
Rental Appeal and Investment Rationale
Condos in North Vancouver appeal to landlords as well. Lower price points mean landlords can enter the market with less capital. The supply of purpose-built rental buildings has not kept up with demand, making well-located condos relatively easy to rent. Ongoing immigration and strong employment in the area keep rental interest strong.
Experts who track sales data expect the condo segment to hold up better than detached homes in the short term. More predictable demand, fewer steep price drops, and improved mortgage access all factor into this outlook.
Why Detached Houses Lag Behind
Aside from initial price differences, detached houses are slower to sell right now in North Vancouver. Higher supply has pulled prices lower and kept days-on-market figures high. More listings and softer demand contribute to weaker sale prices for these homes.
While single-family homes attract people looking for more privacy or yard space, the high costs and maintenance needs cause buyers to think twice. For those on a fixed budget, surprise repairs like roof replacements or foundation work often cause stress.
Neighbourhood and Urban Benefits
North Vancouver authorities have invested in parks, public spaces, and shops that improve daily life for condo owners. Planned transit improvements, including new B-Line bus services and SeaBus upgrades, make it easier for residents to get around efficiently. Most new condo projects are built to high energy standards and include walkable access to grocers, clinics, and schools.
People value convenience in planning their home purchase. Living near shops, transit, and community facilities is more straightforward in a condo than a detached house that is often farther from services.
Plain Facts: Condos vs Houses in North Vancouver
North Vancouver’s housing market today points buyers to condos if they want lower entry costs, better mortgage access, and steadier ongoing expenses. Detached houses have become less affordable and face more price uncertainty. New buyers and those looking for fewer daily worries about property upkeep find that condos offer a practical route to homeownership.
Demographic trends back this up with more first-time buyers, small families, and retirees entering the market for condos. Developers keep adding amenities that fit those needs, while improved transit and retail options increase appeal.
Condos have shown a smaller yearly drop in price, continue to attract more buyer activity, and enjoy more predictable monthly payments. In 2025, anyone seeking value and stability in North Vancouver will likely find that a condo is the better option.
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