By Zoocasa on April 21, 2023
Estimated reading time: 6 minutes

Where to Buy Real Estate in Canada 2023: North Shore, B.C.

By Zoocasa on April 21, 2023
Estimated reading time: 6 minutes

Find out the best places to buy property in North Shore—one of the most beautiful, affluent and high-priced markets in the country.

View of West Vancouver from Prospect Point, Vancouver. Photo by Scazon from Flickr.

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.

Rank	Neighbourhood	wdt_ID	City	Benchmark price 2022	1-year growth	3-year	5-year	Value	Economics	Accessibility	Children
1	Eagleridge	1	West Vancouver	$4,256,625	32%	85%	87%	3.9	5.0	0.5	45%
2	Lions Bay	2	West Vancouver	$2,235,473	17%	48%	36%	3.8	5.0	0.5	45%
3	Eagle Harbour	3	West Vancouver	$2,611,506	10%	42%	19%	3.1	5.0	0.5	45%
4	Horseshoe Bay	4	West Vancouver	$2,165,551	19%	-20%	20%	2.9	5.0	0.5	45%
5	Seymour	5	North Vancouver	$473,148	17%	40%	62%	5.0	2.8	2.2	49%
6	Chelsea Park	6	West Vancouver	$4,124,444	22%	92%	91%	3.8	3.5	0.8	49%
7	Caulfield	7	West Vancouver	$3,572,803	2%	55%	-6%	2.2	5.0	0.5	45%
8	Upper Caulfield	8	West Vancouver	$2,802,456	-4%	14%	-7%	2.0	5.0	0.5	45%
9	Deer Ridge	9	West Vancouver	$2,076,111	17%	12%	31%	3.4	3.5	0.8	49%
10	North Lonsdale Delbrook	10	North Vancouver	$1,884,524	15%	38%	27%	3.7	3.0	2.5	49%
11	Panorama Village	11	West Vancouver	$1,669,838	2%	27%	3%	3.1	3.5	0.8	49%
12	Tempe	12	North Vancouver	$1,959,231	5%	18%	18%	3.1	3.0	2.5	49%
13	Cypress Park	13	West Vancouver	$2,996,595	8%	28%	-9%	2.4	3.5	0.8	49%
14	Lynnmour Inter River	14	North Vancouver	$950,552	15%	32%	28%	4.2	1.3	2.0	47%
15	Lynn Valley	15	North Vancouver	$1,421,281	14%	26%	24%	3.8	1.3	2.0	47%
16	Bayridge	16	West Vancouver	$3,469,567	17%	30%	-11%	2.4	2.3	1.1	34%
17	Whitby Estates	17	West Vancouver	$3,579,068	-16%	-13%	-19%	0.7	3.5	0.8	49%
18	Dundarave	18	West Vancouver	$2,604,184	10%	19%	-4%	2.6	1.6	2.1	39%
19	Lower Lonsdale	19	North Vancouver	$994,950	10%	23%	37%	4.0	0.1	4.8	32%
20	Altamont	20	West Vancouver	$8,065,045	52%	81%	30%	1.6	2.3	1.1	34%
21	Central Lonsdale	21	North Vancouver	$1,148,504	10%	15%	22%	3.7	0.0	5.0	28%
22	Westmount	22	West Vancouver	$4,950,142	7%	16%	19%	1.3	2.3	1.1	34%
23	Canterbury	23	West Vancouver	$6,208,590	2%	8%	-6%	0.0	3.5	0.8	49%
24	Grand Boulevard	24	North Vancouver	$2,278,667	17%	31%	24%	3.4	0.1	4.8	32%
25	Marine Hamilton	25	North Vancouver	$844,268	2%	12%	11%	3.5	0.0	5.0	28%
26	Queens	26	West Vancouver	$3,910,059	6%	11%	-2%	1.6	1.6	2.1	39%
27	Rockridge	27	West Vancouver	$4,640,119	4%	-4%	-18%	0.8	2.3	1.1	34%
28	West Bay	28	West Vancouver	$4,818,207	-23%	-2%	5%	0.1	2.3	1.1	34%

Source: Zoocasa

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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.

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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.

“Prices adjusted due to constrained affordability,” says Pershick, “but they didn’t plummet because the strong demand keeps prices high.”

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See the full report: Where to Buy Real Estate
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What’s next for real estate in North Shore?

Demand for North Shore real estate is generally strong, and supply often cannot keep up. As a result of interest rate hikes, that supply tightened throughout 2022, preventing prices from falling as significantly as in other markets. By December, there were just 78 new listings in North Vancouver, down from 118 the year before.

“We always suffer from low inventory in North Shore” says Pershick. “During a year like 2022, where mortgage rates were climbing and market conditions were unstable, many chose not to sell.”

He adds that, even if buying conditions improve this year, it might just be for the short term. “It’s likely that inventory will not improve dramatically, even if affordability increases because it’s a small suburb with tight demand and ever-growing demand.”

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Top neighbourhoods in other regions

North Shore’s top three neighbourhoods

1. Eagleridge, West Vancouver

Surrounded by natural beauty, Eagleridge is a prime location to enjoy the tranquility of West Vancouver. Homes in Eagleridge sold for a staggering average price of $4,256,626 at the end of 2022, among the highest in North Shore. Yet prices have also climbed faster there than in most other parts of the region. The average price was 32% higher than one year earlier, and 87% higher than five years earlier. These significant gains have earned the neighbourhood a value score of 3.9, and it has a perfect economics score of 5. While the accessibility score is low at 0.5, this hasn’t stopped families from making Eagleridge their home; 45% of households have children.

View Eagleridge real estate listings on Zoocasa.

2. Lions Bay, West Vancouver

It’s no mistake that Lions Bay made it into our top three for the third year in a row. This charming seaside village offers stunning mountain views and promising market conditions. The average selling price was $2,235,437 at the end of 2022—up 17% from one year earlier and 36% from five years earlier. Home buyers can benefit from prices that are lower than in other areas in North Shore; Lions Bay has a value score of 3.8 and an economics score of 5. Like the top-ranked Eagleridge, however, it has an accessibility score that is notably low, at 0.5.

View Lions Bay real estate listings on Zoocasa.

3. Eagle Harbour, West Vancouver

Eagle Harbour has made a comeback, returning to the top three for the first time since 2021. This West Vancouver neighbourhood is located on the waterfront, making it desirable for boaters and nature lovers alike. Homes in the area cost an average of $2,611,506 at the end of 2022, up 10% from one year earlier. With three-year growth at 41% and five-year growth at 19%, the area has maintained considerable demand. It has a value score of 3.1 and a great economics score of 5. Families also seek out this nature-filled enclave; 45% of households have kids. Eagle Harbour has the same low accessibility score (0.5) as our other top North Shore neighbourhoods.

View Eagle Harbour real estate listings on Zoocasa.

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