September didn’t exactly deliver the usual Fall “market wake‑up call,” but the story behind the slowdown is more interesting than it looks. The dip in sales wasn’t about lack of demand — it was almost entirely driven by a very low apartment turnover. Meanwhile, townhomes in both Central Lonsdale and North Vancouver held steady, keeping things in balanced‑market territory.

And Central Lonsdale? It performed pretty well. The sales‑to‑active ratio eased from 26% in August to 22% in September (North Van was 21.2% in August and 13.5% in September), but that’s still a solid showing. We even saw an over‑asking sale, which is a nice little win in a slower stretch.

So while September didn’t come in with the typical fall momentum, Central Lonsdale proved it can hold its own. Mostly balanced and still delivering standout moments — not a bad way to head into the rest of the season.

Assessed Values vs. Sale Prices

Central Lonsdale’s tax‑to‑sale price values climbed from roughly 1.5 percent above assessment to around 4 percent above, while North Vancouver on the whole averaged about 1.6 percent below. It’s important to note that two of the four homes sold above their assessed value and two sold below. That split is what we expect in a balanced market coming closer into alignment, not swaying heavily one way or the other.

And let’s be honest: the market is still challenging. Buyers are picky, sellers are navigating shifting expectations, and every neighbourhood and property has its own rhythm. But in the middle of all that, Central Lonsdale is showing resilience.

What Buyers Were Responding To

Some homes just have that magic combo .. unique features, quality renovations, a true turn‑key feel and this month’s standouts delivered exactly that. Both were end units, fully renovated, and packed with the kind of details buyers instantly connect with. But here’s the thing: a townhome doesn’t need to be flawless to sell. It needs to line up with what today’s buyers value most. They’re informed, they’re selective, and they’re willing to embrace “imperfect” if the price and features make sense.

Most of the homes this month fell within the 1688–1746 square foot range, offering a mix of 2, 3, and 4 bedrooms. Built mainly in the 80s and 90s, with one newer “teenage” home in the mix, they were evenly split between the east and west sides. Each one brought something different to the table — different layouts, different upgrades, different vibes — and naturally, different price points. It was a month where variety defined the market, and buyers responded to the homes that matched their lifestyle and expectations.

North Vancouver Townhome Pricing Trends

Benchmark HPI sale prices edged down:
$1,230,400 SEP
$1,247,400 AUG
$1,237,300 JUL
$1,259,600 JUN

The HPI concept is modeled after the Consumer Price Index (CPI), which measures the rate of price change for a "basket" of goods and services. Basket is defined as the combination of goods and services that Canadians buy most such as food, shelter, clothing, transportation, etc.  Instead of measuring goods and services, the HPI measures the change in price for a basket of housing features Greater Vancouverites buy most such as lot size, number of rooms, age of the home, the neighbourhood, etc.

Average sale prices edged up:
$1,350,244 SEP
$1,289,927 AUG
$1,261,260 JUL
$1,242,288 JUN

Median sale prices edged up:
$1,360,000 SEP
$1,260,000 AUG 
$1,250,000 JUL
$1,225,000 JUN

Negotiation was the norm—but outcomes and timelines varied

North Vancouver’s townhome market had a bit of everything last month — quick wins, slow burns, and a whole lot of individuality. Some homes were snapped up within days, while others took their time, sitting on the market for months or readjusting before finding the right buyer. Out of 19 sales, 17 sold below asking, averaging roughly 98.2% of list price. Keep in mind, that percentage doesn’t include refreshed pricing (about 42% of the sales), which shifts the number lower.

The market isn’t moving in one neat, predictable line. It’s not a uniform trend, it’s about each individual home.

Questions?

If you’re wondering how your townhome fits into the picture — whether it has the features buyers are responding to or what you can realistically expect — reach out anytime. We’re close by, always happy to help, and love talking townhomes.

North Vancouver’s detached market has technically sat in Balanced Market territory this year — but Central Lonsdale has differed throughout. With a 10% sales‑to‑active‑listings ratio in September, the neighbourhood fell just short of the 12–20 percent balanced range, leaning more towards a buyer-favoured environment. Something that has been fairly consistent this year, with the exception of certain well-positioned properties continuing to attract strong interest.

So what’s causing the gap?

Plain and simple, asking prices, what’s on offer and buyer expectations haven’t been lining up. The homes that did sell shared a few consistent traits: either realistic pricing for the offering, sought after features, acceptance that work was needed, or location compromises that buyers were willing to make at the right number. Success came from meeting the market where it truly is — not where sellers hoped it might be.

A closer look at last month’s sales

Out of the four properties, two required re‑listing, illustrating continued buyer hesitation. The mix included:

• One land‑value property

• One renovated character home with suite potential

• Two newer homes with suites

• The standout for the month offered an ideal layout, presentation, location, and strong buyer appeal

• Two sales on the west side, two on the east side
  

Sales vs. Tax Assessment

With two homes selling above assessment and two below, this is the definition of a balanced market — the two values become more aligned and the market is cautious, price‑sensitive, and driven by realistic expectations.

The takeaway

Central Lonsdale’s detached market is moving, but selectively. Homes that align with buyer expectations on price, condition, and location are the ones finding success. If these factors are out-of-line, sellers are either adjusting, waiting for the market to meet them or deciding not to proceed.

North Vancouver Detached Summary

Although relatively steady in September with an increase in sales, conditions mostly continue to favour buyers. Sales activity remained modest, with 59 detached homes selling and 385 active listings at month-end—equating to a sales ratio of 15%, firmly within balanced-market territory.

Pricing adjusted downward. The detached benchmark price was $2,042,000 in September, down 6.2% from a year earlier, and down ever so slightly (2.3 percent) from August.

Homes are selling, but they need to be positioned realistically. At an average of 36 days on market (not including cumulative days which increases this number) well-priced properties are finding buyers, while overpriced listings are facing longer timelines and greater pressure to adjust.

Snapshot

• Sales were up - 59 in September compared to 44 in August

• 76.3 of these sales were $2.5M or less

• The market remains balanced at a 15 percent ‘sales-to-active-listings’ ratio - up from 13.1 percent in August

• Sales were spread across most neighbourhoods, with the highest in Lynn Valley and then Canyon Heights

• The September Benchmark Price was $2,042,000, down ever so slightly from $2,088,400 in August

• Average/median home sizes hovered around 2,812–2581 square feet

Reach out if you’re wondering where your home fits into this story — whether it’s a “market standout” or a “needs a strategy” situation.