West Vancouver & North Van Apartment Market Trends 2025
Unveiling the Apartment Market: A Deep Dive into Greater Vancouver HPI Trends (Updated)
Welcome back to Xhouse.ca, your go-to source for insightful real estate analysis. In this updated post, we delve into the latest MLS® Home Price Index (HPI) data for apartments across Greater Vancouver (GVR), West Vancouver, North Vancouver, and Vancouver. Our goal is to provide a clear, easy-to-understand overview of market dynamics, helping both buyers and sellers navigate the current landscape.
Understanding the MLS® HPI Price
The MLS® HPI is a sophisticated and reliable measure of home price trends. Unlike simple average prices, the HPI adjusts for various property features, ensuring that changes in the index truly reflect shifts in market value. This makes it an invaluable tool for accurate comparisons across different regions and over time.
Apartment Market Snapshot: Latest Data (July 2025)
Let's begin with a look at the current HPI for apartments in these key areas:
- Greater Vancouver (GVR): $743,700
- West Vancouver: $1,300,500
- North Vancouver: $819,500
- Vancouver: $780,600
West Vancouver continues to stand out with the highest HPI, reflecting its premium market status for apartment living.
Year-over-Year Performance: July 2024 to July 2025
Examining the year-over-year change provides crucial insights into recent market momentum:
- Greater Vancouver (GVR): Declined by 3.19%
- West Vancouver: Grew by 1.40%
- North Vancouver: Grew by 0.58%
- Vancouver: Declined by 3.43%
This data reveals a mixed market. While GVR and Vancouver saw slight declines, West Vancouver and North Vancouver demonstrated modest growth in apartment HPI over the last year.
Overall Trend: January 2024 to July 2025
A longer-term view since early 2024 shows:
- Greater Vancouver (GVR): Slight decline of -2.27%
- West Vancouver: Modest growth of 0.31%
- North Vancouver: Strong growth of 3.92%
- Vancouver: Decline of -2.58%
North Vancouver has shown strong growth since early 2024, while West Vancouver has remained stable. GVR and Vancouver have seen slight downward adjustments.
Get Your Free Home Valuation
Curious about your property's current market value? Get a comprehensive, no-obligation home valuation from Vancouver's trusted real estate expert.
Get Free Home ValuationKey Observations for Buyers and Sellers
Market Peaks and Troughs (Since January 2024):
- GVR: Peak: $778,300 (Apr 2024), Trough: $743,700 (Jul 2025)
- West Vancouver: Peak: $1,371,300 (Feb 2024), Trough: $1,189,600 (Jan 2025)
- North Vancouver: Peak: $824,500 (Jun 2024), Trough: $784,800 (Jan 2025)
- Vancouver: Peak: $814,500 (Apr 2024), Trough: $778,000 (Jan 2025)
Recent Trends (Last 12 Months):
- West Vancouver maintains the highest HPI — most expensive apartment market.
- GVR serves as a benchmark for overall market health.
Buyer's Market Assessment
Market Conditions: The market is balanced with slight buyer advantages.
Why: Mixed performance — some areas growing, others cooling.
For Buyers: Opportunities to negotiate, especially in GVR and Vancouver.
For Sellers: Competitive pricing and strong presentation are key.
Explore North Vancouver Homes
Interested in North Vancouver's growing market? Browse our exclusive listings.
View North Vancouver HomesWhat Does This Mean for You?
For Buyers:
A balanced market means more choice and negotiation power, especially in areas with HPI declines. West Vancouver and North Vancouver offer growth potential if you're strategic.
For Sellers:
Pricing right and marketing effectively are crucial. Highlight your home’s strengths and be open to offers.
Ready to Make Your Move?
Whether you're buying or selling, having the right real estate expert makes all the difference.
Professional real estate services across Greater Vancouver
At Xhouse.ca, we’re dedicated to providing accurate, actionable real estate insights. Stay tuned for more market updates to help you make confident decisions!
Categories
Recent Posts
