The North Shore Real Estate Market Pulse is intended to keep readers apprised of what’s going on in local real estate markets and in the global financial markets that affect real estate via inflation, interest rates, capital flows and public policy. It is best suited for those not able to keep up with all the news every day but still wanting to be informed.
The North Shore Real Estate Market Pulse – Opposite Directions, September 24th, 2026
September is nearly in the books, but we can already see the broad strokes of how numbers will be reported. Detached sales in North Vancouver, West Vancouver and across the region are all likely to surprise to the upside, while inventory is shrinking. Condos on the other hand are experiencing the opposite with sales numbers down and inventory up. Essentially, the two market segments are moving in opposite directions. Anecdotally, we’ve encountered numerous single family homes this month that have sold with multiple offers within a few days of being listed. Prices aren’t necessarily moving higher. Sales and inventory cannot move in opposite directions for long before prices start to reflect the supply and demand reality.
North Vancouver Entry-Level Houses ($1.4-2.1M) | West Vancouver Houses Under $2.4M
North Vancouver Move-Up Houses ($2.1-2.8M) | West Vancouver Move-Up Houses ($2.4-3.2M)
This is counter-intuitive, of course, because there doesn’t seem to be any particularly good reason for the real estate market to start doing well again. Interest rates are on their way up. Despite the Bank of Canada holding rates steady at their last meeting, the US Fed did raise rates, and fixed term rates are reflecting the bond market where yields have been rising to their highest levels since spring of 2024. It’s possible that this sudden jump in rates has brought some buyers off the sidelines to take action before they increase any further – perhaps they have rate holds that expire. But that doesn’t explain why the detached market is separating itself so much from attached properties.
North Vancouver Townhomes Under $1.3M | North Vancouver 2BR Condos Under $800K
Geopolitics is certainly not helping things as the trade discourse with the US has devolved into tribalism and name calling, the Middle East continues to simmer and boil over periodically, and now it seems like everyone is focused on re-election rather than actually solving problems. BC is going into a snap election one week after municipal elections. The policy environment impacting real estate markets could either look very different or much the same one month from now. All we can do is observe.
Stock markets keep shrugging off the bad news and pressing toward new all-time highs. Even what is typically a bad sign for stocks, the Fed raising interest rates, didn’t derail the market much at all. It will take earnings disappointments or some kind of a crisis to knock the market off its current perch. In the 90s internet bull market, we had Long-Term Capital Management, currency devaluations, and the Asian Financial Crisis. Will something like that happen during today’s AI-fueled bull market?
Bitcoin is back in vogue, apparently. Rallying off its summer low prices to sit comfortably above $80,000 for the first time in many months, it still has a long ways to go before matching its previous high. Gold and Silver have retreated from last month’s bounce, evidently not liking the behaviour of the bond market. Metals tend to do better in falling rate environments. Oil is back above $90, but the real story is with diesel fuel prices skyrocketing. Nearly $3/L at the pump now, this fuel critical to agriculture and commercial transportation is bound to show up in inflation numbers. Definitely something that contributes to the rising interest rates we see globally.
North Shore Real Estate Team
Disclaimer: The information provided in this column is for general informational purposes only and does not constitute financial, investment, or other professional advice. While we strive to provide accurate and up-to-date information, we make no warranties or representations as to its accuracy, completeness, or reliability. Any actions taken based on this information are at your own risk. Always consult with a qualified financial advisor before making any investment decisions.
