Most and least expensive homes to sell on the North Shore this summer

The summer real estate market has proved a bit of a head scratcher on the North Shore.

“We call it ‘inconsistent’,” said Aaron Rossetti of North Vancouver’s Rossetti Realty Ltd.

There was an assumption that once interest rates started heading down, a surge of buyers would come into the market. But while listings have increased, buyers haven’t been as active as expected, he said.

That’s a trend seen across the Lower Mainland.

In North Vancouver, affordability is a key factor, with detached homes priced under $2 million the most sought after.

The median selling price of a typical detached house in North Vancouver has remained steady at just under $2.3 million, according to the Greater Vancouver Realtors. A typical townhouse in North Vancouver went for $1.35 million in July while an apartment went for $814,000.

Sales of detached homes in North Vancouver between May and July this year were down six per cent compared to sales in the same period last year, while sales of apartments were down 12 per cent. In West Vancouver, where total numbers of sales are smaller, sales of detached homes were up 23 per cent over the same three-month period last year.

Lynn Valley, upper and central Lonsdale and Canyon Heights were popular areas for detached home sales in North Vancouver, according to statistics from Zealty.ca, while apartment buyers favoured lower and central Lonsdale. In West Vancouver, Dundarave and the British Properties were popular for detached home buyers while Dundarave and Ambleside were preferred neighbourhoods for apartments.

Here’s a look at some of the most and least expensive homes to sell on the North Shore over the past May through July summer period:

Most expensive detached home

The most expensive detached home to sell on the North Shore over the past three months was also the most expensive house to sell so far this year: a new six-bedroom 10-bathroom three-story 10,000-square-foot home that sits on almost half an acre at 1416 Sandhurst Place in West Vancouver’s Chartwell neighbourhood.

The home, built by a real estate investor who bought the lot and had the brand-new home custom built by Homes by Valentino, was sold for an eye-watering $18 million by Derek Grech of The Partners real estate July 21.

The amazing view from the home – stretching from the City of Vancouver and Stanley Park over to Georgia Straight – is its most notable feature. “When you walk into the house, you can see the view from the minute you open the door,” said Grech.

Other features include a downstairs golf simulator system, a home theatre system that can fit 25 people and a 400 square foot gym.

The home was originally listed for $25 million in November 2023.

Iconic ‘White House’ sold

Grech also sold the second-most expensive home over the three-month period when the 10-bedroom 12-bathroom home at 2929 Mathers Ave. known locally as ‘The White House’ sold for $14.75 million June 18.

At 16,000 square feet, the White House, originally built in 1993, clocks in at substantially larger than most other West Vancouver mansions. That’s because since the last addition to the house was completed – adding an extra 6,000 square feet to the mansion – local rules governing how just massive homes could be built on lots in West Van were changed, leaving the White House one of the biggest.

The mansion, sitting on a one-acre Altamont estate at 2929 Mathers Ave., is fronted with colonial pillars, and features broad front entrance steps leading down to a circular driveway. It gets its nickname from a more than passing resemblance to a certain other landmark by the same name in Washington, D.C.

The most recent owner, who worked for a prominent West Vancouver family and was involved in the international hotel business, added a huge wing to the already massive house, designed by Paul Fedusiak of Goldwood Homes. That 6,000-square-foot addition included a full-sized bowling alley, movie theatre and video arcade featuring classics like Galaga and Pac Man.

Sandra Bullock and JLo have reportedly previously called the mansion their temporary home in West Vancouver.

The White House has been on and off the market since 2018, and at one point was listed for $25 million. It last sold in 2010 for $5 million.

Most expensive townhouse

The most chi chi townhouse sold this summer so far is a three-story half duplex of over 4,500 square feet, steps to the West Vancouver Seawalk at 2434 Bellevue Ave. The 35-year-old re-designed three-bedroom four-bathroom luxury home in Dundarave features exceptional views and was sold by Malcolm Hasman June 21 for $8.85 million. A gourmet kitchen, media room, and temperature-controlled glass wine room are among the additional features. The home was last assessed at just under $7 million and was listed in November 2023 for $10.5 million. It last sold in 2007 for $4.3 million.

Most expensive apartment

The most expensive apartment sold between May and July on the North Shore was the three-bedroom four-bathroom sixth-floor penthouse in West Vancouver’s Grosvenor building at 602 – 1327 Bellevue Ave. The 2,500-square-foot four-year-old apartment sold July 13 for $9.55 million. Designed by architect James Cheng, building boasts exceptional views, and the penthouse includes over 1,300 square feet of walkout balcony. A gourmet kitchen, wine cooler, air conditioning and automated shades complete the package, just steps to the Seawalk and shopping. The apartment has been listed on and off since 2022, at one point hitting the market for $12.8 million.

Least expensive detached home

The least expensive detached home sold in the past three months on the North Shore was a two-bedroom 1200-square-foot rancher at 1698 Garden Ave. in the Capilano/Pemberton area.

The home, built in 1956, sold for $1.2 million July 20. The two-bedroom one-bathroom home includes a rec room that could be converted into an additional bedroom. The property includes a fenced yard, patio and a carport and was last assessed at $1.3 million.

Least expensive townhouse

The least expensive townhouse to sell between May and July was a nine-year-old one-bedroom one-bathroom townhouse at 34 – 433 Seymour River Place in North Vancouver that sold for $565,000 May 14.

Described as an open-concept home with added outdoor space, the townhouse features both front and back door entry and two private patios along with a fenced back yard. Laminate floors, high-end kitchen appliances and convenient location add to the appeal. The town house last sold in 2018 for $500,000.

Least expensive apartment

The least expensive apartment to sell on the North Shore this summer was a north-facing studio apartment of just under 500 square feet in Woodcroft’s Pemberton building. The 52-year-old apartment at 504 – 2012 Fullerton Ave. in North Vancouver overlooking a forested area sold for $350,000 June 2.