The Greater Vancouver REALTORS® February 2026 report landed last week, and the North Vancouver numbers paint a clear picture heading into spring.Detached home sales came in at 40 for the month, down 14.9% from February 2025. Active listings rose 22.7% year over year to 292. The MLS® HPI Benchmark Price for North Vancouver detached homes now sits at $2,031,700, reflecting an 8.5% decline from the same time last year.
Those headline numbers deserve some context. Sales running below historical averages has become a consistent pattern across Greater Vancouver — not just on the North Shore. Andrew Lis, GVR chief economist, noted in the February release that this pace of activity is becoming the new norm rather than the exception. What was more notable was the supply side: new listings actually came in lower than last February, driven primarily by fewer apartment sellers entering the market. Sellers, it seems, are being just as measured as buyers right now.
For the North Shore specifically, inventory now sits roughly 43% above the 10 year average for this time of year. That is a significant shift from the supply constrained conditions that defined the market through 2021 and 2022. Buyers today have genuine choice — and they are using it. The February sales to active listing ratio for North Vancouver detached homes landed at 13.7%, placing that segment firmly in buyer favouring territory.
The condo and townhome segments tell a slightly different story. Townhomes posted a 24.4% sales to active ratio, the strongest of any property type in North Vancouver, and condos came in at 17.8%. Both segments still favour buyers on a technical basis, but the gap between supply and demand is narrower than in the detached market.
What does this mean in practical terms? Sellers who price strategically and present well are still transacting — particularly in the townhome and detached segments where buyer intent tends to be strongest. But the margin for error on pricing is thin. Homes listed above market are sitting, and the data makes that clear.
Spring will be the real test. The next 90 days will reveal whether the pent up demand that many expected begins to materialize, or whether this measured pace continues through the traditionally busiest window of the year.
Thinking about buying or selling on the North Shore this spring? Contact our team for honest, data informed guidance — no obligation.
Source: Greater Vancouver REALTORS® February 2026 REALTOR® Report. Current as of March 3, 2026.