20 Years Reveal a Changing Luxury Market as West Vancouver Prices Double

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Postmedia has not reviewed the content. by GlobeNewswire 20 Years Reveal a Changing Luxury Market as West Vancouver Prices DoubleAuthor of the article:Sotheby’s International Realty Canada Marks 20 Years in West Vancouver with New Luxury Market InsightsTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountVANCOUVER, British Columbia, Sept. 29, 2026 (GLOBE NEWSWIRE) — Over the past two decades, West Vancouver’s luxury real estate market has undergone dramatic change, shaped by economic cycles, changing market conditions and extraordinary price growth. As Sotheby’s International Realty Canada celebrates 20 years in West Vancouver, newly compiled data reveals how dramatically the luxury market has evolved and where it stands today.This advertisement has not loaded yet, but your article continues below.In a market where the median residential sales price on the Multiple Listing Service (MLS) nearly doubled from $1,215,000 in September 2006 to $2,375,000 in August 2026, two decades of sales data revealed a more complex picture. According to Sotheby’s International Realty Canada, West Vancouver’s median residential sale price reached or exceeded $3.1 million only a few times over the past 20 years. In February and March 2016, the median sales price rose to $3,102,500 and $3,136,405 respectively, before the B.C. government introduced a 15% property transfer tax on residential purchases by foreign nationals and foreign-controlled corporations to cool the market. This level was not achieved again until April 2017, when it hit $3,100,000. In May 2022, driven by surging demand with pandemic-related housing trends, median prices reached $3,085,000, slightly short of the $3.1 million mark. It did not peak again until March 2025 when the median sales price reached $3,381,500, the highest level recorded in the past two decades, despite a prolonged slowdown in regional sales activity. This reflected sellers’ continued resistance to compromise on price despite muted market conditions.This advertisement has not loaded yet, but your article continues below.Despite price resilience, West Vancouver’s luxury market is positioned firmly in buyer’s territory this fall. From January 1 to August 30, 2026, 57 properties sold at $4 million or more in West Vancouver based on MLS, a 25% decrease from 76 sold in the same period of 2025.“The West Vancouver luxury market continues to favour buyers this fall. To put things in perspective, there were 195 residential properties listed above $4 million on MLS as of September 1. Based on this year’s rate of sale, that is approximately 2.3 years of supply on the market,” said Kevin O’Toole, Managing Broker with Sotheby’s International Realty Canada for Greater Vancouver. “With an abundance of competing listings in the top-tier market, sellers need to be realistic with their pricing expectations, conditions and timeframes to attract qualified buyers.”Although its analysis of land title and MLS records from January 2024–August 2026 reveal that one in seven West Vancouver properties above $4 million sells without ever appearing on MLS, Sotheby’s International Realty Canada maintains that given current market conditions, broader public marketing on MLS, in conjunction with strategic private network outreach, is key to attracting qualified purchasers.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.“Sotheby’s International Realty is renowned for its access to ultra-high-net-worth buyers through our extensive local, national and global media platform, and our elite sales network, which helps connect properties with qualified buyers,” said Elaine Hung, Chief Marketing Officer, Sotheby’s International Realty Canada. “In today’s luxury market, where supply exceeds demand, our real estate advisors are encouraging sellers to take a broad-based approach that combines targeted outreach with strategic exposure across premier media, as well as on MLS, to attract the right buyer.”“Sotheby’s International Realty Canada has been an integral part of the West Vancouver real estate landscape for 20 years, helping thousands of individuals and businesses navigate an ever-changing market,” says Mark Sager, Mayor of the District of West Vancouver. “As the housing environment continues to evolve, it is exciting to see this globally-renowned firm deepen its longstanding ties to the community and local real estate industry. This ensures West Vancouver residents have choice and access to services that meet their needs.”This advertisement has not loaded yet, but your article continues below.For more information on Sotheby’s International Realty Canada contact:Talk Shop MediaKayla Moyeskayla.moyes@talkshopmedia.com250-218-9276About Sotheby’s International Realty CanadaCombining the world’s most prestigious real estate brand with local market knowledge and specialized marketing expertise, Sotheby’s International Realty Canada is the leading real estate sales and marketing company for the country’s most exceptional properties. With offices in over 35 residential and resort markets nationwide, our professional associates provide the highest caliber of real estate service, unrivalled local and international marketing solutions and a global affiliate sales network of approximately 1,100 offices in 86+ countries and territories to manage the real estate portfolios of discerning clients from around the world. For further information, visit www.sothebysrealty.ca.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.