Let’s dig into the specifics of the numbers to better understand what’s an opportunity and what’s statistical noise.

The first thing to note is a big shift in volume. According to recent submarket reports, the contrast between the peak of 2021 and the reality of 2024-2025 is stark.

Starting with the North Shore, annual sales for new construction have seen a large-scale deceleration. In 2021, the market had 1,086 new home constructions. By 2024, that number has plummeted to just 245, a>75% decrease. Q3 2025 is continuing this trend of deceleration, with only 20 sales across all new home types in the area.

The numbers look similar in the Westside submarket. After its 2021 peak of 1,191 sales, sales volume has hit 360 in 2024. Q3 2025 has seen 71 sales in the area, which is similar to 2024 overall, not seeing as much deceleration as the North Shore.

However, sales volume doesn’t tell the whole story. Both supply and demand play a role, as does speculation and global shifts. There’s a lot of uncertainty in North American markets at the moment, with tariffs, changing Canada-US relations, fluctuating interest rates, and inflation. It appears many people are becoming more cautious financially, but no one knows what the best financial strategy will turn out to be.

"In the last 10 years, it would be hard for me to point to a time that's seen fewer new construction sales. However, buyers who are out now are shopping for value, and buyers can do well with some of the best value offerings we've seen in a while. Buyers need to be careful when looking at pricing and compare numbers in today's market, not list prices from 6 months ago — even with incentives. This is why presale and new construction buyers use our site and request specific details on the best projects in the market," says Chris Di Fazio, Project Marketing Lead at Klein Group.

Now, let’s look at a direct comparison between the two markets for identifying what value each holds. The current pricing data shows a significant delta between the Westside and North Shore, particularly when it comes to concrete constructions.

In the Westside market, the average blended price per square foot (PSF) for High Rise stock sits at approximately $1,958, with some top-tier projects commanding upwards of $2,791 PSF.

Contrast this with the North Shore. There, the High Rise average blended price is significantly lower, at $1,438 PSF. However, looking at the Mid Rise category reveals even better value in North Shore, as the average blended price is hovering around $1,196 PSF.

This price gap, at least by these metrics, appears to be one of the best value propositions in the market currently, with a significant discount to buyers.

Market Snapshot: Average Blended Price Per Sq. Ft. (Q3 2025)

Reliable data is one of the only grounding metrics in a market full of speculation and fluctuating prices. A single presentation centre no longer gives an accurate view of the market, as buyers need more of a macro view.

Through their website kleinprojectmarketing.ca, Royal LePage Westside Klein Group allows consumers to search and compare over 1,200 presale and new construction projects throughout BC, track incentives, receive alerts on new projects, and receive new construction market reports.

Leveraged well, buyers can use the information to understand where the market might be headed and how inventories are changing. For example, despite a slow quarter in the North Shore, there are specific projects like Innova that have gained momentum, boasting 142 homes sold out of their total of 168. This might highlight the power of marketing, or of smart pricing in their particular market. Let’s take a closer look.

Finding a project that checks all the boxes is tough. Location, build quality, and price, most often if two are good, the third has some major concerns. But the Innova by Cascadia Green Development is one such project that stands out as an outlier in the current data.

Located in the desirable Lower Lonsdale area, Innova has already begun occupancy, so the ‘construction risk’ hurdle is already cleared. What you see is what you get with the project, unlike with presales.

Innova is also a modern approach to mixed-use living. With concrete construction at a lower price point, it offers 18,000 square feet of both retail and office space directly inside the development. For those who want more convenience and an interconnected community, it’s a smart bet.

But, perhaps its highest selling point is its amenities. The development has a 10,000 square foot rooftop deck with views of the city, which has proven to be a great attraction, as well as other amenities throughout.

Despite a general market slowdown, by offering diverse, lifestyle-focused community features at a good price point, Innova has been able to reach higher sales targets than most other developments across Vancouver.

"This is a great opportunity in this transitioning market, for buyers looking for concrete in Lower Lonsdale to take advantage of a building quality that likely could not be built again at this price point," says Di Fazio.

With rising costs of materials and labor that are likely to continue for now, Di Fazio’s point makes sense. To replicate a concrete mid-rise with this amount of space and amenities, space will likely require a much higher price per square foot than what Innova is currently offering.

To download details and compare Innova to other new construction projects in North Vancouver and West Vancouver visit: www.kleinprojectmarketing.ca

This is a buyer’s market. That is, if you have the means, the current market is to the advantage of buyers as they have the leverage of low demand pushing inventory prices down. Looking at the numbers, the pricing in specific submarkets like the North Shore seems to offer the best genuine value for the price, but there are opportunities everywhere.

If you’d like to further explore the available options, such as the Innova rooftop here at Liv in NoVa you can compare it with 1,200+ other projects at Klein Project Marketing, www.kleinprojectmarketing.ca. In a market that has been pushed around by high uncertainty over recent years, data and professional guidance are the best solid ground on offer.