The North Vancouver commercial real estate market in 2025 is defined by selective strength rather than broad‑based growth. Year‑to‑date transaction volume is down about 19% compared to the same period in 2024, with most of the activity concentrated in retail and industrial. Multifamily and development land are going through a price and volume reset. Within the broader Metro Vancouver context of higher but stabilizing interest rates, North Vancouver’s constrained land base and