Greetings!

Highlights

• April sales demand remain below average across Metro Vancouver
• Supply is significantly higher than normal
• Prices are down in all segments.
• Westside remains a buyers’ market overall
• Demand improving slightly, but still price sensitive
• Strategic pricing is critical for sellers

Market Snapshot

Metro Vancouver sales in April continued a slower trend, down 2.8% year over year and 31.8% below the 10 year average.

Supply is up 1.6% year over year and is 38% above the 10 year average.

Westside, 10 year average sales are down 36% for detached homes and 26% for apartments while townhomes are at the 10 year average.

Westside supply is higher across all segments, up 9% for detached, 22% for apartments, and 67% for townhomes.

Year over year, Westside detached sales increased to 60 (up 18%), apartments declined to 247 (down 24%), and attached homes rose to 55 (up 2%).

Pricing

Detached average price is $3.396M, down 28% from the 2023 peak.

Attached homes average $1.675M, down 11% from the 2024 peak.

Apartments average $973K, down 19% from the 2018 peak.

Market Balance

The sales to active listings ratio shows:

• Detached at 8.5% (buyers’ market)
• Attached at 11.4% (buyer's market)
• Apartments at 14.4% (balanced)

The Sales to Active Listings ratio (SALR) is a key indicator of market balance and it helps determine whether the market favours Buyers or Sellers. The range between 12% and 20% is considered a balanced market and prices are sustained.

Downward pressure on home prices occurs when the SAL ratio dips below 12% for a period of time. Upward pressure on home prices occurs when the ratio trends up and particularly when it surpasses 20% over several months.

Currently SAL ratios for westside detached homes are low keeping prices on the decline. SAL ratios for attached homes are trending up and apartments SAL ratios are already in balanced market territory which is allowing prices to recover slightly in those segments.

Outlook

Westside detached homes continue to offer solid value, with demand partly driven by redevelopment potential. This includes duplex projects on 33 ft lots and multi unit developments on 50 ft plus lots. Half duplex homes around 1,550 sq ft with three bedrooms are asking about $2.5M, though developer margins remain unclear. Larger multi unit projects face challenges, particularly around parking. The city does not require parking and restricts underground options in R1-1 zones, which may limit appeal for $2M plus buyers.

Apartment supply is down, but demand has softened further, keeping prices flat. Fewer new strata projects are coming to market as incentives favour rental construction. This should increase rental supply, though rents may need to adjust to attract tenants. Limited for sale inventory is helping support pricing.

Affordability remains a key driver. Buyers are focused on well priced homes that offer real value, with less emphasis on speculation. Sellers who need to move are adjusting pricing to meet the market.

Buyer Takeaways

• This is still a buyers' market and a good opportunity to get into the market or to move up. We expect the market to remain steady and to maybe slow into the summer

Seller Takeaways

• Be the best value in your category
• Price strategically from the start
• Prepare the home properly: clean, declutter, and address repairs

Thinking of Buying or Selling? Let’s Talk!

📞 Call me today to discuss your options and make the most of the upcoming selling season.

Happy Mother's Day!  👑💖MAMA

Best regards

Stuart ⛳ 🎾

Detailed information on the Westside detached homes market in April. Here's a summary of the key points:

• Supply:
• In April, the supply of Westside detached homes increased 7.2% compared to March, with a total of 702 homes available, up from 651.
• This is down 4.6% compared to April 2025 when there were 736 homes on the market.
• Demand:
• Sales of Westside detached homes in April were down 4.8% from March, with 60 homes sold.
• Sales were up 18% compared to April 2025, which had 51 sales.
• The number of sales remains 36% lower than the ten-year average of 93 sales.
• Sales to Active Listings Ratio (SAL):
• The SAL in April decreased by 11% from the previous month, with a current SAL of 8.5% compared to 9.6% in March.
• This is an increase of 23% from the SAL of 6.9% in April 2025.
• An SAL between 12% to 20% is typically considered a balanced market, where prices tend to remain relatively stable.
• Pricing:
• The average detached home price in April decreased 28% and median decreased 29% from August 2023's peak.
• The average price is $3.396 million, and the median price is $2.99 million.
• Current prices are down 5% on average and 7% on median from last month.
• High and Low Sale Prices:
• Westside detached home sales in April ranged from a low of $1.406million to a high of $8.106 million. The most expensive property took 14 days to sell, while the least expensive took 286 days.
• Of the 60 homes sold, only 10 sold at or above their asking price, indicating a buyer's market.

These statistics provide a comprehensive overview of the Westside detached homes market in April shedding light on changes in supply, demand, pricing, and notable sale prices.

Detailed information on the Westside apartment market in April. Here's a summary of the key points:

• Supply:
• In April, the supply of Westside apartments was up 9% compared to March, with a total of 1,719 apartments available for sale.
• This number is down by 17% from April 2025.
• Demand:
• Demand for Westside apartments was unchanged in April with 247 sales which was the same in March.
• The number of sales in April was down 24% from the same month last year, which had 324 sales.
• Apartment sales are down 26% from the ten-year average of 333 sales.
• Sales to Active Listings (SAL):
• The SAL in April decreased by 8% compared to March, to 14.4%.
• This is an decrease of 8% from the SAL of 15.6% in April 2025.
• An SAL between 12% to 20% is typically considered a balanced market, where prices tend to remain relatively stable.
• Prices:
• The average price of Westside apartments in April was up 6% from March, with the average price at $973K v $917K.
• It was down 6.4% from April 2025.
• The median price was up 4% at $800K and is down 6% from April 2025.
• Average prices are down 19% below the peak of $1,199,000 in January 2018, and median prices are 10% below the peak of June 2024.

These statistics provide a comprehensive picture of the Westside apartment market in April, highlighting changes in supply, demand, pricing, and their respective trends over time.

Detailed information on the Westside townhouse market in April. Here's a summary of the key points:

• Supply:
• In April, the supply of Westside townhouses increased 14% compared to March, with a total of 483 townhouses available for sale.
• The supply was up 26% from April 2025, which had 385 townhouses on the market.
• Demand:
• The demand for townhouses in April decreased 7% from last month with 55 sales.
• The number of sales in April increased by 2% from the same month last year, which had 54 sales.
• Attached home sales are at the ten-year average of 55 sales.
• Sales to Active Listings (SAL):
• With an increase in supply and an increase in demand since last month, the current SAL for townhouses decreased by 18%, to 11%
• This is 19% lower than the SAL of 14% in April 2025.
• An SAL between 12% to 20% is typically considered a balanced market, where prices tend to remain relatively stable.
• Prices:
• The average price of townhouses in April was $1.675 million, down 7% from March at $1.802 million.
• It was relatively unchanged from April 2025 when the average price was $1.661 million.
• The median price in April was $1.7 million, up 10% from March ($1.55 million), and up 17% from April 2025.
• Average prices for townhouses are down 11% from its peak. Median prices down 8.4% from its peak. The average peak of $1.885 million in Dec 2024, and the median peak of $1.855 million in Dec 2024.

These statistics provide a comprehensive overview of the Westside townhouse market in April, indicating changes in supply, demand, pricing, and their respective trends over time.