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Greetings!
Highlights
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September demand in Metro Vancouver was 25% below the ten year average.
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Supply in Metro Vancouver in September was 24.3% above the ten year average.
- Metro prices are down in all segments compared to September 2025.
- Westside remains a buyersβ market overall.
- Westside supply of 708 is almost at the ten year average of 703 units.
- Demand is 22% below the ten year average and down 11% over last year.
- Strategic pricing is critical for sellers as buyers are very price sensitive.
Market Snapshot
Westside sales Demand is down from the 10 year average by 22% for detached homes, down 24% for apartments and down 4% for townhomes.
Westside Supply is at the 10 year average for detached homes, up 7% for apartments, and 72% for townhomes.
Year over year, Westside detached sales decreased to 48 (down 11%), apartments declined to 214 (down 5%), and attached homes increased to 44 (up 29%).
Pricing
Detached house average price is $3.2M, down 33% from the 2023 peak.
Apartments average price is $954K, down 20% from the 2018 peak.
Attached homes average price is $1.48M, down 22% from the 2024 peak.
Market Balance
The West Side sales to active listings ratio shows all segments in decline:
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Detached at 6.8% (buyersβ market)
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Attached at 8.3% (buyers' market)
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Apartments at 13% (balanced market)
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 the SAL ratio for westside detached homes is 6.8% allowing prices to decline. The SAL ratio for attached homes is 8%, not quite sustaining prices and the SAL ratio for apartments is level at 13%, balanced market territory, which is allowing prices to recover slightly from Dec & January.
Outlook
The lowest priced west side detached homes are being bought by investors and builders while most end users are competing for updated homes in move in condition.
Supply was up in September from August & Demand was flat in September so the SAL and prices continue to decline, creating good opportunities for buyers. Successful sellers are pricing sharply!
Apartment supply is also up in September and demand is down and that is turning prices from a slow rise in the spring to to a peak in August and off again this September. Fewer new strata apartment projects are coming to market as foreign buyer restrictions and zoning incentives favour rental construction. This is increasing rental supply, but it is resulting in a decline in the supply of apartments for sale. So while rents may need to adjust down to compete with the increase in rental supply, the decrease in βFor Sale" inventory should strengthen prices for apartment resales in the future.
Westside Townhouse supply also took a jump in September, up 19% over September last year and up 14% over last month, while demand is up 29% from September 2025 but down 21% from last month. The end result is that the SAL ratio is down which is causing prices to decline. The new R1-1 zoning is encouraging builders to create the many half duplex and Multi development units that are now on the market giving buyers more options.
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 pricing sharply to meet the market and are selling within 2 - 3 weeks. Builders are buying land value properties for conversion to new multi, duplex and single family homes with revenue suites & laneway homes.
Many of these units are sitting as the prices are not generating the anticipated profits for builders and Premier Eby is now contemplating a tax on these vacant and unsold units which will not help stimulate more building.
ο»ΏClick here for Westside Report
Buyer Takeaways
- This is a buyers' market and a good opportunity to get into a home or to move up.
- The market sales volume seems to have peaked in June and has come off as is typical in July & August which is a sign for buyers to get buying.
Seller Takeaways
- To sell successfully, be the best value in your category
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Prepare your home properly: Declutter, Paint & Repair and Clean, Clean, Clean!
- Price strategically from the start!
Thinking of Buying or Selling? Letβs Talk!
π Call me today to discuss your options and make the most of the upcoming selling season.
Happy Thanksgiving! ππ¦π½π₯§π
Best regards
Stuart β³ πΎ
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