Greetings!

Highlights

• Sales remain below average across Metro Vancouver
• Supply is significantly higher than normal
• Westside remains a buyers’ market overall
• Detached prices down notably from peak, apartments also well below peak
• Demand improving slightly, but still price sensitive
• Strategic pricing is critical for sellers

Market Snapshot

March sales across Metro Vancouver 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 38% above the 10 year average.

On the Westside, sales versus 10 year averages are down 26% for detached homes and 34% for apartments, while townhomes are up 2%. Supply is higher across all segments, up 9% for detached, 23% for apartments, and 64% for townhomes.

Year over year, Westside detached sales increased to 63 (up 60%), apartments declined to 247 (down 15%), and attached homes rose to 59 (up 23%).

Pricing

Detached average price is $3.575M, down 25% from the 2023 peak.

Attached homes average $1.802M, down 4.4% from the 2024 peak.

Apartments average $917K, down 23% from the 2018 peak.

Market Balance

The sales to active listings ratio shows:

• Detached at 9.6% (buyers’ market)
• Attached at 14% (balanced)
• Apartments at 16% (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.

Generally, downward pressure on home prices occurs when the ratio dips below 12% for a period of time. Upward pressure on home prices occurs when the ratio surpasses 20% over several months.

Currently the SALR for westside Detached homes is 9.6%, Attached homes is 14% and Apartments is 16%.

Outlook

Historically, the market has cycled up in the spring, slowed down in summer, revived a bit in the fall and become quiet in the winter. Last year this cycle was disrupted by economic uncertainty, interest rate affordability, job security and global events that have combined to flatten out the demand for real estate. This year in February & March the demand has improved and the supply is relatively flat which is helping prices remain flat as well.

So while global uncertainty due to tariffs is becoming more normal/ diminished compared to 2025, the conflict in Iran is now creating uncertainty and putting upward pressure on bond yields and mortgage rates which in turn discourages demand for real estate.

Affordability is driving buyers to offer on well priced homes offering good value. Buyers are buying for a roof over their heads as opposed to speculation. Sellers who need to sell are adjusting their asking prices accordingly.

This is still a buyers' market and a good opportunity to get into the market or to move up. We expect the market to be steady and to slow a bit in 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.

Hope you had a nice Easter!  🐇.•*¨`*•.¸ 🐇.•*¨`*•. 🐇¸.•*¨`*•. 🐇

Best regards

Stuart ⛳ 🎾

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

• Supply:
• In March, the supply of Westside detached homes increased 5.5% compared to February, with a total of 655 homes available, up from 621.
• This is relatively unchanged compared to March 2025 when there were 659 homes on the market.
• Demand:
• Sales of Westside detached homes in March were up 19% from February, with 63 homes sold.
• Sales were up 29% compared to March 2025, which had 49 sales.
• The number of sales remains 26% lower than the ten-year average of 85 sales.
• Sales to Active Listings Ratio (SAL):
• The SAL in March increased by 13% from the previous month, with a current SAL of 9.6% compared to 8.5% in February.
• This is an increase of 30% from the SAL of 7.4% in March 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 March decreased 25% and median decreased 24% from August 2023's peak.
• The average price is $3.575 million, and the median price is $3.23 million.
• Current prices are down 8% on average and 2% on median from last month.
• High and Low Sale Prices:
• Westside detached home sales in March ranged from a low of $1.715million to a high of $8.775 million. The most expensive property took 17 days to sell, while the least expensive took 7 days.
• Of the 63 homes sold, only 5 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 March shedding light on changes in supply, demand, pricing, and notable sale prices.

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

• Supply:
• In March, the supply of Westside apartments was up 8% compared to February, with a total of 1,583 apartments available for sale.
• This number is down by 20% from March 2025.
• Demand:
• Demand for Westside apartments increased by 23% in March with 247 sales compared to 201 sales in February.
• The number of sales in March was down 15% from the same month last year, which had 292 sales.
• Apartment sales are down 34% from the ten-year average of 373 sales.
• Sales to Active Listings (SAL):
• The SAL in March increased by 14% compared to February, to 15.6%.
• This is an increase of 5.6% from the SAL of 14.8% in March 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 March was up 2.3% from February, with the average price at $917K v $896K.
• It was down 9.6% from March 2025.
• The median price was down 2.1% at $770K and is down 8% from March 2025.
• Average prices are down 24% below the peak of $1,199,000 in January 2018, and median prices are 13% below the peak of June 2024.

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

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

• Supply:
• In March, the supply of Westside townhouses increased 15% compared to February, with a total of 424 townhouses available for sale.
• The supply was up 1.4% from March 2025, which had 418 townhouses on the market.
• Demand:
• The demand for townhouses in March increased 44% from last month with 59 sales.
• The number of sales in March increased by 23% from the same month last year, which had 48 sales.
• Attached home sales are slightly above the ten-year average of 58 sales.
• Sales to Active Listings (SAL):
• With an increase in supply and an increase in demand since last month, the current SAL for townhouses increased by 25%, to 14%
• This is 21% higher than the SAL of 11.5% in March 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 March was $1.802 million, up 9.7% from February at $1.642 million.
• It was up 6% from March 2025 when the average price was $1.699 million.
• The median price in March was $1.55 million, down 6% from March ($1.65 million), and down 9% from March 2025.
• Average prices for townhouses are down 4.4% from its peak. Median prices down 16% 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 March, indicating changes in supply, demand, pricing, and their respective trends over time.