Greetings!

2025 delivered the lowest annual Metro Vancouver sales total in more than two decades!

The total home supply in Metro Vancouver in 2025 is up 14.6% over December 2024 and that is 34.8% above the 10 year seasonal average while sales were down 12.9% from December 2024 and that is down 20.7% below the 10 year seasonal average.

These Metro Vancouver stats get a lot of press and are distinct from the west side market stats but we are facing similar trends here on the west side.

Westside home sales, when compared to the 10-year averages, are down by 4% for detached homes, down 16% for apartments and up by 20% for townhomes.

Compared to the 10-year average, supply is up 11% for Westside detached homes, while apartment supply is up 30%, and townhomes are up 68%.

We had 49 Westside Detached home sales in December, down 13%, compared to 56 sales last month.

We had 201 Westside Apartment sales in December, down 23% compared to 262 sales last month.

We had 36 Westside Attached home sales in December, down 10% compared to 40 sales last month.

In December the Westside Detached Home average price was $3.469M, down 27% from $4.744M, the peak, in August 2023.

The Attached home average price was $1.695M, down 10% from $1.885M, the peak, in Dec 2024.

The Apartment average price was $877K, down 27% from $1.199M, the peak, in January 2018.

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.

Market conditions are dynamic and can change rapidly due to various economic factors & the ratio can vary significantly depending on the property type.

Currently the SALR for Westside detached homes is 8.2%, attached is 9.6% and apartments is 14.3%.

Supply is up, demand is down, prices are well off the peak and borrowing costs are down.

This is a buyers' market and a good opportunity to get into the market or to move up in the market. We expect the market to remain slow through January but if the market turns up, buyers will rush in, so now is a good time to buy while supply remains stable.

Sellers need to be the best value in their cohort to attract a buyer so strategic pricing is the key to achieving a sale.

Thinking of Selling? Let’s Talk!

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

Happy New Year! 🎉🥳

Best regards

Stuart ⛳ 🎾

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

• Supply:
• In December, the supply of Westside detached homes decreased 16% compared to November, with a total of 600 homes available, down from 715.
• This is an increase of 5% compared to December 2024 when there were 570 homes on the market.
• Demand:
• Sales of Westside detached homes in December were down 13% from November, with 49 homes sold.
• Sales were up 7% compared to December 2024, which had 46 sales.
• The number of sales remains 4% lower than the ten-year average of 51 sales.
• Sales to Active Listings Ratio (SAL):
• The SAL in December increased by 4% from the previous month, with a current SAL of 8.2% compared to 7.8% in November.
• The SAL is basically unchanged from December 2024.
• 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 December decreased 23% and median decreased 22% from August 2023's peak.
• The average price is $3.469 million, and the median price is $3 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 December ranged from a low of $1.55 million to a high of $8.8 million. The most expensive property took 396 days to sell, while the least expensive took 248 days!
• Of the 49 homes sold, only 3 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 December shedding light on changes in supply, demand, pricing, and notable sale prices.

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

• Supply:
• In December, the supply of Westside apartments was down 18% compared to November, with a total of 1,402 apartments available for sale.
• This number is down by 6% from December 2024.
• Demand:
• Demand for Westside apartments decreased by 23% in December with 201 sales compared to 262 sales in November.
• The number of sales in December was down 9% from the same month last year, which had 221 sales.
• Apartment sales are down 16% from the ten-year average of 238 sales.
• Sales to Active Listings (SAL):
• The SAL in December decreased by 7% compared to November, to 14.3%.
• This is a decrease of 4% from the SAL of 14.9% in December 2024.
• 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 December decreased 14% from November, with the average price at $877K
• It was down 21% from December 2024.
• The median price was down 13% at $726K and is down 16% from December 2024.
• Average prices are down 27% below the peak of $1,199,000 in January 2018, and median prices are 18% below the peak of June 2024.

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

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

• Supply:
• In December, the supply of Westside townhouses decreased 22% compared to November, with a total of 345 townhouses available for sale.
• The supply was up 14% from December 2024, which had 302 townhouses on the market.
• Demand:
• The demand for townhouses in December decreased by 10%, with 36 sales.
• The number of sales in December decreased by 8% from the same month last year, which had 39 sales.
• Attached home sales are 20% above the ten-year average of 30 sales.
• Sales to Active Listings (SAL):
• With a decrease in supply and decrease in demand, the current SAL for townhouses increased by 15%, to 10.4%
• This is 19% lower than the SAL of 12.9% in December 2024.
• 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 December was $1.696 million, down 5% from November.
• It was down 10% from December 2024 when the average price was $1.885 million.
• The median price in December was $1.724million, a 2% decrease from November ($1.75 million), and down 7% from December 2024.
• Average prices for townhouses are down 10% from its peak. Median prices down 7% 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 December, indicating changes in supply, demand, pricing, and their respective trends over time.