Greetings!

Highlights

• July sales demand in Metro Vancouver is 18.6% below the ten year average.
• Supply in Metro Vancouver is 26.8% above the ten year average.
• Metro prices are down in all segments compared to July 2025.
• Westside remains a buyers’ market overall.
• Westside supply is 3% above the ten year average.
• Demand is 7% below the ten year average but up 10% 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 7% for detached homes, 25% for apartments and 4% for townhomes.

Westside Supply is up from the 10 year average by 3% for detached homes, 10% for apartments, and 61% for townhomes.

Year over year, Westside detached sales increased to 67 (up 10%), apartments declined to 245 (down 16%), and attached homes increased to 48 (up 14%).

Pricing

Detached house average price is $3.283M, down 31% from the 2023 peak.

Apartments average price is $977K, down 19% from the 2018 peak.

Attached homes average price is $1.51M, down 20% from the 2024 peak.

Market Balance

The sales to active listings ratio shows:

•  Detached at 9.6% (buyers’ market)
•  Attached at 10.1% (buyers' market)
• Apartments at 14.4% (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 9.6% allowing prices to decline. The SAL ratio for attached homes is rising at 10%, barely sustaining prices and the SAL ratio for apartments is level at 14%, balanced market territory, which is allowing prices to recover slightly.

Outlook

Westside detached homes value improves as prices decline. Buyers are competing for updated homes in move in condition. Supply & Demand are both down in July and prices remain low, suggesting a good opportunity for buyers. Successful sellers price sharply!

Apartment supply & demand are both down as well and that is turning prices from a slow rise in the spring to a slow decline over the last couple of months. Fewer new strata projects are coming to market as 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 for sale inventory will strengthen prices for apartment sales.

Westside Townhouse supply is up 12% over last year and 35% over July 2024 while demand is level which is causing prices to decline. The new R1-1 zoning is enticing 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. Builders are buying land value properties for conversion to new multi, duplex and single family homes with revenue suites & laneway homes. Sellers who need to move are pricing sharply to meet the market and selling within 3 weeks.

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

• Be the best value in your category
• Prepare the home properly: Declutter, Paint & Repair and Clean, Clean, Clean!
• Price strategically from the start

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 are having a great summer!

Best regards

Stuart ⛳ 🎾

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

• Supply:
• In July, the supply of Westside detached homes decreased 5.1% compared to June, with a total of 700 homes available, down from 738.
• This is down 9.3% compared to July 2025 when there were 772 homes on the market.
• Demand:
• Sales of Westside detached homes in July were down 9.5% from June, with 67 homes sold.
• Sales were up 9.8% compared to July 2025, which had 61 sales.
• The number of sales remains 7% lower than the ten-year average of 72 sales.
• Sales to Active Listings Ratio (SAL):
• The SAL in July decreased by 5% from the previous month, with a current SAL of 9.6% compared to 10% in June.
• This is an increase of 21% from the SAL of 7.9% in July 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 July decreased 31% and median decreased 31% from August 2023's peak.
• The average price is $3.283 million, and the median price is $2.9 million.
• Current prices are down 2% on average and down 6% on median from last month.
• High and Low Sale Prices:
• Westside detached home sales in July ranged from a low of $1.61million to a high of $6.35 million. The most expensive property took 644 days to sell, while the least expensive took 148 days.
• Of the 67 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 July shedding light on changes in supply, demand, pricing, and notable sale prices.

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

• Supply:
• In July, the supply of Westside apartments was down 4% compared to June, with a total of 1,706 apartments available for sale.
• This number is down by 16% from July 2025.
• Demand:
• Demand for Westside apartments was down 9% in July with 245 sales compared to 269 in June.
• The number of sales in July was down 16% from the same month last year, which had 292 sales.
• Apartment sales are down 25% from the ten-year average of 326 sales.
• Sales to Active Listings (SAL):
• The SAL in July decreased 6% compared to June, to 14.4%.
• This is relatively unchanged from the SAL of 14.3% in July 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 July was up 35% from June, with the average price at $977K v $951K.
• It was relatively unchanged from July 2025 ($972K).
• The median price was down 3% at $796K and is down 4% from July 2025.
• Average prices are down 19% below the peak of $1,199,000 in January 2018, and median prices down 10% below the peak of June 2024.

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

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

• Supply:
• In July, the supply of Westside townhouses was relatively unchanged 1.6% compared to June, with a total of 486 townhouses available for sale.
• The supply was up 12% from July 2025, which had 434 townhouses on the market.
• Demand:
• The demand for townhouses in July decreased 31% from last month with 48 sales.
• The number of sales in July increased 14% from the same month last year, which had 42 sales.
• Attached home sales are 4% below the ten-year average of 50 sales.
• Sales to Active Listings (SAL):
• With no change in supply and a decrease in demand since last month, the current SAL for townhouses decreased by 31%, to 9.9%
• This is 2% higher than the SAL of 9.7% in July 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 July was $1.509 million, down 14% from June at $1.745 million.
• It was down 6.6% from July 2025 when the average price was $1.615 million.
• The median price in July was $1.505 million, down 3% from June ($1.58 million), and down 2.1% from July 2025.
• Average prices for townhouses are down 20% from its peak. Median prices down 19% 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 July, indicating changes in supply, demand, pricing, and their respective trends over time.