Greetings!

Highlights

•  May sales demand in Metro Vancouver is almost 27% below the ten year average.
• Supply in Metro Vancouver is up almost 35% above the ten year average.
•  Prices are down in all segments compared to May 2025.
•  Westside remains a buyers’ market overall.
•  Westside supply is 7% above the ten year average.
• Demand is 19% below the ten year average but up 26% over last month.
•  Strategic pricing is critical for sellers as buyers are very price sensitive.

Market Snapshot

Westside, 10 year average sales are down 19% for detached homes and 26% for apartments while townhomes are down 3% from the 10 year average.

Westside supply is higher across all segments, up 7% for detached, 18% for apartments, and 65% for townhomes.

Year over year, Westside detached sales increased to 76 (up 58%), apartments declined to 272 (down 6%), and attached homes declined slightly to 63 (down 3%).

Pricing

Detached average price is $3.316M, down 30% from the 2023 peak.

Attached homes average $1.687M, down 11% from the 2024 peak.

Apartments average $996K, down 17% from the 2018 peak.

Market Balance

The sales to active listings ratio shows:

• Detached at 9.5% (buyers’ market)
•  Attached at 12.7% (balanced market)
•  Apartments at 15.4% (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. Buyers are competing for updated homes in move in condition. Demand is up in May while prices remain low, suggesting good value and an opportunity for buyers.

Apartment supply is down, but demand is down as well, keeping prices from running up. 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 on lower sales volumes.

Westside Townhouse supply is up 6% over last year and 38% over May 2024 and demand is up as well which is keeping prices steady. Many attractive half duplex and Multi development units 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 out and buying land value properties for conversion to new multi, duplex and single family homes. Sellers who need to move are adjusting pricing to meet the market and selling within 3 weeks.

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 possibly slow a bit into the summer.

Seller Takeaways

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

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 Father's Day!  👔❤️🏆

Best regards

Stuart ⛳ 🎾

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

• Supply:
• In May, the supply of Westside detached homes increased 2.7% compared to April, with a total of 721 homes available, up from 702.
• This is down 7.6% compared to May 2025 when there were 780 homes on the market.
• Demand:
• Sales of Westside detached homes in May were up 23.3% from April, with 76 homes sold.
• Sales were up 58% compared to May 2025, which had 48 sales.
• The number of sales remains 19% lower than the ten-year average of 93 sales.
• Sales to Active Listings Ratio (SAL):
• The SAL in May increased by 23% from the previous month, with a current SAL of 10.5% compared to 8.5% in April.
• This is an increase of 71% from the SAL of 6.2% in May 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 May decreased 30% and median decreased 33% from August 2023's peak.
• The average price is $3.316 million, and the median price is $2.829 million.
• Current prices are down 2.3% on average and 5.4% on median from last month.
• High and Low Sale Prices:
• Westside detached home sales in May ranged from a low of $1.46million to a high of $9.025 million. The most expensive property took 164 days to sell, while the least expensive took 18 days.
• Of the 76 homes sold, only 7 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 May shedding light on changes in supply, demand, pricing, and notable sale prices.

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

• Supply:
• In May, the supply of Westside apartments was up 3% compared to April, with a total of 1,764 apartments available for sale.
• This number is down by 16% from May 2025.
• Demand:
• Demand for Westside apartments was up 10% in May with 272 sales compared to 247 in April.
• The number of sales in May was down 6% from the same month last year, which had 290 sales.
• Apartment sales are down 26% from the ten-year average of 368 sales.
• Sales to Active Listings (SAL):
• The SAL in May increased by 7% compared to April, to 7.3%.
• This is an increase of 12% from the SAL of 13.7% in May 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 May was up 2.4% from April, with the average price at $996K v $973K.
• It was down 2.2% from May 2025.
• The median price was up 4% at $832K and is up 1.5% from May 2025.
• Average prices are down 17% below the peak of $1,199,000 in January 2018, and median prices are 6.3% below the peak of June 2024.

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

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

• Supply:
• In May, the supply of Westside townhouses increased 2.5% compared to April, with a total of 495 townhouses available for sale.
• The supply was up 6% from May 2025, which had 469 townhouses on the market.
• Demand:
• The demand for townhouses in May increased 14.5% from last month with 63 sales.
• The number of sales in May decreased by 3% from the same month last year, which had 65 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 increased by 12%, to 13%
• This is 8% lower than the SAL of 14% in May 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 May was $1.687 million, down slightly from April at $1.675 million.
• It was up 9.5% from May 2025 when the average price was $1.54 million.
• The median price in May was $1.61 million, down 5% from April ($1.7 million), and up 8% from May 2025.
• Average prices for townhouses are down 11% from its peak. Median prices down 13% 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 May, indicating changes in supply, demand, pricing, and their respective trends over time.