Home sales across Metro Vancouver remain relatively stable year-over-year, but a clear shift is underway beneath the surface—different property types are moving in different directions.
In April, there were 2,110 home sales, down just 2.5% from last year, but still nearly 23% below the 10-year average, reflecting a market that remains cautious overall.
What stands out is the growing divide between detached homes and multi-family properties:
- Detached homes:
Sales up 14% year-over-year — showing renewed buyer confidence - Apartments:
Sales down 10.7% — continued hesitation in the condo segment - Townhomes:
Slight decline of 2%
This trend is widespread across the region, suggesting it’s not a short-term anomaly but a meaningful shift in buyer behavior.
Inventory & Market Balance
- New listings: 6,684 (slightly down 2.4% YoY, but above average)
- Active listings: 16,236 (+37.9% above the 10-year average)
- Sales-to-active ratio: 13.5% overall
By property type:
- Detached: 11.3%
- Townhomes: 15%
- Condos: 14.7%
➡️ A balanced market typically sits between 12%–20%
➡️ We are currently on the lower end, with some downward pressure on prices
Prices
- Overall benchmark price: $1,098,000
- ↓ 6.9% year-over-year
- ↓ 0.6% month-over-month
By segment:
- Detached: $1,840,700 (↓ 8.3% YoY)
- Condos: $703,000 (↓ 7.9% YoY)
- Townhomes: $1,043,400 (↓ 5.1% YoY)
Prices have remained relatively stable month-to-month, but are down compared to last year.
What This Means
- Detached homes may be leading the market recovery, acting as a bellwether for future activity
- Buyers remain selective, especially in the condo market where inventory is higher
- Supply is elevated, which is keeping price growth in check
- If buyer demand strengthens heading into summer, we could see inventory tighten and conditions shift
Strategy Moving Forward
For Sellers:
- Pricing remains critical—buyers have options and are value-driven
- Detached homes currently have stronger momentum
- Condos/townhomes need to stand out (pricing, presentation, marketing)
For Buyers:
- More choice and negotiating power than we’ve seen in recent years
- Opportunity to enter the market before potential momentum builds
- Detached segment may move first—timing matters
Download GVR’s April 2026 MLS® Housing Market Report
