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
As for the rest of the province …
Market Activity Endures Through Foreign and Domestic Headwinds
Vancouver, BC – May 11, 2026. The British Columbia Real Estate Association (BCREA) reports that 6,311 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in April 2026, down 1.9 per cent from April 2025. The average MLS® residential price in BC in April 2026 was up 0.8 per cent at $952,768 compared to $944,796 in April 2025.
Total MLS® residential sales dollar volume was $6.01 billion, down 1.1 per cent from the same time the previous year. BC MLS® unit sales were 25.38 per cent lower than the ten-year average for the month of April.
“Challenges in the local economy and labour market, combined with upward pressure on rates due to the ongoing oil supply shock, are continuing to suppress pent-up demand and weaken overall market activity,” said BCREA Chief Economist Brendon Ogmundson. “However, modest monthly gains (seasonally adjusted) in some regions hopefully depict the beginning of a broader stabilization in housing activity, underpinned by improved affordability conditions that should encourage prospective buyers to enter the market.”
Year-to-date, BC residential sales dollar volume is down 9.5 per cent to $18.7 billion, compared with the same period in 2025. Residential unit sales are down 7.6 per cent year-over-year at 20,059 units, while the average MLS® residential price is also down 2 per cent to $932,492.
For the complete statistics release, including detailed tables, click here.
