Home sales in Metro Vancouver held relatively steady in April, but a growing divide between detached homes and multi-family properties is shaping the market.<\/p>\n
Residential sales totalled 2,110 units, down 2.5 per cent from April 2025 and nearly 23 per cent below the 10-year seasonal average, according to Greater Vancouver Realtors (GVR).<\/p>\n
\u201cLast month we noted that a divergence was emerging between sales trends in the detached and multi-family segments, which continued in April,\u201d said Andrew Lis, GVR chief economist. \u201cSales of detached homes have been gaining year-over-year, while sales in the multi-family segment have declined, and this pattern is consistent across most areas. The fact this pattern is so broad-based reduces the likelihood what we\u2019re seeing is just a blip in the data since the momentum isn\u2019t isolated to small pockets of the market.\u201d<\/p>\n
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Detached gains momentum, overall sales lag <\/p>\n
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Sales of detached homes rose 14 per cent year-over-year to 659 units in April, even as apartment sales fell 10.7 per cent to 1,009 units and attached sales edged down two per cent to 433.<\/p>\n
New listings totalled 6,684 units, down 2.4 per cent from last year but still 15.5 per cent above the 10-year average. Total inventory reached 16,236 units, up slightly from a year ago and nearly 38 per cent above long-term norms.<\/p>\n
The sales-to-active listings ratio sat at 13.5 per cent in April \u2014 just above the threshold typically associated with downward pressure on prices.<\/p>\n
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Prices flat as inventory keeps pressure on market <\/p>\n
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The composite benchmark price for all residential properties was $1,098,000 in April, down 6.9 per cent from a year earlier and 0.6 per cent from March.<\/p>\n
Detached benchmark prices fell 8.3 per cent year-over-year to $1,840,700, while apartment prices dropped 7.9 per cent to $703,000. Townhouse prices declined 5.1 per cent to $1,043,400.<\/p>\n
Lis said prices have remained relatively flat month-over-month as higher inventory levels limit upward pressure, but added the detached segment may be signalling a shift.<\/p>\n
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Fraser Valley remains buyer\u2019s market as inventory builds <\/p>\n
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In the Fraser Valley, sales totalled 1,118 in April, up 11 per cent from March and seven per cent higher than a year earlier, according to the Fraser Valley Real Estate Board (FVREB).<\/p>\n
New listings rose six per cent month-over-month to 3,549, while active inventory climbed to 9,816 \u2014 up seven per cent from March and 45 per cent above the 10-year seasonal average.<\/p>\n
The region remains in a buyer\u2019s market, with a sales-to-active listings ratio of 11 per cent, below the 12 to 20 per cent range typically associated with balanced conditions.<\/p>\n
Benchmark prices showed mixed movement. The composite price rose 0.1 per cent from March to $899,200, but remained lower year-over-year. Detached prices fell 8.8 per cent annually to $1,374,800, while townhomes dropped 7.4 per cent to $771,600. Apartment prices edged up 0.4 per cent month-over-month to $491,000 but were down 8.3 per cent from April 2025.<\/p>\n
Detached properties averaged 37 days on market, compared with 32 days for townhomes and 42 days for apartments.<\/p>\n
Some sellers are still adjusting to the softer pricing environment, particularly those who bought near the peak several years ago.<\/p>\n
\u201cIt\u2019s a bit of a shock to people when they see that the value might not necessarily be where they expected it to be,\u201d said Jeremy Bator of HouseSigma in Surrey.<\/p>\n
\u201cIn this market, pricing is not about aiming high, it\u2019s about being precise. If you chase the market, you lose leverage,\u201d he said.<\/p>\n
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