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Metro Vancouver Market Update
Where Is Each Market?
Buyers Market: below 12% | Balanced: 12–20% | Sellers Market: above 20%. Sustained periods drive price direction. Sales 22.9% below 10-year seasonal average of 2,735.
Benchmark Prices
| Property Type | Benchmark Price | MoM Change | YoY Change | April Sales |
|---|---|---|---|---|
| All Residential | $1,098,000 | -0.6% | -6.9% | 2,110 |
| Detached | $1,840,700 | -0.8% | -8.3% | 659 ▲14% |
| Townhouse | $1,043,400 | -0.4% | -5.1% | 433 ▼2% |
| Apartment | $703,000 | -0.5% | -7.9% | 1,009 ▼10.7% |
“Sales 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’re seeing is just a blip in the data.”
Sub-Market Benchmark Snapshot
| Area | Benchmark | 1 Mo | 3 Mo | 1 Year |
|---|---|---|---|---|
| Greater Vancouver | $1,098,000 | -0.6% | -0.3% | -6.9% |
| North Vancouver | $1,320,500 | +0.7% | +2.4% | -2.4% |
| West Vancouver | $2,221,800 | -7.3% | -3.1% | -12.8% |
| Port Coquitlam | $893,000 | -1.5% | -0.4% | -6.1% |
| Pitt Meadows | $861,000 | -2.0% | +0.5% | -7.0% |
| Maple Ridge | $919,900 | 0.0% | 0.0% | -7.0% |
| Port Moody | $1,029,100 | -0.5% | -1.1% | -4.7% |
| Coquitlam | $998,300 | -0.3% | -0.2% | -7.0% |
| Vancouver East | $1,144,900 | -1.3% | +0.2% | -6.6% |
| Vancouver West | $1,225,700 | +0.9% | +0.5% | -7.7% |
| Richmond | $1,047,200 | -1.0% | -0.9% | -8.4% |
| Burnaby North | $915,500 | +0.3% | -1.4% | -8.3% |
| New Westminster | $742,600 | -0.5% | -0.9% | -8.9% |
| Sunshine Coast | $768,000 | -3.4% | -3.8% | -3.4% |
| Squamish | $1,078,400 | -2.3% | -3.9% | -3.5% |
Source: GVR MLS® Home Price Index — April 2026. All figures CAD.
Vancouver East & West Deep Dive
What’s Hot & What’s Not
Tips for Buyers & Sellers
Forecast: 3-Month & 12-Month
Detached Leads Into Summer. Watch for Multi-Family to Follow.
GVR’s chief economist flagged the possibility of pent-up demand re-entering the market heading into summer. If that materializes, it will likely hit the detached segment first given its current momentum. Condos and attached face a harder path — inventory remains elevated and buyer activity is subdued. Prices across all segments are expected to remain relatively flat month-over-month absent a significant catalyst. The key question for Q3: do multi-family buyers re-activate, or does the divergence widen further?
Gradual Recovery Contingent on Rate Environment & Demand Re-Entry.
The structural case for Metro Vancouver housing remains intact — constrained supply relative to long-term demand, a strong labour market, and continued population growth. The missing ingredient is buyer confidence, particularly in the multi-family segment. If the Bank of Canada continues easing and bond yields stabilize, the second half of 2026 could see a meaningful uptick in apartment and townhome demand. Detached pricing is likely to recover first given the emerging supply/demand tightening already visible in the data. The 12-month downside risk remains geopolitical and rate-driven.
Best Practices This Month
Two consecutive months of YoY sales growth in detached is not noise. Buyers who’ve been waiting have company — if momentum builds into summer, the window narrows. Make the call today.
The detached vs. multi-family split is the most powerful market narrative right now. Pull the specific numbers for your farm area. Your clients need to understand this isn’t one market — it’s several.
Detached up 13.4%, townhomes up 40.9%, condos at $664,800. If you have clients priced out of the West Side, Vancouver East is a compelling alternative with real momentum behind it.
16,236 active listings — 37.9% above the 10-year average. Your condo and apartment sellers need to hear the real number, not the aspirational one. Set expectations now, not after 30 days on market.
If pent-up demand activates in Q3 as GVR’s economist suggested, early action matters. Identify your buyer prospects now and have a plan to reach them before competitors do.
Total demand is 22.9% below seasonal average. Every listing competes against 16,236 others. Professional photography, staging, and digital marketing aren’t extras — they’re baseline requirements.
This market update is for professional use by licensed REALTORS®. Verify data with official GVR sources.
© 2026 Century 21 In Town Realty. Not for redistribution without permission.
