The market remains challenging as of the end of April with the Vancouver and Toronto areas continuing to be the worst hit.
However, in our area, the detached housing market shows some improvement. Something we usually don't see: a clear divergence is emerging in our market, based on property type. We have seen many properly priced houses selling quickly, sometimes with multiple offers, whereas condos and townhomes are not moving as well. As expected, the spring market is picking up, but it continues to amaze me how many buyers are still hesitant to buy in the multi-family segment, waiting for further price drops. On the flip side, detached homes are quietly gaining steam and buyers are stepping off the sidelines. We don't know yet whether things will continue to heat up in the detached market but for any buyer still renting or looking to move up in the market, most economists and financial advisors are suggesting they not delay-just in case.
As Andrew Lis, the chief economist for Greater Vancouver Realtors, notes: “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.”
If we look at the April 2026 numbers, last month in Greater Vancouver we saw:
- Sales of all types of properties were DOWN 2.5% from April 2025.
- Sales were 22.9% BELOW the 10-year seasonal average (2,735)
- The number of homes listed for sale last month was 16,236, which is
- UP 0.2% compared with April 2025. This is 37.9% higher than the 10-year average (11,773).
- The number of homes newly listed for sale was DOWN 2.4% from April 2025 and 15.5% OVER the 10-year average (5,785).
- Detached home sales were UP 14.0% from April 2025.
- The benchmark price for detached homes was DOWN 8.3% when compared to April 2025, and a 0.8% decrease compared to March 2026.
- The sales-to-active listings ratio overall for all types of homes was 13.5%; for detached homes the ratio is 11.3%. Prices trend downward when the ratio is below 12% for a sustained period.
For Buyers: You currently continue to have excellent leverage, many choices, and the time to breathe and negotiate without the pressure of a multiple offer frenzy except in rare situations. There is ample inventory to find a great property. However, this window will not stay open forever. The detached market is already showing strong signs of life, and if that momentum spills over into townhomes and condos, the opportunities we have been seeing for a while could quickly shift.
For Sellers: The message remains crystal clear: price it right, or be prepared to wait. Today's buyers are incredibly pragmatic. If you overprice your home, they won't write a low offer; they will ignore your listing and wait for you to drop the price. Even though prices have softened from their peak, it's vital to remember the silver lining: most homeowners have still made a LOT of tax free money over the years they have owned their property. Furthermore, if you are "moving up" to a larger or more expensive home, selling in a down market is actually highly beneficial for you. Remember: it is all about the "gap," not the price itself.
Whether you are considering a move this year or just want to understand how these latest trends affect your own property's value, I am happy to provide a current market valuation or assist with your future real estate planning.
Feel free to contact me anytime.