Vancouver home sales flatten, with market splintered by housing type

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.

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).

“Last month we noted that a divergence was emerging between sales trends in the detached and multi-family segments, which continued in April,” said Andrew Lis, GVR chief economist. “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 since the momentum isn’t isolated to small pockets of the market.”

Detached gains momentum, overall sales lag

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.

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.

The sales-to-active listings ratio sat at 13.5 per cent in April — just above the threshold typically associated with downward pressure on prices.

Prices flat as inventory keeps pressure on market

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.

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.

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.

Fraser Valley remains buyer’s market as inventory builds

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).

New listings rose six per cent month-over-month to 3,549, while active inventory climbed to 9,816 — up seven per cent from March and 45 per cent above the 10-year seasonal average.

The region remains in a buyer’s 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.

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.

Detached properties averaged 37 days on market, compared with 32 days for townhomes and 42 days for apartments.

Some sellers are still adjusting to the softer pricing environment, particularly those who bought near the peak several years ago.

“It’s a bit of a shock to people when they see that the value might not necessarily be where they expected it to be,” said Jeremy Bator of HouseSigma in Surrey.

“In this market, pricing is not about aiming high, it’s about being precise. If you chase the market, you lose leverage,” he said.

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