Detached Market Gains Momentum While Multi-Family Slows
Overall sales remained relatively flat year-over-year in April, but a clear divide is emerging between market segments. Detached home sales continue to strengthen across much of Metro Vancouver, while apartment and townhouse activity has softened.
MARKET TOTALS:
Sales – 2,110
▼2.5% YoY
▼22.9% vs 10-year average
New Listings – 6,684
▼2.4% YoY
▲15.5% vs 10-year average
Total Active Listings – 16,236
▲0.2% YoY
▲37.9% vs 10-year average
Benchmark Prices:
Detached: $1,840,700 (▼8.3% YoY | ▼0.8% MoM)
Apartments: $703,000 (▼7.9% | ▼0.5%)
Townhomes: $1,043,400 (▼5.1% | ▼0.4%)
Market Ratios:
Detached: 11.3% (Buyer’s / Balanced)
Apartments: 14.7% (Balanced)
Townhomes: 15.0% (Balanced)
Overall: 13.5%
💬 Detached homes continue to show improving momentum heading deeper into the spring market, while inventory levels across all segments remain elevated enough to keep prices relatively stable month-to-month. If detached demand continues to build, it could eventually pull more buyers back into the townhouse and condo markets as we move toward summer.
