SALES
Compared to 1-year ago (Q1'25)
SFH Detached – sales down 9%. Prices down 1.1%
Townhouse – sales down 6%. Prices down 0.8%
Condo – sales down 18%. Prices down 0.4%
Takeaways:
- Boring. Flatline in prices in Q1. This IS good news! The heavy 1-year price reduction (7.8%) all occurred in Q2'25 to Q4'24; not now.
- Condo sales showing the most drastic change in demand.👇
In the last 12 months – Home Price Index (all assets): Notable INCREASES:
- Squamish SFH 4.0% increase. Note: last 3years Squamish HPI has increased by 14%. Burnaby East SFH saw 7.4% increase.
- Burnaby North saw the ONLY increase for townhouses; 1.2% increase.
(5.3% inc over last 3 years)
"If you own a condo/townhouse/SFH detached - just ask – I can give the performance of your city and neighbourhood over the last 3 month, 6 month, and 1-year"
The BEST sales performers: in Metro Vancouver (Q1‘25) vs Q1'26 🔥🔥
- New Westminster detached up 80%
- Vancouver West detached up 18.7%
- Port Moody townhouses up 14.8%
The WEAKEST sales performers in Metro Vancouver (Q1‘25) vs Q1'26 ❄️
- New Westminster townhouse down 30%
- Port Coquitlam detached down 32%
- Delta detached down 51.5%
- Port Coquitlam condos down 45.5%
After another rate hold, the sales volume has still continued to decrease drastically compared to Q1'25, but prices remain flat in Q1. Annual stats are the most dire, more recent quarterly are much stronger.
INVENTORY
If we are going to talk about sales we must also consider inventory levels.
New properties to market has slowed significantly to Q1'25. This means less options for Buyers. Less patience of Sellers, who choosing to take home off the market and have not returned.
Total Inventory:
April '25 - 14,546
April '26 - 14,774 inc of 1.6%
Compare to the 25% inc of homes for sale from Mar'24 to Mar'25. Only 1.6% this March.
38% higher than 10-year average of 10,704 properties for sale. Mar'25 was 47.6% above the 10-year average.
Sales-to-Active ratio reveal that detached homes are on the verge of a Sellers market, whereas townhouses and condos are on the verge of a Buyer’s market.
SALES vs INVENTORY - RATIO
If you need to sell before you buy, we will need a Strategy in place. The inventory to sales ration differ by city, asset and price point. Let's chat to see what the MICRO market sales/inventory ratio is waiting for you.
Across all of Metro Vancouver - 14.2
SFH - 11
Townhouse - 17.2
Condo - 15.7
What do these #'s mean?
0-11 - Buyer's Market,
12-19 - Balanced Market,
20+ - Seller's Market
Metro Vancouver is in a Balanced/Buyer Market
#1 lower rates have NOT stimulated the market. Prices have plateaued. Sales volumes down.
Best options for borrowers:
- A longer-term, fixed-rate mortgage (5yrs) are now more appealing to purchasers. There is limited expectation of further lower rates, therefore fixed mortgages are now a more realistic option. Variable mortgages can give some flexibility to benefit from rate changes, while securing one of the lowest rates available that we have seen for a couple of years.
- I just had a conversation with a data analyst for a local lender. Feedback is that the next 6-months are the final 6 months of the historical low mortgage rates to be renewed. This is the last Major Wave that the market has been waiting for. Watch out for more distressed sales.
For More Financial and Lending insight
Call Chad Eliason @ Quantus.
INVESTOR'S DEAL!
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