Diverging Trends Widen as Detached Housing Gains Steam

The latest data from Greater Vancouver REALTORS indicates that Metro Vancouver’s housing market remained relatively stable in April 2026, though notable differences are beginning to emerge between property types as the spring market progresses.

Market Overview

Residential sales totaled 2,110 in April 2026, representing a 2.5 per cent decrease compared to the 2,163 sales recorded in April 2025. Sales were also 22.9 per cent below the 10 year seasonal average, suggesting that overall demand remains subdued despite typical spring activity.

There were 6,684 newly listed detached, attached, and apartment properties added to the MLS® in April. This represents a 2.4 per cent decrease year over year, though it remains 15.5 per cent above the 10 year seasonal average, indicating that sellers continue to enter the market at a steady pace.

Total active listings reached 16,236, up 0.2 per cent compared to April 2025 and sitting nearly 38 per cent above the 10 year seasonal average. Elevated inventory levels continue to provide buyers with ample choice across all property types.

Sales to Active Listings Ratio

The overall sales to active listings ratio for April 2026 is 13.5 per cent. By property type:

• Detached homes: 11.3 per cent

• Attached homes: 15 per cent

• Apartments: 14.7 per cent

Historical trends suggest that when the ratio remains below 12 per cent for a sustained period, downward pressure on home prices can occur, while levels above 20 per cent may signal upward price pressure.

April’s figures reflect balanced market conditions overall, with the detached segment continuing to hover near buyer’s market territory.

MLS® Home Price Index

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,098,000. This represents a 6.9 per cent decrease compared to April 2025 and a 0.6 per cent decrease compared to March 2026, indicating that prices are softening slightly month over month.

Across property types, benchmark prices continue to show year-over-year declines. Detached homes experienced the largest adjustment, followed by apartments and attached homes.

• Detached: $1,840,700 (down 8.3% YoY)

• Apartments: $703,000 (down 7.9% YoY)

• Attached: $1,043,400 (down 5.1% YoY)

Sales & Listing Report Snapshot

Average Sale Price Per Square Foot:

What This Means Moving Forward

April’s data points to a market that remains balanced overall but is beginning to show clear segmentation in buyer demand. While inventory levels remain elevated, they continue to play a key role in keeping price growth in check.

Buyers still benefit from increased selection and negotiating power, particularly in the multi family segment. Meanwhile, sellers, especially in the apartment and townhouse markets, face ongoing competition and must be strategic with pricing and presentation.

Looking ahead, the recent momentum in the detached segment may signal a potential shift in broader market activity. If this trend continues and expands into other property types, it could gradually absorb excess inventory heading into the summer months.

However, broader economic factors including interest rates and overall consumer confidence will remain key drivers in determining whether this emerging momentum translates into a more active market in the months ahead.