Vancouver Housing Market
April 2026
Breaking down the March 2026 GVR data — Vancouver East, Vancouver West & North Vancouver.
The Wait-and-See Market Continues
🌸 Spring arrived in March, but Vancouver's housing market hasn't fully woken up to match the season. Sales came in at 2,032 — down 2.8% from last March and sitting a significant 31.8% below the 10-year seasonal average. With buyers and sellers both stuck in a wait-and-see posture, the market remains in a holding pattern, though some interesting divergences are starting to emerge under the surface.
The macro picture continues to weigh on confidence. The Bank of Canada held its overnight rate at 2.25% on March 18th — its third consecutive hold — signalling that the aggressive rate-cutting cycle that ran through 2025 has likely reached its floor. Meanwhile, ongoing global uncertainty is pushing bond yields higher, pulling 5-year fixed mortgage rates back toward the 4%+ range. That's an important headwind heading into what should be the strongest selling season of the year.
🧭 Where Does the Market Stand?
On inventory: 5,792 new listings came to market in March — down 10.3% from last year — but because buyers aren't absorbing them quickly, total active listings rose to 14,774, sitting 38% above the 10-year average. Sellers are pulling back, but not fast enough to tighten the market meaningfully. As GVR's chief economist Andrew Lis noted, we're not seeing prices move significantly in either direction — and the numbers confirm exactly that.
📊 Metro Vancouver — Price Snapshot
Source: Greater Vancouver Realtors (GVR) March 2026 Statistics Package
Metro Vancouver by Property Type
| Property Type | March Sales | Benchmark Price | MoM | YoY |
|---|---|---|---|---|
| 🏠 Detached | 571 ⬆ 8.3% | $1,854,800 | ⬆ 1.0% | ⬇ 8.2% |
| 🏘️ Townhome | 446 ⬇ 5.5% | $1,047,100 | ⬆ 0.1% | ⬇ 5.7% |
| 🏢 Condo | 999 ⬇ 7.8% | $706,700 | ⬇ 0.2% | ⬇ 7.8% |
| All Residential | 2,032 | $1,104,300 | ⬆ 0.4% | ⬇ 6.8% |
📊 City of Vancouver — Key Stats
| Property Type | Area | Benchmark | YoY |
|---|---|---|---|
| 🏠 Detached | Vancouver West | $2,925,000 | ⬇ -13.8% |
| 🏠 Detached | Vancouver East | $1,699,600 | ⬇ -8.5% |
| 🏢 Condo | Vancouver West | $779,100 | ⬇ -8.3% |
| 🏢 Condo | Vancouver East | $669,700 | ⬇ -4.8% |
| 🏘️ Townhome | Vancouver West | $1,396,800 | ⬇ -5.2% |
| 🏘️ Townhome | Vancouver East | $1,044,000 | ⬇ -9.1% |
📊 North Vancouver — Key Stats
North Vancouver's composite benchmark is tracking at $1,311,000, down 3.9% year-over-year — consistent with the broader Metro softening trend. Inventory on the North Shore has been running well above its 10-year average, giving active buyers meaningful negotiating power.
| Property Type | Benchmark | MoM | YoY |
|---|---|---|---|
| 🏠 Detached | $2,115,400 | ⬆ +4.1% | ⬇ -5.3% |
| 🏢 Condo | $779,700 | ⬆ +1.4% | ⬇ -4.9% |
| 🏘️ Townhome | $1,255,800 | ⬆ +0.2% | ⬇ -4.3% |
🎯 What This Means For You
This is still one of the better negotiating environments we've seen in years — particularly for condos and townhomes. With inventory 38% above the 10-year average and prices down meaningfully from their peaks, qualified buyers have real leverage, especially on anything that's been sitting. Don't wait for perfect conditions; find the right product and negotiate hard.
Precision pricing is everything right now. Overpriced homes are sitting while well-priced ones are moving. If you're selling detached, there's a modest window of improving conditions — but buyers are still cautious and doing their homework. Come in sharp, present well, and don't count on the market to do the work for you.
🔭 Looking Forward
Most analysts expect another hold at 2.25%, but global bond pressure continues to pull 5-year fixed rates toward 4%+. Borrowing costs remain an elevated headwind heading into Q2 — don't expect this to ease materially before summer.
Sales were up 8.3% YoY in March — the only property type to post a year-over-year gain — while new detached listings declined. If that momentum carries into April and May, the supply-demand balance in that segment could shift before the summer slowdown. GVR's own economist flagged this divergence explicitly.
Inventory is elevated, sales are soft, and prices have continued their gradual drift lower. Unless rates drop materially or macro uncertainty clears, expect well-priced properties to move and everything else to sit through Q2.
Ready to Make Your Move?
Whether you're buying, selling, or just watching the market — let's build a strategy together.
📞 778-951-5853 ✉️ Email Luke
Luke Annunziello | Vancouver Realtor
About Luke
Luke is a real estate professional with a distinguished career as a realtor since 2019, specializing in the Greater Vancouver market. His expertise extends beyond traditional real estate services, as he possesses a comprehensive understanding of property renovations, accumulated over a period of seven years. Clients appreciate Luke for his friendly nature and ability to establish rapport, making complex transactions more accessible.
Luke is a part of the esteemed Saretsky group which is part of the top 1% of all realtors in Vancouver. This affiliation with the Saretsky group translates into a range of benefits for his clients. From market expertise and extensive networks to enhanced marketing capabilities and exclusive opportunities, Luke can provide a superior level of service and results for those seeking assistance in the competitive Vancouver real estate market.
When not doing real estate transactions you can find him playing hockey, snowboarding on the mountains or spending time with his wife and daughter. Whether navigating the dynamic Vancouver market or incorporating renovation insights into property dealings, Luke stands as a reliable and professional ally, ensuring a seamless and positive experience for his clientele.
Whether you're looking to buy or sell a property in North Vancouver or elsewhere in Vancouver, Luke is the agent you can trust to guide you through the process and achieve your goals.
