Highlights of Dexter’s May 2026 report

• City of Vancouver sales improved year-over-year

• Fourth consecutive month of sales growth

• Detached market continues its run 

• Absorption of new listings is on the rise

Stability, Opportunity, and the Continued Return of Market Confidence

May delivered another month of encouraging signs across the Greater Vancouver real estate market. While headline sales figures remain below the exceptionally active markets experienced in 2023 and earlier periods, the story unfolding beneath the surface is one of resilience, improving buyer engagement, and a marketplace that continues to build a healthier foundation for long-term stability.

For the fourth consecutive month, sales activity increased from the previous month, demonstrating that buyers are out there despite ongoing economic uncertainty and elevated inventory levels. The steady progression from 1,648 sales in February to 2,032 in March, 2,110 in April, and 2,150 in May reflects a market that continues to gain momentum as consumers adjust to current conditions and recognize opportunities that were largely unavailable during the highly competitive years of the recent past.

Across Greater Vancouver, 2,150 home sales transacted in May, representing a modest 2% increase from April and a 30% increase from February. While sales remain below levels recorded in 2025 and 2024, activity is proving remarkably stable given the significantly larger inventory base now available to buyers. It’s taken time for prices to reach this point in the market, with some sellers now understanding what it takes to sell. 

Greater Vancouver sales in May were 27% below the 10-year average, after April was 23% below the 10-year average, March at 32% below the 10-year average and February at 29% below the 10-year average. This real estate market bounces around, but with each month of below average sales, the amount of pent-up demand just continues to grow. Buyers want to buy, and they will. 

Perhaps the most notable feature of today's market continues to be choice. Active listings finished May at 16,917 properties, up 4% from April and essentially unchanged from one year ago. This elevated inventory environment is creating opportunities across virtually every housing category and price segment. Add in unsold new home inventory, especially in Burnaby, Tri-Cities and North Delta/Surry, there is abundant choice. Buyers now have time to compare properties, conduct due diligence, negotiate terms, and make informed decisions without the intense pressure that characterized the market during the pandemic-era surge.

But choice doesn’t always last. New listings declined 9% from April and were down 7% compared to May of last year. This moderation in seller activity suggests that inventory growth may begin to stabilize in the coming months. While active listings are still elevated, the pace of new listings entering the market is slowing, creating conditions that could gradually improve overall market balance. With new construction at record low levels going forward, once the unsold inventory is sold, there will be a shortage again later in this decade which will put pressure on prices once again.

The sales-to-listings ratio improved to 34% from 31% in April, signaling stronger absorption and reinforcing the notion that demand continues to strengthen. Although Greater Vancouver remains technically in buyer's market territory with approximately eight months of inventory, the overall trend points toward a marketplace that is becoming increasingly active and efficient.

The number of new listings in May were 1% above the 10-year average after April was 15% above the 10-year average, March at 5% above the 10-year average, and February was 7% above the 10-year average. New listings slowed down in the latter half of May, helping the absorption rate increase to finish the month and keeping fewer listings from adding to the mix. Buyers may want to pay close attention to listings coming out in the coming months.

That decrease in supply had a predictable effect on market balance. Months of supply remained at 8 months. This keeps the region just into buyer’s market territory, and as we said last month, not all areas are behaving this way. There are some neighbourhoods and product types where there is scarcity resulting in more competition amongst buyers. The townhome market is an example of this.

The Core Market of Vancouver Continues to Lead

The City of Vancouver continued to demonstrate relative strength throughout May.

On the Westside, sales climbed to 414 transactions, representing a 13% increase from April and essentially matching activity from one year ago. Active listings remain elevated to 3,005 properties, but inventory is notably lower than last year's levels, something few other areas have shown. Combined with a reduction in new listings, this has helped months of supply improve from eight months to seven months, bringing the market firmly into balanced territory.

The Westside's performance is significant because luxury and higher-priced segments often serve as an early indicator of broader market confidence. Buyers appear increasingly willing to move forward with purchasing decisions as pricing stabilizes and financing conditions become more predictable.

The East Side also posted another strong month, with sales rising to 267 transactions. Activity was up 9% year-over-year and continued the positive trajectory established earlier this spring. Inventory remained virtually unchanged from last year, while new listings declined substantially from April. The result is a balanced market with six months of inventory and improving absorption rates.

North Shore Surged Ahead in May

North Vancouver emerged as one of the stronger performers across the region during May. Sales surged 25% compared to April and were 10% higher than one year ago. Inventory remains relatively contained, and months of supply improved to five months, placing North Vancouver among the most balanced markets in Greater Vancouver.

West Vancouver presents a very different picture. Sales declined to 45 transactions while inventory increased to 708 active listings. Months of supply expanded to 16 months, maintaining firmly established buyer's market conditions. However, it is important to recognize that West Vancouver often operates independently from broader market trends due to its luxury-oriented housing stock and international buyer influences. 

Richmond Continues to Normalize

Richmond experienced a modest pullback in sales during May, declining 7% from April to 227 transactions. Despite this, activity remains substantially higher than levels recorded earlier this year, with sales increasing nearly 60% from February.

Inventory expanded modestly to 2,067 active listings, while new listings declined 12% compared to May of last year. This combination suggests that while buyers remain cautious, sellers are also becoming increasingly selective about bringing properties to market.

Burnaby Navigates a Supply-Rich Environment

Burnaby continues to experience varying conditions across its submarkets.

Burnaby North remains the region's largest Burnaby market and recorded 121 sales during May. While activity softened compared to last year and last month, inventory remains stable and new listings have continued to arrive at a healthy pace. The result is an environment where buyers enjoy significant selection and negotiating leverage.

Burnaby South demonstrated stability, matching April's sales total while maintaining steady absorption levels. Elevated inventory continues to provide opportunities for buyers seeking detached homes, townhomes, and condominiums throughout the area.

Burnaby East experienced a quieter month, with sales declining to 19 transactions. While inventory remains relatively manageable, buyer activity has yet to recover to historical norms.

Overall, Burnaby's markets continue to offer some of the strongest opportunities for buyers seeking value within proximity to Vancouver's urban core. With close to 4,000 released and unsold new development units in Burnaby adding to the mix of resold homes, buyers should take a good look at Burnaby.

Stability in New Westminster

The Royal City saw sales levels at the same levels as April and slightly below May of last year while inventory remains stable as well. New listing inventory dropped in May which resulted in a higher absorption rate and creating more competition than other areas.

Tri-Cities Balancing Through Increased Inventory

The Tri-Cities region continues to transition toward more balanced conditions following several years of extraordinary demand.

Coquitlam recorded 165 sales in May, down from April while inventory expanded to 1,418 active listings. Although sales remain below historical highs, demand remains relatively consistent although a lower absorption rate is pushing up active listings.

Port Moody experienced softer activity, with sales declining to 48 transactions. However, the substantial increase in new listings provides buyers with considerably more options than were available in previous years.

Port Coquitlam stands out as one of the stronger performers within the Tri-Cities. Sales increased 22% compared to May of last year and months of supply improved to six months. This balanced market environment reflects healthy demand fundamentals and continued affordability advantages relative to neighboring communities.

Maple Ridge, Pitt Meadows, Ladner, and Tsawwassen Continue to Attract Buyers Seeking Larger Homes and Greater Value.

Pitt Meadows delivered one of the strongest year-over-year performances in the region, with sales increasing 61% compared to May 2025. Months of supply remain at a healthy five months, reflecting balanced conditions and strong local demand.

Maple Ridge continues to experience elevated inventory levels, though new listings declined sharply during May. This reduction in incoming supply could help improve market balance if sales activity remains steady during the summer.

Ladner and Tsawwassen both recorded stable results, with balanced conditions in Ladner and improving sales momentum in Tsawwassen. These South Delta communities continue to benefit from lifestyle-oriented buyers seeking space, community amenities, and relative affordability compared to Vancouver's core markets.

Fraser Valley Shows Strength in the Valley

Much like Greater Vancouver, the Fraser Valley market edged slightly above April sales numbers. And on the supply side, new listings and active listing counts dropped down in May compared to last year. The result in the Fraser Valley left the region with 9 months of supply compared to Greater Vancouver at 8. The detached market showed the greatest recovery year-over-year as the opportunities in that market segment continue to show buyers who have wanted to move up in the market that now is their time. 

Sales were up 0.5% over April and down 5% over May of last year. There were 1,124 sales in May compared to 1,118 in April and 1,183 in May 2025. Detached sales were again up the most in May year-over-year with 2% more homes sold, compared to townhomes with the same sales as last year and apartments again down, with 23% less compared to last year in May. 

Looking Ahead

The most encouraging aspect of today's market is not any single statistic but rather the consistency of the broader trend. Sales have increased steadily since January. Inventory growth is moderating. New listing activity is beginning to slow. Balanced market conditions are appearing in more submarkets. Buyers are becoming more active while sellers remain disciplined.

For buyers, current conditions represent one of the most favorable opportunities seen in years. Inventory remains abundant, competition is manageable, and negotiations are often possible.

For sellers, success continues to depend on accurate pricing, strong presentation, and strategic marketing. Well-positioned properties are still attracting attention and achieving successful outcomes, particularly in balanced markets where inventory remains relatively controlled.

The foundation being built today may ultimately prove far healthier than the rapid and often unpredictable market conditions that defined the previous cycle. For buyers, sellers, and investors alike, that stability may become one of the most valuable assets the market offers in the months ahead.

Here’s a summary of the numbers:

Greater Vancouver: Total Units Sold in May were 2,150, up from 2,110 (2%) in April, up from 2,032 (6%) in March, up from 1,648 (30%) in February, down from 2,228 (4%) in May 2025, down from 2,733 (21%) in May 2024, and down from 3,411 (37%) in May 2023; Active Listings were at 16,917 at month end compared to 17,094 at that time last year (down 1%) and 16,236 at the end of April (up 4%); the 6,240 New Listings in May were down 9% compared to April, up 5% compared to March, down 7% compared to May 2025, down 4% compared to May 2024 and up 8% compared to May 2023.


Month’s supply of total residential listings is steady at 8 months (buyer’s market conditions) and sales to listings ratio of 34% compared to 31% in April, 34% in March, 33% in May 2025, 42% in May 2024 and 59% in May 2023. 

Vancouver Westside: Total Units Sold in May were 414, up from 365 (13%) in April, up from 367 (13%) in March, up from 298 (39%) in February, up from 412 (0%) in May 2025, down from 501 (17%) in May 2024, and down from 624 (34%) in May 2023; Active Listings were at 3,005 at month end compared to 3,393 at that time last year (down 11%) and 2,921 at the end of April (up 3%); the 1,151 New Listings in May were down 7% compared to April, up 14% compared to March, down 9% compared to May 2025, down 13% compared to May 2024 and down 2% compared to May 2023.


Month’s supply of total residential listings is down to 7 months from 8 (balanced market conditions) and sales to listings ratio of 36% compared to 30% in April, 34% in March, 32% in May 2025, 38% in May 2024 and 53% in May 2023.

Vancouver East Side: Total Units Sold in May were 267, up from 258 (3%) in April, up from 231 (16%) in March, up from 220 (21%) in February, up from 245 (9%) in May 2025, down from 329 (19%) in May 2024, and down from 360 (26%) in May 2023; Active Listings were at 1,730 at month end compared to 1,729 at that time last year (down 0%) and 1,719 at the end of April (up 1%); the 708 New Listings in May were down 17% compared to April, up 5% compared to March, down 8% compared to May 2025, down 2% compared to May 2024 and up 9% compared to May 2023.


Month’s supply of total residential listings is down to 7 months from 6 (balanced market conditions) and sales to listings ratio of 38% compared to 30% in April, 34% in March, 32% in May 2025, 45% in May 2024 and 56% in May 2023.

North Vancouver: Total Units Sold in May were 223, up from 178 (25%) in April, up from 185 (21%) in March, up from 135 (65%) in February, up from 203 (10%) in May 2025, down from 245 (9%) in May 2024, and down from 288 (23%) in May 2023; Active Listings were at 1,116 at month end compared to 1,071 at that time last year (up 3%) and 1,089 at the end of April (up 2%); the 559 New Listings in May were down 5% compared to April, up 12% compared to March, down 1% compared to May 2025, up 5% compared to May 2024 and up 27% compared to May 2023.


Month’s supply of total residential listings is down to 5 months from 6 (balanced market conditions) and sales to listings ratio of 40% compared to 30% in April, 37% in March, 36% in May 2025, 46% in May 2024 and 66% in May 2023.

West Vancouver: Total Units Sold in May were 45, down from 51 (12%) in April, down from 46 (2%) in March, up from 33 (36%) in February, down from 68 (34%) in May 2025, down from 67 (33%) in May 2024, and down from 80 (44%) in May 2023; Active Listings were at 708 at month end compared to 743 at that time last year (down 5%) and 675 at the end of April (up 5%); the 221 New Listings in May were down 11% compared to April, up 3% compared to March, down 3% compared to May 2025, down 15% compared to May 2024 and down 4% compared to May 2023.


Month’s supply of total residential listings is up to 16 months from 13 (buyer’s market conditions) and sales to listings ratio of 20% compared to 21% in April, 21% in March, 30% in May 2025, 26% in May 2024 and 35% in May 2023.

Richmond: Total Units Sold in May were 227, down from 245 (7%) in April, up from 209 (9%) in March, up from 143 (59%) in February, down from 231 (2%) in May 2025, down from 299 (24%) in May 2024, and down from 396 (43%) in May 2023; Active Listings were at 2,067 at month end compared to 2,047 at that time last year (down 1%) and 1,975 at the end of April (up 4%); the 649 New Listings in May were down 8% compared to April, down 5% compared to March, down 12% compared to May 2025, the same compared to May 2024 and May 2023.


Month’s supply of total residential listings is up to 9 months from 8 (buyer’s market conditions) and sales to listings ratio of 35% compared to 35% in April, 31% in March, 31% in May 2025, 46% in May 2024 and 61% in May 2023.

Burnaby East: Total Units Sold in May were 19, down from 30 (37%) in April, down from 24 (21%) in March, the same as February, down from 32 (41%) in May 2025, down from 31 (39%) in May 2024, and down from 39 (51%) in May 2023; Active Listings were at 191 at month end compared to 227 at that time last year (down 16%) and 172 at the end of April (up 11%); the 74 New Listings in May were up 21% compared to April, down 6% compared to March, down 26% compared to May 2025, up 21% compared to May 2024 and up 9% compared to May 2023.


Month’s supply of total residential listings is up to 10 months from 6 (buyer’s market conditions) and sales to listings ratio of 26% compared to 49% in April, 30% in March, 32% in May 2025, 51% in May 2024 and 57% in May 2023.

Burnaby North: Total Units Sold in May were 121, down from 135 (10%) in April, up from 118 (3%) in March, up from 97 (25%) in February, down from 140 (14%) in May 2025, down from 166 (27%) in May 2024, and down from 195 (38%) in May 2023; Active Listings were at 949 at month end compared to 954 at that time last year (down 1%) and 869 at the end of April (up 9%); the 364 New Listings in May were up 1% compared to April, up 3% compared to March, up 1% compared to May 2025, down 7% compared to May 2024 and up 18% compared to May 2023.


Month’s supply of total residential listings is up to 8 months from 6 (buyer’s market conditions) and sales to listings ratio of 33% compared to 38% in April, 33% in March, 39% in May 2025, 42% in May 2024 and 63% in May 2023.

Burnaby South: Total Units Sold in May were 92, the same as April, down from 95 (3%) in March, up from 85 (8%) in February, up from 90 (2%) in May 2025, down from 127 (28%) in May 2024, and down from 233 (61%) in May 2023; Active Listings were at 887 at month end compared to 821 at that time last year (up 8%) and 821 at the end of April (up 8%); the 295 New Listings in May were down 13% compared to April, up 1% compared to March, down 7% compared to May 2025, down 15% compared to May 2024 and down 8% compared to May 2023.


Month’s supply of total residential listings is up to 10 months from 9 (buyer’s market conditions) and sales to listings ratio of 31% compared to 27% in April, 33% in March, 28% in May 2025, 37% in May 2024 and 73% in May 2023.

New Westminster: Total Units Sold in May were 86, the same as April, up from 76 (13%) in March, up from 76 (13%) in February, down from 92 (7%) in May 2025, down from 115 (25%) in May 2024, and down from 142 (39%) in May 2023; Active Listings were at 641 at month end compared to 599 at that time last year (up 7%) and 635 at the end of April (up 1%); the 243 New Listings in May were down 18% compared to April, up 7% compared to March, down 7% compared to May 2025, up 13% compared to May 2024 and up 18% compared to May 2023.


Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 35% compared to 29% in April, 33% in March, 35% in May 2025, 53% in May 2024 and 69% in May 2023.

Coquitlam: Total Units Sold in May were 165, down from 183 (10%) in April, down from 190 (13%) in March, up from 163 (1%) in February, down from 189 (13%) in May 2025, down from 228 (28%) in May 2024, and down from 284 (42%) in May 2023; Active Listings were at 1,418 at month end compared to 1,344 at that time last year (up 6%) and 1,331 at the end of April (up 7%); the 556 New Listings in May were down 8% compared to April, up 7% compared to March, up 7% compared to May 2025, up 8% compared to May 2024 and up 20% compared to May 2023.


Month’s supply of total residential listings is up to 9 months from 7 (buyer’s market conditions) and sales to listings ratio of 30% compared to 30% in April, 36% in March, 36% in May 2025, 44% in May 2024 and 61% in May 2023.

Port Moody: Total Units Sold in May were 48, down from 54 (11%) in April, down from 58 (17%) in March, up from 36 (33%) in February, down from 61 (21%) in May 2025, down from 58 (17%) in May 2024, and down from 87 (45%) in May 2023; Active Listings were at 395 at month end compared to 372 at that time last year (up 6%) and 371 at the end of April (up 6%); the 184 New Listings in May were up 9% compared to April, up 7% compared to March, down 3% compared to May 2025, up 51% compared to May 2024 and up 37% compared to May 2023.


Month’s supply of total residential listings is up to 8 months from 7 (buyer’s market conditions) and sales to listings ratio of 26% compared to 32% in April, 34% in March, 32% in May 2025, 48% in May 2024 and 65% in May 2023.

Port Coquitlam: Total Units Sold in May were 67, up from 60 (12%) in April, up from 53 (26%) in March, up from 46 (46%) in February, up from 55 (22%) in May 2025, down from 95 (29%) in May 2024, and down from 91 (26%) in May 2023; Active Listings were at 429 at month end compared to 384 at that time last year (up 12%) and 421 at the end of April (up 2%); the 190 New Listings in May were down 8% compared to April, up 6% compared to March, up 2% compared to May 2025, up 9% compared to May 2024 and up 29% compared to May 2023.


Month’s supply of total residential listings is down to 6 months from 7 (balanced market conditions) and sales to listings ratio of 35% compared to 29% in April, 29% in March, 30% in May 2025, 55% in May 2024 and 62% in May 2023.

Pitt Meadows: Total Units Sold in May were 29, down from 30 (3%) in April, down from 31 (6%) in March, up from 13 (123%) in February, up from 18 (61%) in May 2025, down from 30 (3%) in May 2024, and down from 39 (26%) in May 2023; Active Listings were at 155 at month end compared to 147 at that time last year (up 5%) and 153 at the end of April (up 1%); the 57 New Listings in May were down 21% compared to April, down 26% compared to March, down 25% compared to May 2025, down 21% compared to May 2024 and up 27% compared to May 2023.


Month’s supply of total residential listings is steady at 5 months (balanced market conditions) and sales to listings ratio of 50% compared to 41% in April, 40% in March, 23% in May 2025, 41% in May 2024 and 86% in May 2023.           

Maple Ridge: Total Units Sold in May were 110, down from 117 (6%) in April, up from 126 (13%) in March, up from 105 (5%) in February, down from 134 (18%) in May 2025, down from 172 (36%) in May 2024, and down from 218 (46%) in May 2023; Active Listings were at 968 at month end compared to 1,009 at that time last year (down 4%) and 937 at the end of April (up 3%); the 316 New Listings in May were down 19% compared to April, up 3% compared to March, down 27% compared to May 2025, down 21% compared to May 2024 and down 8% compared to May 2023.


Month’s supply of total residential listings is up to 9 months from 8 (buyer’s market conditions) and sales to listings ratio of 34% compared to 30% in April, 41% in March, 30% in May 2025, 42% in May 2024 and 63% in May 2023.

Ladner: Total Units Sold in May were 28, down from 33 (15%) in April, down from 35 (20%) in March, up from 26 (8%) in February, down from 33 (15%) in May 2025, down from 33 (15%) in May 2024, and down from 54 (48%) in May 2023; Active Listings were at 191 at month end compared to 192 at that time last year (down 1%) and 188 at the end of April (up 2%); the 64 New Listings in May were down 17% compared to April, down 16% compared to March, down 21% compared to May 2025, down 16% compared to May 2024 and up 28% compared to May 2023.


Month’s supply of total residential listings is up to 7 months from 6 (balanced market conditions) and sales to listings ratio of 44% compared to 43% in April, 46% in March, 41% in May 2025, 43% in May 2024 and 108% in May 2023.

Tsawwassen: Total Units Sold in May were 38, up from 34 (12%) in April, up from 30 (27%) in March, up from 27 (41%) in February, down from 42 (10%) in May 2025, down from 40 (5%) in May 2024, and down from 62 (39%) in May 2023; Active Listings were at 330 at month end compared to 331 at that time last year (0%) and 317 at the end of April (up 4%); the 106 New Listings in May were down 3% compared to April, up 20% compared to March, down 22% compared to May 2025, up 7% compared to May 2024 and up 16% compared to May 2023.


Month’s supply of total residential listings is steady at 9 months (buyer’s market conditions) and sales to listings ratio of 36% compared to 31% in April, 34% in March, 31% in May 2025, 42% in May 2024 and 40% in May 2023.
 

Fraser Valley: Sales in May were up 0.5% at 1,124 compared to April at 1,118 and were down 5.0% from May 2025 at 1,183. New listings were down 7% at 3,300 from April at 3,549 and down 18% from May 2025 at 4,007. The average price of $965,551 was down 1.0% month-over-month and was down 1.3% year-over-year. Active listings at 10,140 were up 3% compared to last month at 9,816 and down 5% from May 2025 at 10,626.


Month’s supply of total residential listings is steady at 9 months (buyer’s market conditions).

Highlights of Dexter’s April 2026 report

• Bank of Canada keeps its rate in check

• Detached homes showed more sales 

• Market conditions make for a great time to move

• Balance in the market continues

Supply Expands, Stability Holds Across Metro Vancouver

April didn’t break the trend; it carried it forward. It acted like a spring market in its own way. While not the volume of sales we are used to in Metro Vancouver, it carried forward from March and previous months to make April the best month for sales since the fall.

After two months of accelerating momentum, the Metro Vancouver market moved into a more measured phase in April. Sales continued to rise, inventory expanded more meaningfully, and the overall market shifted slightly back toward buyer-leaning conditions in some areas. Detached homes showed a great improvement in sales, up 14% compared to April last year while town homes and condos were down. The increase in supply helped move more sales forward. 

Total residential sales in Greater Vancouver reached 2,110 units in April, up 4% from March and 28% from February. The pace of growth has slowed compared to earlier in the year, but that’s expected as the market moves out of recovery mode and into a more stable operating range. 

Greater Vancouver sales in April were 23% below the 10-year average after March was 32% below the 10-year average, February at 29% below the 10-year average and January at 31% below the 10-year average. April proved better not just in overall sales numbers but trending towards the average. These are signs of better buyer engagement, and an increase in listing choice. 

The month-over-month gains were especially strong in Burnaby East (+25%), West Vancouver (+11%), Richmond (+17%), Vancouver East Side (+12%), New Westminster (+13%), and Port Coquitlam (+13%). Burnaby East in particular stands out with a robust 49% sales-to-listings ratio, the highest in the region.

Several communities posted meaningful year-over-year gains, a particularly encouraging sign given that 2025 was hoped to be a recovery year while continued uncertainty had other plans for 2025 and 2026. West Vancouver led with a striking 34% increase in units sold versus April 2025, followed by Ladner (+106%), Richmond (+15%), Vancouver East Side (+7%), Pitt Meadows (+11%), and Port Moody (+6%). These gains reflect genuine demand strength in these communities and bode well for the months ahead.
 

At the same time, inventory growth stepped up. Active listings climbed to 16,236, up 10% month-over-month and essentially flat year-over-year. Several submarkets have seen active listings decline compared to last year: Vancouver Westside is down 12%, Burnaby East down 14%, Burnaby North down 8%, and West Vancouver down 6%. These inventory reductions, combined with improving sales, point to tightening conditions that could support price stability in those areas.

New listings rose to 6,817, a 15% increase from March and a substantial 55% above April 2023 levels. Sellers are clearly engaging in the market in greater numbers again.

The number of new listings in April were 15% above the 10-year average after March was 5% above the 10-year average, February was 7% above the 10-year average, and January 19% above the 10-year. April typically shows growth in listing inventory after a month of spring breaks and Easter Holidays.

That increase in supply had a predictable effect on market balance. Months of supply edged up from 7 to 8 months, and the sales-to-listings ratio eased slightly to 31%. This places the region just into buyer’s market territory, but only marginally and certainly not universally for all home types and neighborhoods.

A Market Absorbing Growth

The key point: demand is keeping pace, but in April it didn’t outpace supply. 

The increase in listings isn’t overwhelming the market, it’s being met with steady, consistent buyer activity. That’s why sales continue to rise even as inventory expands. What we’re seeing is not a pullback. It’s normalization. Buyers have more choice. Sellers face more competition. Transactions continue, but with greater balance and less urgency than in previous years. Although anecdotally, there has been an increase in multiple offers in some areas and product types as buyers are starting to focus more, taking advantage of the conditions that favour them. 

City of Vancouver: Stable, Competitive, and Balanced

Vancouver Westside

The Westside held steady in April. Sales were essentially unchanged month-over-month, while inventory increased and months of supply ticked up to 8 months. Despite this, the market remains highly functional. The sales-to-listings ratio at 30% reflects consistent absorption, even as new listings rise. Notably, inventory remains below last year’s levels, reinforcing that supply is still being managed effectively.

This is a market adjusting, not weakening.

Vancouver East Side

The East Side continues to demonstrate resilience. Sales rose 12% from March and are now above last year’s levels. Months of supply stayed steady at 7 months, maintaining balanced conditions. While inventory increased, demand followed. This remains one of the most stable submarkets in the region, supported by strong end-user demand and relative affordability.

North Shore

North Vancouver recorded 178 sales, down from March but up 32% from February and maintaining balanced market conditions with 6 months of supply. West Vancouver delivered one of the most impressive year-over-year performances anywhere in the region — 51 sales, up 34% versus April 2025 and up 55% versus February. The sales-to-listings ratio of 21% has improved significantly from 14% in April 2025, and active listings have contracted 6% year-over-year.

Richmond

Richmond's spring rebound is one of the standout stories of April. With 245 sales, the city posted gains of 17% versus March and 15% versus April 2025. The month's supply of 8 (down from 9 months in March) reflects improving absorption, and the 35% sales-to-listings ratio is the highest in several months. The 71% surge in sales from February could be the start of a sustained upswing.

Burnaby

Burnaby's three sub-areas presented a largely positive picture. Burnaby East's 49% sales-to-listings ratio and 6-month supply (balanced market) underscore strong localized demand, with sales up 25% both month-over-month and year-over-year. Burnaby North's 135 sales and 38% sales-to-listings ratio represent steady performance, while Burnaby South, with 92 sales, continues to see healthy new listing activity that is expanding buyer choice.

New Westminster

New Westminster remains steady. Sales increased modestly, and months of supply held at 7 months. This market continues to operate within a narrow, stable range—an indicator of strong underlying fundamentals.

Trice Cities and Beyond

Coquitlam (183 sales), Port Moody (54 sales), and Port Coquitlam (60 sales) all maintained balanced market conditions. Port Moody's 6% year-over-year gain in sales is a positive note. Pitt Meadows remains one of the tightest markets in the region, with a 41% sales-to-listings ratio and just 5 months of supply, conditions that favour sellers. Maple Ridge's 15% surge in new listings versus March signals a healthy influx of inventory entering its spring market.

Delta Markets

Ladner was the standout performer year-over-year in this area, with sales more than doubling (+106%) versus April 2025. The 43% sales-to-listings ratio and 6 months of supply reflect balanced, active conditions. Tsawwassen's month's supply improved to 9 months from 10, with sales up 13% from March, a constructive trend. Both communities benefit from relative affordability compared to Vancouver proper.

Fraser Valley Shows Strength in the Valley

The Fraser Valley market showed more strength than Greater Vancouver with sales ahead of both March this year and April last year. And while supply remained at relatively similar levels for the activity, the increase in listings still saw the Fraser Valley sit with 9 months’ supply of listings. Sales were up 11% over March and 7% over April of last year. There were 1,118 sales in April compared to 1,007 in March and 1,043 in April 2025. Detached sales were up the most in April year-over-year with 25% more homes sold, compared to townhomes up 4% and apartments down 14% to last year. That kind of improvement in detached home sales shows confidence in the market that we haven’t seen in some time.  

The Big Picture: Supply Leading, Demand Following

April introduces a subtle but important shift in the market dynamic: Supply is now leading the conversation.

After months of demand-driven recovery, the increase in listings is beginning to shape conditions more directly. But unlike past cycles, this shift is not creating instability. Instead, it’s reinforcing balance.

• Sales are still rising 

• Inventory is expanding 

• Absorption remains steady 

• Market conditions are adjusting gradually—not abruptly 

This is a sign of a market that wants to move forward.

With interest rates remaining stable, affordability pressures gradually easing, and continued pent-up demand across Metro Vancouver, the foundation for continued market activity through spring and summer remains constructive and opportunistic. Buyers benefit from the expanded inventory and balanced conditions in most communities, while sellers in tighter submarkets, particularly North Vancouver, Burnaby, Tri-Cites, and Pitt Meadows, remain in a more favourable position.

Overall, April 2026 reinforced the narrative of a real estate market returning to health: active, improving, and full of opportunity across Metro Vancouver's diverse communities.

Here’s a summary of the numbers:

Greater Vancouver: Total Units Sold in April were 2,110, up from 2,032 (4%) in March, up from 1,648 (28%) in February, down from 2,163 (2%) in April 2025, down from 2,831 (25%) in April 2024, and down from 2,741 (23%) in April 2023; Active Listings were at 16,236 at month end compared to 16,207 at that time last year (basically flat) and 14,774 at the end of March (up 10%); the 6,817 New Listings in April were up 15% compared to March, up 41% compared to February, down 2% compared to April 2025, down 6% compared to April 2024 and up 55% compared to April 2023. Month’s supply of total residential listings is up to 8 months from 7 (buyer’s market conditions) and sales to listings ratio of 31% compared to 34% in March, 34% in February, 31% in April 2025, 39% in April 2024 and 62% in April 2023. 

Vancouver Westside: Total Units Sold in April were 365, down from 367 (1%) in March, up from 298 (22%) in February, down from 427 (15%) in April 2025, down from 471 (23%) in April 2024, and down from 468 (22%) in April 2023; Active Listings were at 2,921 at month end compared to 3,306 at that time last year (down 12%) and 2,676 at the end of March (up 9%); the 1,234 New Listings in April were up 16% compared to March, up 42% compared to February, down 6% compared to April 2025, down 18% compared to April 2024 and up 47% compared to April 2023. Month’s supply of total residential listings is up to 8 months from 7 (buyer’s market conditions) and sales to listings ratio of 30% compared to 34% in March, 34% in February, 33% in April 2025, 31% in April 2024 and 56% in April 2023.

Vancouver East Side: Total Units Sold in April were 258, up from 231 (12%) in March, up from 220 (17%) in February, up from 242 (7%) in April 2025, down from 349 (26%) in April 2024, and down from 267 (3%) in April 2023; Active Listings were at 1,719 at month end compared to 1,658 at that time last year (up 4%) and 1,530 at the end of March (up 12%); the 848 New Listings in April were up 25% compared to March, up 62% compared to February, up 16% compared to April 2025, down 1% compared to April 2024 and up 76% compared to April 2023. Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 30% compared to 34% in March, 42% in February, 33% in April 2025, 41% in April 2024 and 55% in April 2023.

North Vancouver: Total Units Sold in April were 178, down from 185 (4%) in March, up from 135 (32%) in February, down from 204 (13%) in April 2025, down from 248 (28%) in April 2024, and down from 218 (18%) in April 2023; Active Listings were at 1,089 at month end compared to 1,016 at that time last year (up 7%) and 939 at the end of March (up 16%); the 589 New Listings in April were up 18% compared to March, up 47% compared to February, down 7% compared to April 2025, down 2% compared to April 2024 and up 77% compared to April 2023. Month’s supply of total residential listings is up to 6 months from 5 (balanced market conditions) and sales to listings ratio of 30% compared to 37% in March, 34% in February, 32% in April 2025, 41% in April 2024 and 66% in April 2023.

West Vancouver: Total Units Sold in April were 51, up from 46 (11%) in March, up from 33 (55%) in February, up from 38 (34%) in April 2025, down from 70 (27%) in April 2024, and down from 69 (26%) in April 2023; Active Listings were at 675 at month end compared to 718 at that time last year (down 6%) and 636 at the end of March (up 6%); the 248 New Listings in April were up 16% compared to March, up 56% compared to February, down 11% compared to April 2025, down 16% compared to April 2024 and up 35% compared to April 2023. Month’s supply of total residential listings is down to 13 months from 14 (buyer’s market conditions) and sales to listings ratio of 21% compared to 21% in March, 21% in February, 14% in April 2025, 24% in April 2024 and 38% in April 2023.

Richmond: Total Units Sold in April were 245, up from 209 (17%) in March, up from 143 (71%) in February, up from 213 (15%) in April 2025, down from 336 (27%) in April 2024, and down from 338 (28%) in April 2023; Active Listings were at 1,975 at month end compared to 1,908 at that time last year (up 4%) and 1,891 up at the end of March (up 4%); the 709 New Listings in April were up 4% compared to March, up 38% compared to February, down 4% compared to April 2025, down 8% compared to April 2024 and up 40% compared to April 2023. Month’s supply of total residential listings is down to 8 months from 9 (buyer’s market conditions) and sales to listings ratio of 35% compared to 31% in March, 28% in February, 29% in April 2025, 44% in April 2024 and 67% in April 2023.

Burnaby East: Total Units Sold in April were 30, up from 24 (25%) in March, up from 19 (58%) in February, up from 24 (25%) in April 2025, the same as April 2024, and down from 34 (12%) in April 2023; Active Listings were at 172 at month end compared to 201 at that time last year (down 14%) and 182 at the end of March (down 5%); the 61 New Listings in April were down 23% compared to March, down 12% compared to February, down 30% compared to April 2025, down 8% compared to April 2024 and up 45% compared to April 2023. Month’s supply of total residential listings is down to 6 months from 8 (balanced market conditions) and sales to listings ratio of 49% compared to 30% in March, 28% in February, 28% in April 2025, 45% in April 2024 and 81% in April 2023.

Burnaby North: Total Units Sold in April were 135, up from 118 (14%) in March, up from 97 (39%) in February, down from 140 (4%) in April 2025, down from 162 (17%) in April 2024, and down from 176 (23%) in April 2023; Active Listings were at 869 at month end compared to 940 at that time last year (down 8%) and 830 at the end of March (up 5%); the 360 New Listings in April were up 2% compared to March, up 27% compared to February, down 11% compared to April 2025, down 23% compared to April 2024 and up 36% compared to April 2023. Month’s supply of total residential listings is down to 6 months from 7 (balanced market conditions) and sales to listings ratio of 38% compared to 33% in March, 34% in February, 35% in April 2025, 35% in April 2024 and 67% in April 2023.

Burnaby South: Total Units Sold in April were 92, down from 95 (3%) in March, up from 85 (8%) in February, down from 97 (5%) in April 2025, down from 143 (36%) in April 2024, and down from 215 (57%) in April 2023; Active Listings were at 821 at month end compared to 754 at that time last year (up 9%) and 722 at the end of March (up 14%); the 340 New Listings in April were up 17% compared to March, up 16% compared to February, up 5% compared to April 2025, up 4% compared to April 2024 and up 27% compared to April 2023. Month’s supply of total residential listings is up to 9 months from 8 (buyer’s market conditions) and sales to listings ratio of 27% compared to 33% in March, 40% in February, 30% in April 2025, 44% in April 2024 and 81% in April 2023.

New Westminster: Total Units Sold in April were 86, up from 76 (13%) in March, up from 76 (13%) in February, down from 87 (1%) in April 2025, down from 105 (18%) in April 2024, and down from 113 (24%) in April 2023; Active Listings were at 635 at month end compared to 582 at that time last year (up 9%) and 567 at the end of March (up 12%); the 6,817 New Listings in April were up 31% compared to March, up 31% compared to February, up 7% compared to April 2025, up 20% compared to April 2024 and up 84% compared to April 2023. Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 29% compared to 33% in March, 33% in February, 31% in April 2025, 42% in April 2024 and 70% in April 2023.

Coquitlam: Total Units Sold in April were 183, down from 190 (4%) in March, up from 163 (12%) in February, down from 189 (3%) in April 2025, down from 238 (23%) in April 2024, and down from 210 (13%) in April 2023; Active Listings were at 1,331 at month end compared to 1,325 at that time last year (flat to last year) and 1,212 at the end of March (up 10%); the 602 New Listings in April were up 16% compared to March, up 44% compared to February, down 4% compared to April 2025, up 10% compared to April 2024 and up 78% compared to April 2023. Month’s supply of total residential listings is up to 7 months from 6 (balanced market conditions) and sales to listings ratio of 30% compared to 36% in March, 39% in February, 30% in April 2025, 43% in April 2024 and 62% in April 2023.

Port Moody: Total Units Sold in April were 54, down from 58 (7%) in March, up from 36 (50%) in February, down from 51 (6%) in April 2025, down from 73 (26%) in April 2024, and down from 91 (41%) in April 2023; Active Listings were at 371 at month end compared to 343 at that time last year (up 8%) and 343 at the end of March (up 8%); the 169 New Listings in April were down 2% compared to March, up 25% compared to February, down 8% compared to April 2025, up 5% compared to April 2024 and up 69% compared to April 2023. Month’s supply of total residential listings is up to 7 months from 6 (balanced market conditions) and sales to listings ratio of 32% compared to 34% in March, 27% in February, 28% in April 2025, 45% in April 2024 and 91% in April 2023.

Port Coquitlam: Total Units Sold in April were 60, up from 53 (13%) in March, up from 46 (30%) in February, down from 70 (14%) in April 2025, down from 102 (41%) in April 2024, and down from 76 (21%) in April 2023; Active Listings were at 421 at month end compared to 353 at that time last year (up 19%) and 354 at the end of March (up 19%); the 207 New Listings in April were up 15% compared to March, up 107% compared to February, up 5% compared to April 2025, up 9% compared to April 2024 and up 165% compared to April 2023. Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 29% compared to 29% in March, 46% in February, 36% in April 2025, 54% in April 2024 and 97% in April 2023.

Pitt Meadows: Total Units Sold in April were 30, down from 31 (3%) in March, up from 13 (131%) in February, up from 27 (11%) in April 2025, down from 32 (6%) in April 2024, and up from 27 (11%) in April 2023; Active Listings were at 153 at month end compared to 122 at that time last year (up 25%) and 142 at the end of March (up 8%); the 72 New Listings in April were down 6% compared to March, up 4% compared to February, up 16% compared to April 2025, up 26% compared to April 2024 and up 33% compared to April 2023. Month’s supply of total residential listings is steady at 5 months (balanced market conditions) and sales to listings ratio of 41% compared to 40% in March, 18% in February, 43% in April 2025, 56% in April 2024 and 50% in April 2023.          

Maple Ridge: Total Units Sold in April were 117, down from 126 (7%) in March, up from 105 (11%) in February, down from 127 (8%) in April 2025, down from 191 (39%) in April 2024, and down from 161 (27%) in April 2023; Active Listings were at 937 at month end compared to 920 at that time last year (up 1%) and 814 at the end of March (up 15%); the 390 New Listings in April were up 27% compared to March, up 40% compared to February, up 2% compared to April 2025, down 11% compared to April 2024 and up 52% compared to April 2023. Month’s supply of total residential listings is up to 8 months from 6 (buyer’s market conditions) and sales to listings ratio of 30% compared to 41% in March, 37% in February, 33% in April 2025, 43% in April 2024 and 62% in April 2023.

Ladner: Total Units Sold in April were 33, down from 35 (6%) in March, up from 26 (27%) in February, up from 16 (106%) in April 2025, the same as April 2024, and down from 43 (23%) in April 2023; Active Listings were at 188 at month end compared to 178 at this time last year (up 6%) and 168 at the end of March (up 12%); the 77 New Listings in April were up 1% compared to March, up 28% compared to February, the same as April 2025, down 3% compared to April 2024 and up 33% compared to April 2023. Month’s supply of total residential listings is up to 6 months from 5 (balanced market conditions) and sales to listings ratio of 43% compared to 46% in March, 43% in February, 21% in April 2025, 42% in April 2024 and 74% in April 2023.

Tsawwassen: Total Units Sold in April were 34, up from 30 (13%) in March, up from 27 (26%) in February, down from 40 (15%) in April 2025, down from 51 (33%) in April 2024, and down from 54 (37%) in April 2023; Active Listings were at 317 at month end compared to 306 at that time last year (up 4%) and 297 at the end of March (up 7%); the 109 New Listings in April were up 24% compared to March, up 11% compared to February, down 13% compared to April 2025, up 2% compared to April 2024 and up 47% compared to April 2023. Month’s supply of total residential listings is down to 9 months from 10 (buyer’s market conditions) and sales to listings ratio of 31% compared to 34% in March, 28% in February, 32% in April 2025, 48% in April 2024 and 73% in April 2023.

Fraser Valley: Sales in April were up 11% at 1,118 compared to March at 1,007 and were up 7% from April 2025 at 1,043. New listings were up 6% at 3,549 from March at 3,341 and down 6% from April 2025 at 3,762. The average price of $975,305 was down 0.8% month-over-month and was up 1.4% year-over-year. Active listings at 9,816 were down 2% compared to last month at 10,046 and up 7% from April 2025 at 9,201. Month’s supply of total residential listings is steady at 9 months (buyer’s market conditions).