A Deeper Look in Greater Vancouver's Market

The real estate market is shifting again—but not in the way most people expect. Inventory is climbing fast, while sales are slower than usual, giving buyers more choice and leverage. If you’ve been waiting for the right time to enter the market, this might be your opening.

📊 The Big Picture:

• Sales are down: Just 2,228 homes sold in May—a drop of 18.5% from last year and 30% below typical May activity.

• Listings are up: Over 17,000 homes are now on the market—the highest level in a decade.

• Prices are sliding slightly:

  • All homes: $1,177,100 (↓2.9% YoY)

  • Detached: $1,997,400 (↓3.2%)

  • Townhomes: $1,106,800 (↓3.4%)

  • Condos: $757,300 (↓2.4%)

📉 Why it matters: With so many homes available and fewer offers coming in, sellers are more open to negotiating, and price growth has slowed.

📍 What’s Happening in the Tri-Cities?

🔹 Coquitlam

• Detached: $1,778,300 (↓4.1%)

• Townhomes: $1,085,000

• Condos: $724,000 (↓3.7%)

  📈 Condo sales picked up slightly in May—could be a sign of improving affordability appeal.

🔹 Port Coquitlam

• Detached: $1,412,000

• Townhomes: $956,300

• Condos: $636,500

  🧭 Condo activity slowed, showing how buyer interest can shift quickly within small areas.

🔹 Port Moody

• Detached: $2,075,700

• Townhomes: $1,040,400

• Condos: $746,900 (↑1.6%)

  🌲 Despite the market, Port Moody prices are holding—green spaces and community amenities keep demand steady.

📌 Market Tip of the Month

🔍 Tip for Buyers:
Look for homes that have been on the market for more than 30 days.
Many sellers are now more open to offers below asking—especially if their listing has been sitting for a while!

✅ Ready to Talk Strategy?

Whether you're planning to buy your first home, thinking of upsizing, or just watching the market—I'm here to help you make sense of it all. Let's connect for a quick chat or personalized market update for your area.

Fartash Elyasi, Real Estate Professional | RE/MAX Heights Realty

📞 Call/text: 236-885-4669
📧 Email: [email protected]
🌐 check out all our listings: fartash.ca

Let’s make your next move a smart one.