Insights from April: Real Estate Market Update for Greater Vancouver

As we navigate through the complexities of the real estate landscape, it's crucial to stay informed about market trends and shifts. April brought forth notable developments in the Greater Vancouver real estate market, offering insights that both buyers and sellers should be aware of.

Inventory Surge:
The inventory of actively listed homes for sale on the MLS® in Metro Vancouver saw a significant increase in April, reaching heights not seen since the summer of 2020. With a +42% year-over-year rise, breaching the 12,000 mark, this surge indicates a shifting landscape for buyers and sellers alike.

Steady Sales Activity:
Despite the surge in inventory, residential sales in the region experienced a modest increase of +3.3% compared to April 2023. However, this figure was -12.2% below the 10-year seasonal average, reflecting the evolving dynamics of the market.

Market Dynamics:
Andrew Lis, GVR’s director of economics and data analytics, notes that while many anticipated higher inventory levels with aggressive rate hikes by the Bank of Canada, the climb has been steadier than expected. Surprisingly, demand remains robust, and homeowners have been reluctant to sell, even amidst the highest borrowing costs in over a decade.

New Listings and Total Inventory:
In April 2024, 7,092 properties were newly listed for sale, marking a substantial +64.7% increase from the previous year. The total number of properties listed for sale reached 12,491, up +42.1% from April 2023. These figures underscore the growing options available to prospective buyers.

Sales-to-Active Listings Ratio:
The sales-to-active listings ratio for April 2024 stands at 23.5%, signalling a market favouring neither buyers nor sellers. However, segmented by property type, detached homes exhibit a ratio of 17.6%, while attached homes and apartments show ratios of 31.0% and 26.0%, respectively.

Price Trends:
Despite the increase in inventory, home prices continue to climb across most segments. Detached homes saw a benchmark price of $2,040,000, representing a +6.3% increase from April 2023. Apartments, however, experienced a slight decline in prices, likely influenced by higher mortgage rates and increased inventory levels.

Stability in Median Days on Market (DOM): While changes unfold in sales and inventory levels, the median DOM remains stable at 11 days. This metric, consistent with historical trends over the past three years, underscores the efficiency of transactions within the market and reflects strategic pricing by sellers and sustained buyer interest.

Where there is change there is opportunity and the Greater Vancouver real estate market in April 2024 presents both challenges and opportunities for buyers and sellers alike. With inventory levels rising and sales momentum continuing, navigating this dynamic landscape requires expert guidance and strategic decision-making.

Reach out to your trusted Solutions Real Estate Agent today to leverage their expertise and maximize your success in this evolving market. Whether you're buying, selling, or investing, our team is here to ensure you achieve your real estate goals with confidence and clarity.


Referred Movers

Jiffy Move


Let Us Move
Bryan Way: 778-889-5518
Above 2 companies recommended by Owners/Realtors of Keller Williams VanCentral


Greenwood Movers
One of the owners of my brokerage recommends this group.
"Well priced and great service 604-512-5180 I've recommended them dozens of time and everyone loves them"  

Smart Choice Moving
* a Korean moving company that my one of my clients used. Hard workers but movers may not speak English very well however owner of company can communicate well. Highly recommended in the Korean community.  

E-Z Moves
(778) 317-8484
Recommended by our colleague Karnvir Tumber
“They’ve done a few of my moves, priced well”  

Frank Moving Company
Recommended by my colleague Gary Dhaliwal
“been using him for 13 years”  

Tiger Mover
(604) 838-8250
Recommended by our colleague Vijay Singh
“his name is Tiger and he is a very good mover”  

Honest Moving
Contact: ADA
Mobile: 604-783-1889
*Used by client C.W. when he moved from Vancouver to Richmond.
Per C.W.: They have tiered options. Larger the vehicle higher the cost. Small move should be minimal. They were great. Used them twice. Guys work hard and non stop.


Referred Lawyers in Greater Vancouver

Keith Barron
Associate Counsel
Clark Woods LLP

P: 604.330.1777
F: 1.888.819.2933

Second Floor
946 Brunette Avenue
Coquitlam, BC, V3K 1C9


Edwin Chan
Edwin Chan Law Corporation

MetroTower 2
26th Floor – 4720 Kingsway
Burnaby, BC V5H 4N2

Phone: (778) 374-1736
Fax: (778) 331-3898

his office is in Metro town. Very approachable and knowledgeable
* several clients have used Edwin Chan. I often call him for questions.


Drysdale Bacon McStravick LLP

Telephone: 604-939-8321
Fax: 604-939-7584
Real Estate Fax: 604-939-8340

300 – 1055 W Hastings St.
Vancouver, BC V6E 2E9

211 – 1015 Austin Ave.
Coquitlam, BC V3K 3N9


Garton & Harris
1542 Prairie Ave, Port Coquitlam, BC V3B 1T4
o. 468-8900

* Garton & Harris has completed the files of many Realtors at my brokerage.


Spagnuolo & Company Lawyers
#300-906 Roderick Avenue
Coquitlam, BC V3K 1R1

Tel. 604-527-4242
Fax: 604-527-8976
* several clients have used Spagnuolo


Thershan Nainaar
Collingwood Law Office
260-3631 No. 3 Rd, Richmond, BC V6X 2B9

D: 778-945-0145


Referred Lawyers in Fraser Valley

Sandeep Gill
Keystone Law Group
Fraser Valley – Surrey
Real Estate
Estate Planning
Personal Injury 
Phone. (604) 593-3903
Fax. 604 593 3904 

100 – 15129 100 Avenue
Surrey V3R 9P4
* a couple of Solutions clients have used Sandeep.

Vin Chahal
Phone: 604-543-3886

208-7110 120 St., Surrey, BC
-speaks Hindi & Punjabi
* John Kemp's clients have worked with Vin

Jason Sandu
Phone: 604.580.7020

offices in both Surry and Langley (not sure which one Jason works in)
*referred by colleague, Keller Williams agent, Vijay Singh

Randal Dhaliwal
Phone: 604-631-6472

office is in Surrey
*referred by colleague, Keller Williams agent, Vijay Singh


Referred Home Inspectors

Paul Sew
Acme Home Inspections
(778) 233-8246
* Paul has plenty of Google Reviews and has provided thourough inspections for several clients with Solutions Real Estate Group

Ali Javaheri
Zinc Inspections
* Ali has a background in construction and home renovations.
* Alil has plenty of Google Reviews and has provided thourough inspections for several clients with Solutions Real Estate Group

David Fairbairn
Fairbairn Inspection Services

* David has plenty of Google Reviews and has provided thourough inspections for several clients with Solutions Real Estate Group
He is often very busy, but if you can book him great!  

Tom Monroe
Munro Home Inspections
I have never used him because he’s so busy. But many of my colleagues have used him and I have attended his Inspection for Realtors seminars

Neil Chaube
604 Inspections
* Neil has plenty of Google Reviews and has provided thourough inspections for several clients with Solutions Real Estate Group

Beni Bennett & Ryan Kadow
Northwood Home Inspections
*my past clients have used Beni & Ryan previously.
-Plenty of google reviews
-offers a lot of warranties
..outside warr1 days after possession (extra bonus)


Referred Mortgage Lenders

Craig Woodward
Mortgage Professional
Dominion Lending Centres, Producers West Financial
Phone: 778-882-1354
Fax: 604-881-4352

#105 - 20171 92A Ave
Langley City, BC
V1M 3A5  

Andy Wai
Mortgage Broker
T. (778) 323-9449

A. 1665 Kingsway, Vancouver, BC, V5N 2S2

Angela Calla Mortgage Team
Dominion Lending Centres
Cell: 604-802-3983 

1465 Salisbury Ave Unit 130
Port Coquitlam, BC V3B 6J3

Jessica Kuan
Partner | Residential Mortgage Broker
Signature Mortgages 
-A Division of Clear Trust Mortgages
Tel: 778.990.7422 
* has partners that are fluent in both Mandarin and Cantonese. 

600-1200 West 73rd Avenue
Vancouver, BC V6P 6G5

Nick & Evangeline
Alltrust Mortgage Solutions
778-233-2294  Nick Shlyakhov
604-761-8212  Evangeline Villanueva

* has connections that are fluent in both Mandarin and Cantonese


Referred Home Insurance Providers

Ashley Lewthwaite
Licensed Insurance Broker
Johnston Meier Insurance & Realty Ltd.
Tel: 604-942-7214 x64121
Fax: 604-942-2639

202-3387 David Ave, Coquitlam BC V3E 0K4


Manjit Biring
Mobile (604) 828-6211
Work (604) 695-7678

104-2331 Marpole Ave
Port Coquitlam, BC V3C2A1


Aida Naghizadeh

One Stop Insurance
Mobile (604) 710-7111  


Hub Insurance

Tel: 604-269-1200
Sharmin 604-269-1724


CMW Capri 


Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.