Greater Vancouver Real Estate Update – Last 60 Days: Rising Inventory and Seller Competition

Over the past 60 days, the Greater Vancouver real estate market has shifted in a way that is easy to miss at first glance. Activity is still happening, but the balance has changed. There are more listings coming onto the market, and that is creating more competition for sellers.

Across North Vancouver, West Vancouver, and Greater Vancouver, the pattern is consistent. Buyers have more options, and they are taking the time to compare before making a decision. The result is simple: homes that stand out are selling, and homes that don’t are being passed over.

“What I’m seeing right now is that sellers are no longer just competing with the market. They are competing directly with other listings.”

Insights for Buyers

Buyers are in a stronger position today than they were earlier this year. With more listings available, especially in higher price ranges, there is more choice and more leverage when comparing properties.

At the same time, the best homes are still moving quickly. Over the past 60 days, properties that are priced well and show well are often selling within one to two weeks. Meanwhile, similar homes with pricing or condition issues are staying on the market longer. This creates a mixed experience where buyers can take their time, but still need to act when the right property appears.

One recent example: a buyer looking five entry-level condos priced lower than perceived “market value.” They waited, expecting prices to come down further. Within a short period, two of those units sold, and the remaining options were not as strong.

“There is more choice right now, but that doesn’t mean the best opportunities will wait. When something stands out, it tends to move quickly.”

Insights for Sellers

For sellers, the increase in inventory is the most important change in the last 60 days. More listings mean more competition, and that changes how buyers behave.

In some segments, there are dozens of active listings with only a small number of sales each month. This means buyers can be selective. They are comparing homes side by side and choosing the one that feels like the best value.

I recently worked with a situation where a home had strong features but was not getting the expected level of activity. The issue was not the home itself, but how it was positioned compared to other listings. After a price adjustment, interest improved, but the delay made the process longer than it needed to be.

At the same time, another property in a similar price range received an offer shortly after a small adjustment that aligned it with current buyer expectations.

“Buyers are not rushing. They are choosing. If a home doesn’t stand out on price or presentation, they move on to the next option.”

Market Outlook

As we move further into the spring market, both inventory and buyer activity are expected to increase. April and May are typically the busiest months, which brings more opportunities, but also more competition.

For buyers, this means more options to choose from, but also the need to be prepared when the right home appears. For sellers, this means more exposure, but also more direct competition from other listings entering the market at the same time.

There is also a growing “wait-and-see” mindset among some buyers. However, this tends to apply more to average listings. Homes that are priced well and show well are still attracting attention and offers.

“This is a market where preparation and positioning matter. The homes that are aligned with buyer expectations early tend to perform the best.”

Summary

• There are more homes for sale right now

• Buyers have more choice and are taking their time

• Sellers are facing more competition

• Homes that are priced right are still selling

If you are thinking about buying or selling, now is a good time to look at your options and make a plan.

The market is active, but you need to be positioned properly.

Reach out if you want to talk about what is happening right now and what your next step should be.

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